What types of loans does the loan source offer?
As one of the 14 SBLC’s, The Loan Source is eligible to make loans as a part of the SBA’s loan guarantee programs. This includes the 7 (a), 504, Express, Micro, Export, and other loan programs.
Does the loan source have an SBLC license?
The Money Store, GE, CIT, Citibank) have owned and operated an SLBC license, The Loan Source has been under the same control and management since 1994, making The Loan Source the oldest current holder of an SBLC license. As one of the 14 SBLC’s, The Loan Source is eligible to make loans as a part of the SBA’s loan guarantee programs.
How do I contact the loans Solution Center?
1-888-221-6580 Email Address: firstname.lastname@example.org Hours of Operation: Mon-Fri, 8am-8pm ET
What is ACAP and loan source?
We offer business owners access to trusted service providers, PPP forgiveness servicing, and SBA loan options. In partnership with ACAP SME, LLC, our goal is to empower American business owners within our Business Services Marketplace, providing solutions to common business problems.
How do I check the status of my PPP loan forgiveness application?
Continue to monitor your application for forgiveness: Borrowers who need assistance with direct forgiveness can contact SBA at our dedicated forgiveness call center: 877-552-2692. The call center is open Monday – Friday, 8 a.m. - 8 p.m. ET. The call center can only assist direct forgiveness applicants.
Who owns the loan source?
Mike Druhan - OwnerMike Druhan - Owner - The Loan Source, Inc. LinkedIn.
What is ACAP loan?
Created exclusively to service PPP loans, ACAP is an SBA-approved non-bank partner that provides complete PPP loan servicing solutions. ACAP originates SBA and PPP loans and also purchases loan portfolios outside of PPP. Its team is committed to helping banks reduce future risks and accelerate loan income.
How do I check my SBA PPP loan status?
Call 1-800-659-2955 (the SBA Disaster Assistance customer service center) about the application process, the status of your loan, or with any other questions you may have. If you applied through the COVID-19 portal, the SBA will contact you, but you may be able to get answers by calling the toll-free number.
How long does it take to get PPP loan approved?
From start to finish, the process typically takes about two weeks, although some borrowers are receiving funds quicker than that. As long as you stay involved in the process, keep in touch with your lender, and understand how the PPP loan process works, you should be seeing your money in no time at all.
What is a source loan?
A Source Loan provides the gap funding needed to close the NMTC financing. Without a Source Loan in this scenario, the project would not be able to get started.
What is the loan application process?
The three stages of every loan are the application, underwriting and closing. Application. In the application phase, a loan officer will work with you directly to gather all information needed to prequalify your loan request.
What is loan origination in US mortgage?
Mortgage origination is the process by which a borrower applies for a home loan, along with all of the stages leading up to the borrower getting the keys to the home.