H.R. 1804
Requires yearly reports on small business loan agents
Makes the Small Business Administration report each year on the agents who refer and help prepare applications for its main small business loan program.
- The Small Business Administration must report on 7(a) loan agents every year
- Report must say how many agents helped applicants and what types they are
- Must include the number of fraudulent loans where an applicant used an agent
- Must include referral fees paid to agents and their total dollar value
Passed the House · Senate's turn