House Bill 1651
118th Congress(2023-2024)
Small Business 7(a) Loan Agent Transparency Act
Introduced
Introduced in House on Mar 17, 2023
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
1651
Congress
118
Policy Area
Commerce
Commerce
Primary focus of measure is business investment, development, regulation; small business; consumer affairs; competition and restrictive trade practices; manufacturing, distribution, retail; marketing; intellectual property. Measures concerning international competitiveness and restrictions on imports and exports may fall under Foreign Trade and International Finance policy area.
No House votes have been held for this bill.
Summary
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.
06/05/2023
Placed on the Union Calendar, Calendar No. 77.
06/05/2023
Reported by the Committee on Small Business. H. Rept. 118-100.
05/23/2023
Ordered to be Reported Without Recommendation by the Yeas and Nays: 21 - 0.
05/23/2023
Committee Consideration and Mark-up Session Held
03/17/2023
Referred to the House Committee on Small Business.
03/17/2023
Introduced in House
Public Record
Record Updated
Mar 18, 2024 8:56:33 PM