Bills · 119th Congress · Commerce

7(a) Loan Agent Oversight Act

Where it stands

  1. Introduced3/3/25
  2. Passed HousePassed 6/3/25
  3. Senate
  4. President
  5. Law

Passed the House 405–3 on June 3, 2025 (Roll Call 147 →). Received in the Senate on June 4, 2025. No Senate action since.

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Roll calls on this bill

Votes on passage
HouseOn Motion to Suspend the Rules and Pass · 6/3/25Suspension of the rulesA fast-track House procedure, usually for measures expected to have broad support. Debate is limited to 40 minutes, no amendments can be offered, and it needs a two-thirds vote of members voting — not a simple majority. A yes vote passes the bill.Rules of the House, Rule XV, clause 1 ↗
Passed
  • Democratic197 Yea · 1 Nay · 14 Not voting
  • Republican208 Yea · 2 Nay · 10 Not voting
  • Independent / Other0 Yea · 0 Nay · 0 Not voting
Official summary (CRS)

7(a) Loan Agent Oversight Act

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.

Full text on congress.gov ↗
Sponsor
Rep. Daniel Meuser ( Republican · PA-9)
Cosponsors
1
Introduced
3/3/25
Policy area
Commerce

What happens next

The Senate must pass the same text, then it goes to the President.

If it isn't enacted by Jan 3, 2027, it expires when the 119th Congress ends.

All actions (15)
  1. 3/3/25Introduced in House
  2. 3/3/25Referred to the House Committee on Small Business.
  3. 3/5/25Committee Consideration and Mark-up Session Held
  4. 3/5/25Ordered to be Reported by the Yeas and Nays: 25 - 0.
  5. 3/24/25Reported by the Committee on Small Business. H. Rept. 119-33.
  6. 3/24/25Placed on the Union Calendar, Calendar No. 22.
  7. 6/3/25Mr. Williams (TX) moved to suspend the rules and pass the bill.
  8. 6/3/25Considered under suspension of the rules. (consideration: CR H2398-2399)
  9. 6/3/25DEBATE - The House proceeded with forty minutes of debate on H.R. 1804.
  10. 6/3/25At 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.
  11. 6/3/25Considered as unfinished business. (consideration: CR H2403-2404)
  12. 6/3/25Passed/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)
  13. 6/3/25On 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)
  14. 6/3/25Motion to reconsider laid on the table Agreed to without objection.
  15. 6/4/25Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.