The record

LegislationLegislation· Jun 2025
HR 1804 Passed House — in Senate

Sponsored by Daniel Meuser (R)

7(a) Loan Agent Oversight Act

Requires the SBA to publish annual reports on 7(a) loan agents and their role in small-business lending.

Tradeoff

Mandates SBA data collection and public reporting on 7(a) agents' activities, fraud involvement, and fees. No direct spending or revenue impact specified.

What's in it

See official bill text

Costs $5 million over the 2025-2030 period (roughly $1 million per year).

The $5 million is the federal cost to the SBA to produce and submit annual reports to Congress about loan agents in the 7(a) program — the policy itself is a transparency requirement with minimal direct economic impact on regulated parties.

H.R. 1804, 7(a) Loan Agent Oversight Act · Apr 2025

Passed the House 405-3 on June 3, 2025 — sitting in the Senate.

  1. House

    Introduced

    (Mar 3, 2025)

  2. House

    Committee on Small Business(Mar 3, 2025)

  3. House

    The Committee on Small Business voted to send it to the floor

    Reported 25 - 0(Mar 5, 2025)

    Committee report H. Rept. 119-33.

  4. House

    On Motion to and Pass

    Passed(Roll #147 · Jun 3, 2025)

    405 yeanay 3

  5. Senate

    Received from the House

    on Small Business and Entrepreneurship(Jun 4, 2025)

Passage votes so far· Jun 3, 2025· 119th Congress · 2025–2027