H.R. 4481 · 117th Congress
Small Business 7(a) Loan Agent Transparency Act
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6 cosponsors · 6 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
- House Introduced Jul 16, 2021
- House Passed Nov 2, 2021 407–9
This bill provides oversight of 7(a) loan agents, including by requiring the Small Business Administration (SBA) to establish a registration system for such agents whereby certain data may be collected and by mandating that such agents register with the system and pay an annual registration fee.
What it does: CRS summary · Passed House · Nov 2, 2021
Small Business 7(a) Loan Agent Transparency Act
This bill provides oversight of 7(a) loan agents, including by requiring the Small Business Administration (SBA) to establish a registration system for such agents whereby certain data may be collected and by mandating that such agents register with the system and pay an annual registration fee.
These agents provide referral and loan application services related to the SBA's 7(a) Program. Under the 7(a) Program, the SBA guarantees up to 80% of a private lender's loan to a small business borrower who cannot obtain credit elsewhere on reasonable terms and conditions.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
Votes to become law
About this bill and sources
Official title: Small Business 7(a) Loan Agent Transparency Act
Latest action (Nov 3, 2021): Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
Policy area: Commerce · Origin: House · Introduced: Jul 16, 2021
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML) · Embed in your story
- House Introduced Jul 16, 2021
- House Passed Nov 2, 2021 407–9
Final vote · House · Nov 2, 2021
Passage (two-thirds required) — Passed. Vote details
Speaker of the House: Nancy Pelosi