Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
The bill amends the Small Business Act to require the SBA Director to produce an annual report on parties who provide services related to 7(a) loans ("7(a) agents").
The report must include counts of agents, fraudulent loans involving agents, SBA purchase rates, referral fee totals and payors, an aggregated risk analysis of high-impact agents, interest-rate analysis, and a description of SBA communications with agents.
The bill defines "7(a) agent" and "covered services" (application assistance, business planning, consulting, broker, or referral services).
Narrow oversight change with low fiscal impact and few ideological flashpoints raises likelihood, though Senate scheduling and administrative capacity are practical hurdles.
How solid the drafting looks.
Liberals stress transparency and follow-up enforcement; conservatives stress regulatory burden.
Liberals stress transparency and follow-up enforcement; conservatives stress regulatory burden.
Likely supportive as a transparency and consumer-protection measure that can reveal agent-driven fraud and fee practices.
Would view the data as a foundation for stronger oversight and borrower protections, while noting reporting alone may be insufficient.
Generally favorable as a targeted, informational reform that improves oversight without imposing new licensing or bans.
Will seek clarity on implementation costs, data definitions, and protections against unintended burdens on small service providers.
Skeptical of added federal reporting mandates and potential regulatory creep; may tolerate minimal reporting aimed strictly at fraud reduction.
Concerned about imposing new compliance costs and exposing private business information.
Reached or meaningfully advanced
Reached or meaningfully advanced
Still ahead
Still ahead
Still ahead
Narrow oversight change with low fiscal impact and few ideological flashpoints raises likelihood, though Senate scheduling and administrative capacity are practical hurdles.
On Motion to Suspend the Rules and Pass
Liberals stress transparency and follow-up enforcement; conservatives stress regulatory burden.
Narrow oversight change with low fiscal impact and few ideological flashpoints raises likelihood, though Senate scheduling and administrati…
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