7(a) Loan Agent Oversight Act

Summary

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, and (3) the number and aggregate dollar value of referral fees paid to 7(a) agents.

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6 official files

• Reported in House (text)

  Reported in House · EN · 5 June 2023

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• Reported in House (PDF)

  Reported in House · EN · 5 June 2023

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• Reported to House

  summary · EN · 5 June 2023

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• Introduced in House (text)

  Introduced in House · EN · 17 March 2023

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• Introduced in House (PDF)

  Introduced in House · EN · 17 March 2023

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• Introduced in House

  summary · EN · 17 March 2023

  Open at official source

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