Bills · HR 1804
PASSED HOUSE· 119TH CONGRESS
House BillHR 1804Fraud offenses and financial crimesGovernment studies and investigations
7(a) Loan Agent Oversight Act
INTRO MAR 3· LAST ACTION JUN 4
READING
2MIN
COSPONSORS
1
READER REACTIONS0 TOTAL
NO VOTES YET · BE THE FIRST
- One chamber only
LEGISLATIVE PROGRESS
STEP 4 / 8Introduced
In Committee
Reported
Passed House
Passed Senate
Conference
To President
Became Law
WHAT THE BILL DOES
AI-writtenVoters should care about this bill because the 7(a) loan program is a critical tool for supporting small businesses, which are major drivers of job creation and economic growth. This bill aims to bring more transparency to the role of third-party agents who often act as intermediaries in these important transactions. By collecting detailed data on agent involvement, including their connection to fraudulent loans and referral fees, the bill could help identify and address potential abuses or inefficiencies within the system.
If this bill becomes law, it could lead to better safeguards for small businesses, more responsible use of taxpayer-backed loan guarantees, and potentially reforms in how 7(a) agents operate. Without it, much of this detailed information about agent activity would remain unknown, making it harder for the government to spot and resolve issues that could impact small businesses and the financial health of the 7(a) loan program.
KEY PROVISIONS
4AI-extractedPROVISION 01
Requires the Director of the Small Business Administration to submit an annual report to Congress on 7(a) agents.
This establishes a new, ongoing mechanism for transparency and oversight of intermediaries involved in the crucial 7(a) loan program.
PROVISION 02
The report must detail the number and types of 7(a) agents, and the number and dollar value of referral fees paid to them.
This provides specific data on the scale and financial incentives of agents, helping to understand their role in the loan process.
PROVISION 03
The report must include the number of fraudulent loans made with agent assistance and the government's loan purchase rate for loans involving agents.
This directly addresses potential risks and financial costs to taxpayers associated with agent involvement in problematic loans.
PROVISION 04
Mandates a consolidated analysis of the risk created by agents responsible for not less than 1% of the total dollar value or number of loans, without identifying individual agents by name.
This allows for the identification of systemic risks from high-volume agents, balancing oversight with agent privacy.
SPONSORSHIP
1 + 1
R· Pennsylvania
YRS IN OFFICE
7
BILLS LED
20
COSPONSOR BREAKDOWNBIPARTISAN · 0%
DEM 1 REP 0 IND 0
ACTION TIMELINE
15 EVENTSJUN 4
Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
JUN 3
Mr. Williams (TX) moved to suspend the rules and pass the bill.
JUN 3
Considered under suspension of the rules. (consideration: CR H2398-2399)
JUN 3
DEBATE - The House proceeded with forty minutes of debate on H.R. 1804.
BILL INFO
TypeHouse Bill
NumberHR 1804
Congress119th
StatusPassed House
IntroducedMar 3, 2025
Last actionJun 4, 2025
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PASSED HOUSE· 119TH CONGRESS · SMALL BUSINESS COMMITTEE · INTRODUCED MAR 3, 2025
House BillHR 1804Fraud offenses and financial crimesGovernment studies and investigations
7(a) Loan Agent Oversight Act
INTRODUCED MAR 3, 2025· LAST ACTION JUN 4, 2025
PASSAGE CHANCES
—%
READING
2 min
COSPONSORS
1
COMPLEXITY
Moderate
