504 Program Risk Oversight Act

This bill requires the Small Business Administration (SBA) to annually analyze risks across all loans guaranteed under its 504 program, which provides long-term financing for small business real estate and equipment purchases. The SBA must submit detailed reports to Congress by December 1 each year, including risk analyses by industry, loan size, borrower type (e.g., new businesses), loan age, and default management. Reports must also include public data on development companies handling loans, loan defaults, and enforcement actions. The bill directly affects the SBA’s oversight of the 504 program and the development companies administering these loans.