7(a) Loan Agent Oversight Act (H.R. 1804)
March 3, 2025
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Where This Stands
Currently in_committee. The next step in the legislative lifecycle is Floor Vote.
Version history
Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.
View official text →The Frame
This bill mandates new federal reporting on third-party agents who assist small businesses with SBA s, which could lead to future regulatory changes regarding how these agents operate and charge fees.
Potentially affected actors named in the source documents. Mention is not a position.
Small Business Administration
The agency is required to compile and submit new annual data regarding 7(a) agents.
7(a) Loan Agents
Their activities, fees, and loan outcomes will be subject to new federal reporting and risk analysis.
Small Business Loan Applicants
Applicants may see changes in how agents operate or how fees are disclosed as a result of increased federal oversight.
Current stage: in_committee.
Floor Vote.
Summary
Key Facts
- The bill mandates an annual report to Congress from the SBA regarding 7(a) loan agents.
- The report must include the total number of 7(a) agents, categorized by type.
- The report must track the number of fraudulent loans associated with the use of a 7(a) agent.
- The report must track the 'purchase rate' of loans where an agent was involved.
- The report must disclose the total number and dollar value of referral fees paid to agents, split by whether the applicant or the lender paid the fee.
- The report must provide a consolidated risk analysis of agents responsible for at least 1% of the total dollar value or number of agent-assisted loans, without naming specific agents.
- The report must analyze interest rates on loans involving 7(a) agents.
- The report must describe how the SBA communicates with 7(a) agents.
- A '7(a) agent' is defined as a person providing services on behalf of a lender or applicant.
- 'Covered services' include application assistance (business plans, financial statements) and consulting, brokerage, or referral services.
Frequently Asked Questions
What is a 7(a) agent?
Will this bill identify specific agents who are risky?
Why It Matters
This bill mandates new federal reporting on third-party agents who assist small businesses with SBA s, which could lead to future regulatory changes regarding how these agents operate and charge fees.
News Coverage
Voting Record
Total
408
Yes
405
No
3
Present
0
Not Voting
0
Abstain
0
How they voted (408)
Adam Gray
D · yes
Jared Moskowitz
D · yes
Brad Sherman
D · yes
Austin Scott
R · yes
Alexandria Ocasio-Cortez
D · yes
Emanuel Cleaver
D · yes
Michael Turner
R · yes
Celeste Maloy
R · yes
Eric Burlison
R · no
Lucy McBath
D · yes
Marc Veasey
D · yes
Suzan DelBene
D · yes
Joyce Beatty
D · yes
Morgan Luttrell
R · yes
Brandon Gill
R · yes
Zachary Nunn
R · yes
Summer Lee
D · yes
Brian Babin
R · yes
Mark Amodei
R · yes
Gwen Moore
D · yes
Nick LaLota
R · yes
Juan Vargas
D · yes
Valerie Foushee
D · yes
Craig Goldman
R · yes
+ 384 more
Sponsors
Discoveries
Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.
Increased Focus on Third-Party Risk
The bill signals a shift toward greater federal scrutiny of third-party intermediaries in the SBA loan process, specifically targeting fraud and fee transparency.
Connected Entities
Sources
www.congress.gov
Analysis Score
0–100- Significance45How much this matters to a regular citizen
- Controversy10Intensity of disagreement among stakeholders
- Entertainment5Compellingness for a non-policy-wonk reader
- Buzz15Current news / social attention level
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