7(a) Loan Agent Oversight Act
Latest action · Jun 4, 2025 Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedMar 3, 2025
- Passed HouseJun 3, 2025
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
7(a) Loan Agent Oversight Act
This bill requires the Small Business Administration (SBA) to submit an annual report containing specified information related to 7(a) loan agents. These agents provide fee-based referral and loan application services related to the SBA's 7(a) Program. Under the 7(a) Program, the SBA provides loans and loan guarantees to small business borrowers who cannot obtain credit elsewhere on reasonable terms and conditions.
The required report must include (1) the number and type of agents assisting applicants for 7(a) loans, (2) the number of fraudulent loans made for which an applicant used the services of a 7(a) agent, (3) the purchase rate of loans for which an applicant used the services of a 7(a) agent, and (4) the number and aggregate dollar value of referral fees paid to 7(a) agents.
Recorded votes 1
Newest first. Open one to see how every member voted.
| Roll call | Question | Result | Date |
|---|---|---|---|
| House 147 | On Motion to Suspend the Rules and Pass | Passed405–3 | Jun 3, 2025 |
Cosponsors 1
Members who signed on, in the order they did. All signed on Mar 3, 2025.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-NJ | LaMonica McIver | Original | Mar 3, 2025 |
Committees 2
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Small Business Committee | Referred Mar 3, 2025Markup Mar 5, 2025Reported Mar 24, 2025 |
| Senate | Small Business and Entrepreneurship Committee | Referred Jun 4, 2025 |
Actions 14
Everything that happened, newest first.
- Jun 4, 2025Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
- Jun 3, 2025Mr. Williams (TX) moved to suspend the rules and pass the bill.
- Jun 3, 2025Considered under suspension of the rules. (consideration: CR H2398-2399)
- Jun 3, 2025DEBATE - The House proceeded with forty minutes of debate on H.R. 1804.
- Jun 3, 2025At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
- Jun 3, 2025Considered as unfinished business. (consideration: CR H2403-2404)
- Jun 3, 2025Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 405 - 3 (Roll no. 147). (text: CR H2398)
- Jun 3, 2025Motion to reconsider laid on the table Agreed to without objection.
- Mar 24, 2025Reported by the Committee on Small Business. H. Rept. 119-33.
- Mar 24, 2025Placed on the Union Calendar, Calendar No. 22.
- Mar 5, 2025Committee Consideration and Mark-up Session Held
- Mar 5, 2025Ordered to be Reported by the Yeas and Nays: 25 - 0.
- Mar 3, 2025Introduced in House
- Mar 3, 2025Referred to the House Committee on Small Business.
In the Congressional Record 2
Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.
| Where | In the Record | Members | Date |
|---|---|---|---|
| House | Debate and remarks H2398, H2399Text printed H2398Recorded votes H2403enact | Daniel Meuser R-PA, LaMonica McIver D-NJ, Morgan McGarvey D-KY, Roger Williams R-TX | Jun 3, 2025 |
| House | Debate and remarks H1862 | Daniel Meuser R-PA | May 6, 2025 |
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Committee report
Congressional Budget Office cost estimate
- Apr 7, 2025H.R. 1804, 7(a) Loan Agent Oversight ActAs reported by the House Committee on Small Business on March 24, 2025
Constitutional authority
The sponsor’s statement, as printed in the Congressional Record, vol. 171, no. 40, March 3, 2025, page H946.
Printed hearings 1
Hearings whose printed record names this bill, newest first: hearings on it, and wider hearings where it came up.
Titles 6
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To amend the Small Business Act to require a report on 7(a) agents, and for other purposes.
- Short Title(s) as Introduced
- 7(a) Loan Agent Oversight Act
- Short Title(s) as Reported to House
- 7(a) Loan Agent Oversight Act
- Short Title(s) as Passed House
- 7(a) Loan Agent Oversight Act
- Short Titles from RFS (Referred to Senate) bill text
- 7(a) Loan Agent Oversight Act
- Official Title from EH (Engrossed in House) bill text
- To amend the Small Business Act to require a report on 7(a) agents, and for other purposes.
Subjects
Assigned by the Library of Congress. Policy area: Commerce.
Text 4
Each version as it was printed, newest first.
- Jun 4, 2025Referred in Senate
- Jun 3, 2025Engrossed in House
- Mar 24, 2025Reported in House
- Mar 3, 2025Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
