7(a) Loan Agent Oversight Act

HR 1804, the 7(a) Loan Agent Oversight Act, requires the Small Business Administration (SBA) Director to submit an annual report to Congress detailing activities of 7(a) loan agents. The report must include data on the number of agents by type, fraudulent loans involving agents, loan purchase rates, referral fees paid (and by whom), risk analysis for top agents, interest rate comparisons, and SBA communication methods with agents. This bill directly affects SBA administrators (who must produce the report) and 7(a) loan agents (whose activities are monitored through the report). It does not change loan terms or create new programs, but instead mandates transparency around agent services and potential risks in the SBA's 7(a) loan program. The bill focuses on improving oversight through detailed reporting, not on altering the loan process itself.