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Derived table · Paycheck Protection Program

The Loan Source: 192 loans originated, 115,824 serviced

The Loan Source Incorporated originated 192 PPP loans, $22.37 million, and services 115,824, $11.24 billion, in SBA's loan-level file of September 30, 2024. The file names an originating lender and a servicing lender for every loan; where the two differ, the loan changed hands after origination. For 115,823 of the 115,824 loans The Loan Source services, $11,244,638,103 of approval amount, the originating lender is one of 52 other institutions. The one exception is a $12,500 loan it made itself. Northeast Bank of Maine originated 34,673 of the loans, $3.33 billion, 29.6% of the acquired dollars; Pacific Premier Bank, Cadence Bank, Blue Ridge Bank and Dime Community Bank follow, and the five together account for 58.0%. The same company is the largest PPPLF borrower by gross advances, $36.18 billion over 1,063 advances.

Rows53
Columns13
Files1 · 6 KB
FormatCSV
Source vintageSBA PPP loan-level file, release of September 30, 2024 (13 CSV files, 11,468,210 rows); Fed PPPLF transaction-specific disclosures for the two facility figures
Published byPandemic Darlings
Acquired / built2026-10-15
Built fromSBA PPP FOIA loan-level data and PPP lender totals
SHA-256bfd49d62ebed1e1f13cb94dd3c072c84ec56a6e4cbbb81fb1a1a640b044013f7
RightsDerived from U.S. government public data; attribution to Pandemic Darlings requested.
Dictionarydictionary.csv

Download CSV 6 KBData dictionary CSVAt a glancePreviewColumnsHow to useBefore you quote a row

At a glance

Measured on the file on 2026-10-15; the checksum above is the file these numbers describe.

Rows53
Columns13
Keyoriginating_lender · unique
Cells left blank1 of 689 · 0.1%
Loans serviced by The Loan Source115,824 · $11.24 billion
Originated by another lender115,823 · $11.24 billion · 100.0% of dollars
Originating lenders52, in 24 states
LargestNortheast Bank · 34,673 loans · $3.33 billion · 29.6%
Loans dated 202177,816 · 67.2%
Second-draw loans49,217 · 42.5%
Loans with forgiveness106,191 · 91.7% · $10.76 billion

What it is

One row for each lender that originated a PPP loan The Loan Source Incorporated now services, 53 rows in all: 52 other lenders and The Loan Source itself. The relationship column separates the two. The loan count, current and initial approval amounts, year dated, draw and forgiveness figures are sums over that lender's loans in the serviced book. Share of acquired dollars divides a lender's current approval amount by the $11,244,638,103 originated elsewhere.

The book is concentrated. Eighteen lenders account for $100 million or more each; fourteen for under $10 million; the smallest, Allegacy FCU, for one loan of $20,833.35. Northeast Bank's 34,673 loans are 85.3% dated 2021 (29,584), while Pacific Premier Bank's 3,851 and Webster Bank's 3,042 are all dated 2020 and Blue Ridge Bank's 19,475 and Dime Community Bank's 2,742 are all dated 2021. Thirty-five of the 52 lenders appear with 2020 loans only and eight with 2021 loans only.

The company's own originations sit apart from this book. The 192 loans it made, all dated 2020, total $22,374,422 of current approval and $866,573 of modeled SBA processing fees. Of those 192, the file now names BayFirst National Bank as servicer of 191, $22,361,922, and The Loan Source of one. BayFirst in turn originated 3,830 loans, $328.79 million, that The Loan Source services. The serviced book is 503 times the originated book by approval amount.

How it was built

Every row of the 13 files in SBA's September 30, 2024 release was read once, 11,468,210 rows. A loan is in the serviced book if its ServicingLenderName is Loan Source Incorporated, the only spelling the file carries; all 115,824 give New York as the servicer's state. Rows are grouped by OriginatingLender and OriginatingLenderState and sorted by current approval amount, descending.

Amounts are CurrentApprovalAmount and InitialApprovalAmount summed to the cent. Year dated reads the year of DateApproved. First draw is ProcessingMethod PPP and second draw is PPS; every loan in the book is one or the other. Loans with forgiveness counts rows whose ForgivenessAmount is above zero, and forgiveness_usd sums that field. The 192 loans The Loan Source originated were read the same way, grouped by their servicing lender.

Preview

originating_lenderoriginating_lender_staterelationshiploanscurrent_approval_usdinitial_approval_usdshare_of_acquired_usd_pctloans_dated_2020loans_dated_2021first_draw_loanssecond_draw_loansloans_with_forgivenessforgiveness_usd
Northeast BankMEoriginated by another lender346733330451907.583352532581.5029.625089295841225122422327713217169094.53
Pacific Premier BankCAoriginated by another lender38511163354412.691182657331.3610.35385103851037851148071418.97
Cadence BankMSoriginated by another lender12289725451377.50724966286.776.45311491756267602211075694161309.67
Blue Ridge Bank, National AssociationVAoriginated by another lender19475711597113.30710456227.096.3301947514307516815522583887678.41
Dime Community BankNYoriginated by another lender2742594290504.14594077115.145.290274217525672547563996110.61
Webster Bank National AssociationNYoriginated by another lender3042483141000.00483099300.004.3030420304202917472511013.11
Peapack-Gladstone BankNJoriginated by another lender2515413021433.00416241519.003.67227923623861292422398701617.76
Flagstar Bank National AssociationMIoriginated by another lender3147385071448.00383044989.003.4231470314703007374767252.73
Trustmark National BankMSoriginated by another lender5641354144032.23357959795.853.1505641180338385125342550045.95
BayFirst National BankFLoriginated by another lender3830328788518.00338594519.002.920383031235183522302687820.89
Investors Bank, A Division of Citizens Bank National Associ…NJoriginated by another lender2047327919688.35331575061.372.9220470204701988323902347.34
Bryn Mawr Trust. A Division ofPAoriginated by another lender1869308007165.00306415727.002.7418690186901827301998582.90
Stearns Bank National AssociationMNoriginated by another lender2356306443157.34327471603.622.7323560235602316302396423.40
OceanFirst Bank, National AssociationNJoriginated by another lender2099298433590.25297077221.052.6520990209902003288700198.39
b1BANKLAoriginated by another lender2004243682673.95243412219.452.17133187171112931892219248957.85

First 15 of 53 rows · cells longer than 60 characters are cut with an ellipsis · shown as text, unformatted.

Files

FileRowsSizeSHA-256
the-loan-source-acquired-ppp-book.csv
CSV, UTF-8, header row		536,453 Bbfd49d62ebed1e1f13cb94dd3c072c84ec56a6e4cbbb81fb1a1a640b044013f7Download ↓
dictionary.csv
data dictionary, 13 rows		13—built with this pageDownload ↓

Columns

ColumnType, measuredBlankDistinctRange / valuesMeaning
originating_lendertext053Northeast Bank (1), Pacific Premier Bank (1), Cadence Bank (1)OriginatingLender as the SBA file prints it.
originating_lender_statetext024CA (9), NJ (7), MS (4)OriginatingLenderState, two letters.
relationshiptext02originated by another lender (52), originated by The Loan Source (1)originated by another lender (52 rows) or originated by The Loan Source (1 row).
loansinteger0501 – 34.7K · median 435Loans from this originator in the serviced book.
current_approval_usdnumber05312.5K – 3.3B · median 31.4MSum of CurrentApprovalAmount, to the cent.
initial_approval_usdnumber05312.5K – 3.4B · median 33.0MSum of InitialApprovalAmount, to the cent.
share_of_acquired_usd_pctnumber1380.00 – 29.62 · median 0.29current_approval_usd as a percentage of the $11,244,638,103 originated by other lenders; blank on The Loan Source's own row.
loans_dated_2020integer0430 – 5.1K · median 165Loans whose DateApproved falls in 2020.
loans_dated_2021integer0180 – 29.6K · median 0Loans whose DateApproved falls in 2021.
first_draw_loansinteger0491 – 14.3K · median 188ProcessingMethod PPP.
second_draw_loansinteger0180 – 22.4K · median 0ProcessingMethod PPS.
loans_with_forgivenessinteger0510 – 32.8K · median 408Loans whose ForgivenessAmount is above zero.
forgiveness_usdnumber0530.00 – 3.2B · median 26.2MSum of ForgivenessAmount, to the cent.

Type, blanks, distinct count, and range are measured on the file. The same table as CSV: dictionary.csv.

How to use it

Specific to this file, measured on it: keys, joins, encodings, units, and the values that will trip a naive count.

  • One servicer, many originators. The table is the serviced book of one company by who made each loan. The lender's own program totals, as originator, are in PPP lender totals, where Loan Source Incorporated shows 192 loans.
  • Servicing, not ownership. The SBA field names who services the loan on the release date; the file does not record a sale price, a sale date or who held the loan in between.
  • Sorted by current approval amount. Sort on loans for Northeast Bank, Blue Ridge Bank and Cadence Bank at the top by count; filter loans_dated_2020 at zero for the eight lenders whose loans are all dated 2021.
  • LF line endings, UTF-8, 6,453 bytes.

Before you quote a row

  • A snapshot. The servicing-lender field is as of the September 30, 2024 release; later transfers are not in it, and loans The Loan Source serviced earlier and transferred away are not in the book.
  • Approval, not disbursement. Amounts are approval amounts; the file's undisbursed field is not applied here.
  • Two fields, no contract. That a loan's originator and servicer differ is the file's record; the terms of the transfer are not in it.
  • Facility figures are from another table. The 1,063 advances and $36.18 billion gross come from PPPLF advances by lender, which reads the Fed's disclosures; the two tables are not joined at the loan level.
Cite this table. Name the source vintage; the numbers depend on it.The Loan Source's PPP book: 115,824 serviced loans by originating lender, from SBA loan-level data. Pandemic Darlings, https://pandemicdarlings.com/data/the-loan-source-acquired-ppp-book/, SHA-256 bfd49d62ebed1e1f13cb94dd3c072c84ec56a6e4cbbb81fb1a1a640b044013f7

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