HR 4481 · 117th Congress · Commerce
Small Business 7(a) Loan Agent Transparency Act
Bill Progress
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Introduced✓
Committee✓
House Vote4
Senate5
EnactedLatest: Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.(2021-11-03)
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Plain Language Summary
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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 provides loans and loan guarantees to small business borrowers who cannot obtain credit elsewhere on reasonable terms and conditions.…
Summarized by Claude AI · Non-partisan · For informational purposes only
CBO Cost Estimate
Congressional Budget OfficeH.R. 4481, Small Business 7(a) Loan Agent Transparency Act
Aug 30, 2022As passed by the House of Representatives on November 2, 2021
Full CBO report ↗Official non-partisan budget analysis by the Congressional Budget Office