7(a) Loan Agent Oversight Act

Hozzl · 2025-04-07T12:51:49Z

Explore the details of House Bill 1804 7(a) Loan Agent Oversight Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Commerce. Stay informed on legislative developments.

4/7/2025, 12:51 PM

Summary of Bill HR 1804

Bill 119 HR 1804, also known as the Small Business 7(a) Agent Report Act, aims to amend the Small Business Act to mandate a report on 7(a) agents. The Small Business Administration's 7(a) loan program provides small businesses with access to financing through participating lenders, known as 7(a) agents.

The bill requires the Small Business Administration to submit a report to Congress detailing information on 7(a) agents, including the number of agents, the amount of loans originated by each agent, and any fees or compensation received by agents. This report will provide transparency and accountability in the 7(a) loan program, ensuring that small businesses are receiving fair and equitable access to financing.

In addition to the report on 7(a) agents, the bill also includes provisions for other purposes related to small business lending. Overall, Bill 119 HR 1804 aims to improve oversight and transparency in the Small Business Administration's 7(a) loan program, ultimately benefiting small businesses seeking access to capital.

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Current Status of Bill HR 1804

Bill HR 1804 is currently in the status of Bill Introduced since March 3, 2025. Bill HR 1804 was introduced during Congress 119 and was introduced to the House on March 3, 2025. Bill HR 1804's most recent activity was Placed on the Union Calendar, Calendar No. 22. as of March 24, 2025

Bipartisan Support of Bill HR 1804

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 1804

Primary Policy Focus

Commerce

Potential Impact Areas

Congressional oversightFraud offenses and financial crimesGovernment information and archivesGovernment lending and loan guaranteesGovernment studies and investigations

Alternate Title(s) of Bill HR 1804

To amend the Small Business Act to require a report on 7(a) agents, and for other purposes.To amend the Small Business Act to require a report on 7(a) agents, and for other purposes.

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Sponsors and Cosponsors of HR 1804

Daniel Meuser

Pennsylvania(Republican)

LaMonica McIver

New Jersey(Independent)

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