October 21, 2020 | By: LendVer Staff – The Senate voted on, and failed to pass a standalone relief package yesterday that included the extension and refunding of the Paycheck Protection Program. A procedural measure, with a vote of 40 to 57, tabled the bill for a future date. The proposal would have reactivated the [...]

October 15, 2020 | By: LendVer Staff – Senate Majority Leader Mitch McConnell (R-Kentucky) has announced that Senate Republicans will vote on a slimmed-down coronavirus relief bill when the Senate returns from recess next week. The bill which could be as much as $500 billion, would include the extension of the Paycheck Protection Program (which [...]

October 13, 2020 | By: LendVer Staff – The Small Business Administration in conjunction with the U.S. Treasury has issued new guidance stating that any small business that obtained a Paycheck Protection Program “PPP” loan of $50,000 or less, now has the potential to have that loan fully forgiven. The new PPP Loan Forgiveness Application [...]

September, 29 2020 | By: LendVer Staff – The Paycheck Protection Program “PPP” expired on August 8, 2020 with approximately $138 billion in funding remaining, and millions of small businesses still in need. For almost two months Congress has remained gridlocked on passing new legislation that would extend the PPP, potentially add $160 billion of [...]

The Loan Source is one of only 14 non-bank lenders approved by the Small Business Administration (SBA) to provide SBA loans. The Loan Source is part of the selective SBA Preferred Lender Program, which is the highest level of approval status that a lender can receive from the SBA. This status enables a lender to [...]