IB 
Union Calendar No. 22 
119TH CONGRESS 
1ST SESSION H. R. 1804 
[Report No. 119–33] 
To amend the Small Business Act to require a report on 7(a) agents, and 
for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
MARCH 3, 2025 
Mr. MEUSER (for himself and Mrs. MCIVER) introduced the following bill; 
which was referred to the Committee on Small Business 
MARCH 24, 2025 
Committed to the Committee of the Whole House on the State of the Union 
and ordered to be printed 
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A BILL 
To amend the Small Business Act to require a report on 
7(a) agents, and for other purposes. 
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Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘7(a) Loan Agent Over-
sight Act’’. 
SEC. 2. REPORT ON 7(a) AGENTS. 
Section 47 of the Small Business Act (15 U.S.C. 
657t) is amended by adding at the end the following new 
subsection: 
‘‘(j) ANNUAL REPORT.— 
‘‘(1) IN GENERAL.—The Director shall submit 
to Congress, in addition to the report required under 
subsection (h)(2), an annual report including, for 
the calendar year covered by the report— 
‘‘(A) the number of 7(a) agents assisting 
applicants 
for 
loans 
under 
section 
7(a), 
disaggregated by the type of 7(a) agents con-
sistent with information reported on the Fee 
Disclosure and Compensation Agreement, or 
any subsequent agreement forms that collect 
such information; 
‘‘(B) the number of fraudulent loans made 
for which an applicant used services of a 7(a) 
agent; 
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‘‘(C) the purchase rate by the Adminis-
trator of loans for which an applicant used 
services of a 7(a) agent; 
‘‘(D) the number and aggregate dollar 
value of referral fees paid to 7(a) agents, 
disaggregated by whether the applicant or 7(a) 
lender paid such fees; 
‘‘(E) without identifying individual 7(a) 
agents by name, a consolidated analysis of the 
risk created by the individual 7(a) agents re-
sponsible for not less than 1 percent of— 
‘‘(i) the dollar value of loans made 
with the assistance of 7(a) agents; and 
‘‘(ii) the number of loans made with 
the assistance of 7(a) agents; 
‘‘(F) an analysis of interest rates on loans 
for which an applicant or 7(a) lender used serv-
ices of an agent; and 
‘‘(G) a description of how the Adminis-
trator communicates with 7(a) agents. 
‘‘(2) DEFINITIONS.—In this subsection: 
‘‘(A) 7(A) AGENT.—The term ‘7(a) agent’ 
means a person who provides covered services 
on behalf of a lender or applicant. 
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‘‘(B) COVERED SERVICES.—The term ‘cov-
ered services’ means— 
‘‘(i) assistance with completing an ap-
plication for a loan under section 7(a) (in-
cluding preparing a business plan, cash 
flow projections, financial statements, and 
related documents); or 
‘‘(ii) consulting, broker, or referral 
services with respect to a loan under sec-
tion 7(a).’’. 
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Union Calendar No. 22 
119TH CONGRESS 
1ST SESSION 
H. R. 1804 
[Report No. 119–33] 
A BILL 
To amend the Small Business Act to require a 
report on 7(a) agents, and for other purposes. 
MARCH 24, 2025 
Committed to the Committee of the Whole House on the 
State of the Union and ordered to be printed 
VerDate Sep 11 2014 
00:32 Mar 25, 2025
Jkt 059200
PO 00000
Frm 00006
Fmt 6651
Sfmt 6651
E:\BILLS\H1804.RH
H1804
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