7(a) Loan Agent Oversight Act
Official title: To amend the Small Business Act to require a report on 7(a) agents, and for other purposes.
What Do You Think?
How would you vote?
Vote to see the result.
What Happened in Congress?
June 3, 2025
- HousePassed 405 to 3
Where the Bill Stands
- Introduced, done
- Committee, done
- Floor Vote, done
- Outcome, current stage
How Congress Voted
How Congress Voted
How Congress VotedOfficial Record408members of the House voted
405 Yea, 3 Nay, 0 Present
24 Not Voting
- Yea
- Nay
- Present
- Not Voting
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Republican | 208 | 2 | 0 | 10 |
| Democrat | 197 | 1 | 0 | 14 |
| Total | 405 | 3 | 0 | 24 |
Republican
- Yea
- 208
- Nay
- 2
- Present
- 0
- Not Voting
- 10
Democrat
- Yea
- 197
- Nay
- 1
- Present
- 0
- Not Voting
- 14
House roll call vote, June 3, 2025
How Each Member Voted
House: On Motion to Suspend the Rules and Pass
Yea 405
What This Bill Does
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.
Sponsors
Related Documents
Timeline
- SenateReceived in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
- House floor actionsMr. Williams (TX) moved to suspend the rules and pass the bill.
- Floor Vote
- Passed the House
- House floor actionsReported by the Committee on Small Business. H. Rept. 119-33.
- House committee actionsCommittee Consideration and Mark-up Session Held
- Library of CongressIntroduced in House
- House floor actionsReferred to the House Committee on Small Business.
- Introduced
- Committee
Comments
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