To amend the Small Business Act to require a report on 7(a) agents, and for other purposes.
Sponsors
Legislative Progress
Passed HouseCommitted to the Committee of the Whole House on the …
Passed House (inferred from eh version)
Mr. Meuser (for himself and Mrs. McIver) introduced the following …
On Motion to Suspend the Rules and Pass
7(a) Loan Agent Oversight Act
Summary
What This Bill Does
Amends the Small Business Act to require the SBA Director to submit annual reports to Congress on 7(a) loan agents, including fraud rates, loan purchases, referral fees, and risk analysis of high-volume agents.
Who Benefits and How
Congress gains oversight data on loan agent practices. Small businesses benefit from improved program integrity. SBA gains framework for monitoring agent activities.
Who Bears the Burden and How
SBA must compile and report data annually. Loan agents face increased scrutiny.
Key Provisions
- Annual report on number of 7(a) agents by type
- Fraudulent loan data where agents were involved
- Purchase rate for agent-assisted loans
- Referral fee data disaggregated by payer
- Risk analysis of agents with 1%+ of loan volume
Evidence Chain:
This summary is derived from the structured analysis below. See "Detailed Analysis" for per-title beneficiaries/burden bearers with clause-level evidence links.
Primary Purpose
Requires SBA annual report on 7(a) loan agents including fraud and referral fees
Policy Domains
Legislative Strategy
"Enhanced oversight of SBA loan intermediaries"
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "the_director"
- → Director of SBA Office of Credit Risk Management
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology