This bill creates a new federal website called Lending.gov that will serve as a one-stop shop for all federal loan programs. Right now, different government agencies run their own separate loan systems using outdated technology, which makes it confusing and slow for people trying to get federal loans and wastes taxpayer money. The bill directs the General Services Administration to build a modern, centralized platform using commercial software that can handle loan applications, approvals, servicing, and fraud detection for programs across all agencies—whether it's student loans, small business loans, agricultural loans, or any other federal lending.

The platform will be managed by a lead agency (to be designated) that will handle day-to-day operations, provide technical support to other agencies, and maintain the system. Within 6 months, the GSA must submit a detailed plan for how to build and operate this platform. Within 2 years of that plan, agencies must start moving their loan systems over to Lending.gov, and all agencies must complete the migration within 3 years—unless the Director of the Office of Management and Budget grants an exception. The bill includes protections to make sure agencies keep control of their own loan data and can export it if needed. The platform will be funded through fees charged on loans processed through it (up to 0.25% of the loan amount), though direct loans to individual borrowers need special approval before fees can be charged.