H.R. 4481: Small Business 7(a) Loan Agent Transparency Act
CBO Score
$41 million
Documentation
Date of Report
Tue August 30th, 2022
CBO Report Details
Legislation Details
117th Congress
To amend the Small Business Act to establish requirements for 7(a) agents, and for other purposes.
Sponsor: Rep. Dean Phillips — D — MN
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...
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