Us Congress 2025-2026 Regular Session

Us Congress House Bill HB1804 Compare Versions

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Version 2 (New)

Old	New		Differences
1		-	IB
2		-	Union Calendar No. 22
	1	+	I
3	2		119THCONGRESS
4	3		1
5	4		STSESSION H. R. 1804
6		-	[Report No. 119–33]
7	5		To amend the Small Business Act to require a report on 7(a) agents, and
8	6		for other purposes.
9	7		IN THE HOUSE OF REPRESENTATIVES
10	8		MARCH3, 2025
11	9		Mr. M
12	10		EUSER(for himself and Mrs. MCIVER) introduced the following bill;
13	11		which was referred to the Committee on Small Business
14		-	M
15		-	ARCH24, 2025
16		-	Committed to the Committee of the Whole House on the State of the Union
17		-	and ordered to be printed
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21	12		A BILL
22	13		To amend the Small Business Act to require a report on
23	14		7(a) agents, and for other purposes.
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27	15		Be it enacted by the Senate and House of Representa-1
28	16		tives of the United States of America in Congress assembled, 2
29	17		SECTION 1. SHORT TITLE. 3
30	18		This Act may be cited as the ‘‘7(a) Loan Agent Over-4
31	19		sight Act’’. 5
32	20		SEC. 2. REPORT ON 7(a) AGENTS. 6
33	21		Section 47 of the Small Business Act (15 U.S.C. 7
34	22		657t) is amended by adding at the end the following new 8
35	23		subsection: 9
36	24		‘‘(j) A
37	25		NNUALREPORT.— 10
38		-	‘‘(1) I
39		-	N GENERAL.—The Director shall submit 11
40		-	to Congress, in addition to the report required under 12
41		-	subsection (h)(2), an annual report including, for 13
42		-	the calendar year covered by the report— 14
43		-	‘‘(A) the number of 7(a) agents assisting 15
44		-	applicants for loans under section 7(a), 16
45		-	disaggregated by the type of 7(a) agents con-17
46		-	sistent with information reported on the Fee 18
47		-	Disclosure and Compensation Agreement, or 19
48		-	any subsequent agreement forms that collect 20
49		-	such information; 21
50		-	‘‘(B) the number of fraudulent loans made 22
51		-	for which an applicant used services of a 7(a) 23
52		-	agent; 24
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56		-	‘‘(C) the purchase rate by the Adminis-1
57		-	trator of loans for which an applicant used 2
58		-	services of a 7(a) agent; 3
59		-	‘‘(D) the number and aggregate dollar 4
60		-	value of referral fees paid to 7(a) agents, 5
61		-	disaggregated by whether the applicant or 7(a) 6
62		-	lender paid such fees; 7
63		-	‘‘(E) without identifying individual 7(a) 8
64		-	agents by name, a consolidated analysis of the 9
65		-	risk created by the individual 7(a) agents re-10
66		-	sponsible for not less than 1 percent of— 11
67		-	‘‘(i) the dollar value of loans made 12
68		-	with the assistance of 7(a) agents; and 13
69		-	‘‘(ii) the number of loans made with 14
70		-	the assistance of 7(a) agents; 15
71		-	‘‘(F) an analysis of interest rates on loans 16
72		-	for which an applicant or 7(a) lender used serv-17
73		-	ices of an agent; and 18
74		-	‘‘(G) a description of how the Adminis-19
75		-	trator communicates with 7(a) agents. 20
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	28	+	•HR 1804 IH
	29	+	‘‘(1) IN GENERAL.—The Director shall submit 1
	30	+	to Congress, in addition to the report required under 2
	31	+	subsection (h)(2), an annual report including, for 3
	32	+	the calendar year covered by the report— 4
	33	+	‘‘(A) the number of 7(a) agents assisting 5
	34	+	applicants for loans under section 7(a), 6
	35	+	disaggregated by the type of 7(a) agents con-7
	36	+	sistent with information reported on the Fee 8
	37	+	Disclosure and Compensation Agreement, or 9
	38	+	any subsequent agreement forms that collect 10
	39	+	such information; 11
	40	+	‘‘(B) the number of fraudulent loans made 12
	41	+	for which an applicant used services of a 7(a) 13
	42	+	agent; 14
	43	+	‘‘(C) the purchase rate by the Adminis-15
	44	+	trator of loans for which an applicant used 16
	45	+	services of a 7(a) agent; 17
	46	+	‘‘(D) the number and aggregate dollar 18
	47	+	value of referral fees paid to 7(a) agents, 19
	48	+	disaggregated by whether the applicant or 7(a) 20
	49	+	lender paid such fees; 21
	50	+	‘‘(E) without identifying individual 7(a) 22
	51	+	agents by name, a consolidated analysis of the 23
	52	+	risk created by the individual 7(a) agents re-24
	53	+	sponsible for not less than 1 percent of— 25
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	56	+	•HR 1804 IH
	57	+	‘‘(i) the dollar value of loans made 1
	58	+	with the assistance of 7(a) agents; and 2
	59	+	‘‘(ii) the number of loans made with 3
	60	+	the assistance of 7(a) agents; 4
	61	+	‘‘(F) an analysis of interest rates on loans 5
	62	+	for which an applicant or 7(a) lender used serv-6
	63	+	ices of an agent; and 7
	64	+	‘‘(G) a description of how the Adminis-8
	65	+	trator communicates with 7(a) agents. 9
76	66		‘‘(2) D
77		-	EFINITIONS.—In this subsection: 21
	67	+	EFINITIONS.—In this subsection: 10
78	68		‘‘(A) 7(
79		-	A) AGENT.—The term ‘7(a) agent’ 22
80		-	means a person who provides covered services 23
81		-	on behalf of a lender or applicant. 24
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85		-	‘‘(B) COVERED SERVICES.—The term ‘cov-1
86		-	ered services’ means— 2
87		-	‘‘(i) assistance with completing an ap-3
88		-	plication for a loan under section 7(a) (in-4
89		-	cluding preparing a business plan, cash 5
90		-	flow projections, financial statements, and 6
91		-	related documents); or 7
92		-	‘‘(ii) consulting, broker, or referral 8
93		-	services with respect to a loan under sec-9
94		-	tion 7(a).’’. 10
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97		-	22
98		-	119
99		-	TH
100		-	CONGRESS
101		-	1
102		-	ST
103		-	S
104		-	ESSION
105		-
106		-	H. R. 1804
107		-	[Report No. 119–33]
108		-	A BILL
109		-	To amend the Small Business Act to require a
110		-	report on 7(a) agents, and for other purposes.
111		-	M
112		-	ARCH
113		-	24, 2025
114		-	Committed to the Committee of the Whole House on the
115		-	State of the Union and ordered to be printed
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	69	+	A) AGENT.—The term ‘7(a) agent’ 11
	70	+	means a person who provides covered services 12
	71	+	on behalf of a lender or applicant. 13
	72	+	‘‘(B) C
	73	+	OVERED SERVICES.—The term ‘cov-14
	74	+	ered services’ means— 15
	75	+	‘‘(i) assistance with completing an ap-16
	76	+	plication for a loan under section 7(a) (in-17
	77	+	cluding preparing a business plan, cash 18
	78	+	flow projections, financial statements, and 19
	79	+	related documents); or 20
	80	+	‘‘(ii) consulting, broker, or referral 21
	81	+	services with respect to a loan under sec-22
	82	+	tion 7(a).’’. 23
	83	+	Æ
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