US HB1804

Amends the Small Business Act (Section 47, 15 U.S.C. 657t) to require the SBA Director to submit an annual report to Congress on 7(a) loan agents

Annual report must include the number of 7(a) agents by type, number of fraudulent loans involving agents, loan purchase rates, and referral fee data disaggregated by whether applicants or lenders paid the fees

Requires consolidated risk analysis of individual 7(a) agents responsible for at least 1% of either the dollar value or number of agent-assisted loans, without identifying agents by name

Defines "7(a) agent" as any person providing covered services (application assistance, business plan preparation, consulting, broker, or referral services) on behalf of lenders or applicants

Passed the House of Representatives on June 3, 2025