House · HR 1804 · 119th Congress
7(a) Loan Agent Oversight Act
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Summary
This bill requires the Small Business Administration to send Congress a yearly report on agents who help small businesses apply for SBA loans. The report must include how many agents are working, how much they are paid in fees, and how often fraud happens in loans they handled. Small business owners and taxpayers are affected.
In Favor
Agents who help small businesses get SBA loans have faced little public tracking until now. This bill creates a yearly record of fraud rates and fees tied to these agents, giving Congress real data to spot problems. Better information means lawmakers can act before taxpayer-backed loans are misused.
Against
This bill only requires a report and does not set any new rules or limits on loan agents. Collecting and publishing the data each year costs staff time and government resources. If the report reveals problems, Congress still has to pass separate laws to fix them, so real change could be slow.
Additional Considerations
Purpose & Problem
Is the problem real and worth federal action?
This bill requires the Small Business Administration to submit a yearly report to Congress about agents who help small businesses apply for SBA 7(a) loans. The report targets gaps in tracking agent activity, fees, and loan fraud connected to those agents.
Scope & Related Provisions
Does it stay focused, or carry unrelated add-ons?
The bill's provisions stay focused on its core purpose of reporting on 7(a) loan agents. All required data points, including fraud rates, referral fees, interest rates, and risk analysis, relate directly to agent activity in the 7(a) loan program.
Who Is Affected
Who benefits, and who bears the cost?
Small businesses seeking 7(a) loans and the agents who assist them are the subjects of the new reporting. The SBA's Office of Credit Risk Management bears the new duty of collecting, analyzing, and submitting this data to Congress each year.
Cost & Funding
Is it affordable and responsibly funded?
The bill does not authorize or appropriate a specific dollar amount. It shifts a cost onto the SBA in the form of staff time and resources needed to collect, analyze, and publish the required annual report.
Risks & Implementation
What could go wrong in practice?
The bill requires the SBA to track and break down data that may not currently be collected in a consistent format. Producing accurate figures on fraud, fees, and risk levels depends on lenders and agents reporting complete information through existing agreement forms.
For the actual bill text, see congress.gov.
AI-generated · Published 6/5/2026