7(a) Loan Agent Oversight Act
This bill requires the federal government to monitor and publicly report on third-party brokers, consultants, and packagers who help small businesses secure government-backed 7(a) loans. Each year, officials must report to Congress on the fees these agents charge borrowers and lenders, the interest rates on their loans, and how often their deals involve fraud or default. This tracking is intended to reveal whether middlemen are adding excessive costs for small business owners or increasing financial risks for government lending programs.
What this bill touches.
Who it helps · who it burdens.
Who it helps
- CongressReceives an annual oversight report with detailed data on 7(a) loan agent volume, fraud rates, default purchase rates, fees, and portfolio risk.
Who it burdens
- Small Business Administration (Office of Credit Risk Management)Must compile and submit an annual report to Congress containing detailed risk data, fraud figures, fee totals, and interest rates regarding 7(a) loan agents.
The provisions, in plain language.
Requires the Small Business Administration's Office of Credit Risk Management to submit an annual report to Congress on loan agents assisting 7(a) program borrowers, including data on agent types, referral fees paid by borrowers and lenders, interest rates, fraud and default purchase rates on agent-assisted loans, communication policies, and a risk analysis of high-volume agents.
How your members of Congress line up
How members voted on 7(a) Loan Agent Oversight Act.
Recorded roll calls on this bill, most recent first. Open one to see each member's position.
How it moved.
Show all 15 actions
- Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
- Motion to reconsider laid on the table Agreed to without objection.
- 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)
- Passed/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)
- Considered as unfinished business. (consideration: CR H2403-2404)
- At 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.
- DEBATE - The House proceeded with forty minutes of debate on H.R. 1804.
- Considered under suspension of the rules. (consideration: CR H2398-2399)
- Mr. Williams (TX) moved to suspend the rules and pass the bill.
- Placed on the Union Calendar, Calendar No. 22.
- Reported by the Committee on Small Business. H. Rept. 119-33.
- Ordered to be Reported by the Yeas and Nays: 25 - 0.
- Committee Consideration and Mark-up Session Held
- Referred to the House Committee on Small Business.
- Introduced in House
- Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
- Motion to reconsider laid on the table Agreed to without objection.
- 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)
- Passed/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)
- Reported by the Committee on Small Business. H. Rept. 119-33.
- Ordered to be Reported by the Yeas and Nays: 25 - 0.
- Introduced in House
Read it for yourself.
Sources & provenance
Cite this page
Civic Herald. “7(a) Loan Agent Oversight Act (H.R. 1804, 119th Congress).” https://civicherald.app/bills/119-hr-1804. Congress.gov record as of Jul 13, 2026.