The Loan Source from Covid Reserve
We're still accepting and processing PPP Loan Applications
Whether you’re a small business, a 501(3)(c) non-profit, an independent contractor, a minority business, a women owned business or self-employed, we welcome you to The Loan Source
You are eligible for a PPP loan from The Loan Source if you are a small or medium sized business or a nonprofit with less than 500 employees
2.5x
Monthly Payroll Coverage
Get up to 2.5x or 250% your average monthly payroll expenses (or average monthly income for non-employers)
1%
Interest
1% annual percentage rate with maturity of 5 years and first payment deferred for 6 months. No fees.
0
Collateral
No collateral or personal guarantees are required. Loan forgiveness if funds are used to retain existing employees.
<500
Employees
Most business and nonprofits with 500 or fewer employees are qualified to apply
Our History

In 1994, The Loan Source Inc. was approved by the U.S. Small Business Administration (SBA) to acquire one of only fourteen Small Business Lending Company (SBLC) licenses.

SBLCs are non-bank lending institutions authorized to make small business Government Guaranteed Loans (SBA loans), nationwide, under the SBA 7(a) program.

While many large public companies have owned and operated a SBLC license, all have been transferred, sold, or otherwise acquired since the SBLC license program was originally created in the mid 1970s.

The Loan Source has been under the same control and management since its inception, making us the oldest holder of a SBLC license. Today, we continue to proudly help small business with 7(a) loans, PPP loans, and SBA Disaster Loans.

The Loan Source is the oldest holder of 1 of 14 SBLC licenses
Happy to lend in any industry to small and mid size businesses, nonprofits and to independent contractors and sole proprietors.
  • Restaurants
  • Distributors
  • Catering
  • Bars
  • Grocery Stores
  • Convenience Stores
  • Food Growers
  • Construction
  • Electrical
  • Electrical
  • HVAC
  • Auto Repair
  • Manufacturing
  • Medical
  • Entertainment
  • Personal Grooming
  • Hospitality
  • Child Care
What do I need to start?
Use this checklist to prepare the information and documentation you’ll need to apply:
Payroll Records
Full year of payroll processor records and / or payroll tax filings (e.g. Forms 940, 941, 944) covering January 2019 through February 2020. Note: Many payroll processors have created custom PPP reports for their customers in their online portals.
Identifying Business Information
Information to help identify your business such as a voided check, EIN / TIN information, proof of business (e.g. Articles of Incorporation)
Individual Applicant Identification
Identification documents for the individual applying on behalf of the business to validate date of birth and address such as a valid government issued ID and additional proof of address
Company Ownership Structure Documentation
Information on the ownership structure of the company (an individual can fill out the application on behalf of multiple owners) along with date of birth and other information on each of the owners with more than 20% stake in the company