Small Business 7(a) Loan Agent Transparency Act
Sponsor: Dean Phillips (D-MN)
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 guarantees up to 80% of a private lender's loan to a small business borrower who cannot obtain credit elsewhere on reasonable terms and conditions.
Commerce Topic assigned by the Congressional Research Service.
Who won, and how much of the country was behind them
The dotted gap is 4.2% of U.S. adults whose member did not vote, voted “present,” or whose seat was vacant.
| Side | Outcome | Votes | Share of U.S. adults |
|---|---|---|---|
| Yea | Won | 407 | 93.7% |
| Nay | Lost | 9 | 2.1% |
| Not represented on this question | No position taken | 0 | 4.2% |