Profiles · Principals
- Type
- Person
- Role
- Executive
- Programs
- PPP, PPPLF
- Updated
The profile
Chief investment officer of ACAP, The Loan Source's loan-acquisition and servicing partner, which bought and serviced PPP loans originated by other lenders; now co-CEO of NEWITY.
Identity and role
Luke LaHaie — Chief Investment Officer of ACAP during the PPP period (American Banker) and now co-CEO of NEWITY, ACAP's successor (NEWITY profile). ACAP was the servicing and acquisition partner of The Loan Source, Inc., the New York nonbank SBA lender that became one of the largest buyers and servicers of PPP loans (see that profile).
Biography / career arc
ACAP was the loan-acquisition-and-servicing arm paired with The Loan Source's SBA lending license (Delaware opinion and American Banker); the two firms bought PPP portfolios from banks that wanted to exit the program.
Pandemic-relief / PPP-EIDL role
LaHaie worked the secondary side of PPP: The Loan Source/ACAP bought PPP loans from originating banks and serviced them through forgiveness (American Banker); his own loan-count and volume figures are cited to Bloomberg Tax; we do not have a copy. The project's tables record The Loan Source as a buy-side aggregator with peak PPPLF borrowings of about $9.16 billion and a serviced book of about $11.2 billion (see The Loan Source profile).
No separate personal or company-side PPP/EIDL loan, SVOG grant, Provider Relief Fund payment, or other own-relief receipt is identified for Luke LaHaie.
Legal status / controversies
No PPP-fraud finding or enforcement action against LaHaie, The Loan Source, or ACAP identified in the public record.
Where they are now (2025–2026)
With NEWITY, the ACAP successor (NEWITY profile); The Loan Source and NEWITY have since litigated in Delaware (we have a copy of the opinion; see The Loan Source profile).
Sources held in this archive
Original source documents and archived captures
- Profile: The Loan Source, Inc.
- NEWITY, Luke LaHaie team profile
- American Banker, "Extension of Fed facility could spur more PPP loan sales" LaHaie/ACAP/The Loan Source and PPPLF eco...
- District of Delaware, The Loan Source Inc. et al. v. ACAP SME LLC et al., No. 22-1255, opinion discussing ACAP/TLS/...
- Federal Reserve Bank of Minneapolis, PPPLF explainer
Sources
- American Banker, "The Loan Source buys two PPP portfolios"; Bloomberg Tax, "As Banks Shed Relief Loans, Pitfalls Arise for Hobbled Borrowers" (LaHaie quotes, ~$7.2B / 60,000 loans)
- American Banker, "Extension of Fed facility could spur more PPP loan sales" (LaHaie/ACAP/The Loan Source and PPPLF economics): American Banker, "Extension of Fed facility could spur more PPP loan sales" LaHaie/ACAP/The Loan Source and PPPLF eco... (original: americanbanker.com · stored capture)
- NEWITY, Luke LaHaie team profile: NEWITY, Luke LaHaie team profile (original: newitymarket.com · stored capture)
- District of Delaware, The Loan Source Inc. et al. v. ACAP SME LLC et al., No. 22-1255, opinion discussing ACAP/TLS/Luke LaHaie transaction: 22 1255 Pdf 9bce0a8f4bfb06fe (original: ded.uscourts.gov · stored capture)
- Federal Reserve Bank of Minneapolis, PPPLF explainer: Federal Reserve Bank of Minneapolis, PPPLF explainer (original: minneapolisfed.org · stored capture)
- Cross-reference: The Loan Source