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Meuser's Bill Passes the House That Will Improve Sba Oversight

Statement

Date: Nov. 2, 2021
Location: Washington, DC
Issues: Business and Consumers

Today, Congressman Dan Meuser (PA-09) released the following statement after the U.S. House of Representatives passed his Small Business 7(a) Loan Agent Oversight Act.

"The Small Business Administration's (SBA) 7(a) Loan Program is an important tool for helping small businesses gain access to capital. Unfortunately, the SBA's Office of Inspector General has highlighted the need for improved oversight of 7(a) loan agents due to increased risk of fraud associated with these agents," said Congressman Dan Meuser. "My bill will address these issues by requiring the SBA to develop and publish an annual portfolio risk analysis for Congress on loan agents that operate within the program. This analysis will ensure that both Congress and the SBA remain good stewards of taxpayer dollars and ensure that American small businesses can continue to benefit from the SBA's flagship loan program."


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