HR 4481 United States House · 117th Congress

Small Business 7(a) Loan Agent Transparency Act

Summary

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.

Bill status passed 3 of 5 stages cleared

Introduction

Jul 2021

Committee Review

Nov 2021

House Passage

Nov 2021

Senate Passage

President

Introduced Jul 16, 2021 Last action Nov 3, 2021

Floor votes · House Nov 2, 2021

How they voted

407–9

Passed · 15 other

Total votes 431

Nov 2, 2021

D Democratic219

213 Yea 6

97% Yea

R Republican212

194 Yea 9 Nay 9

91% Yea

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Nov 3, 2021

Committee

Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.

upper

Nov 2, 2021

Lower · Passed

Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 407 - 9 (Roll no. 351).(text: CR H6090)

lower

Oct 12, 2021

Lower · Passed

Reported by the Committee on Small Business. H. Rept. 117-141.

lower

Jul 29, 2021

Lower · Passed

Committee Consideration and Mark-up Session Held.

lower

Jul 16, 2021

Committee

Referred to the House Committee on Small Business.

lower

Jul 16, 2021

Introduced

Introduced in House

lower

1 primary · 6 co-sponsors