In the 1920s, Loomis collaborated with his brother-in-law, Landon K. Thorne, rather than returning to the practice of law.

Loomis also made a significant contribution to the development of ground-controlled approach technology, a precursor of today's instrument-landing-systems that used radar to permit ground controllers to "talk-down" airplane pilots to safe landings when poor visibility made visual landings difficult or impossible. The resulting 10cm radar was a key technology that enabled the sinking of U-boats, spotted incoming German bombers for the British, and provided cover for the D-Day landing. Loomis increased his fortune further using insider trading practices that now are illegal. Ellen was the daughter of William H. Farnsworth and Lucy Holman Burgess. He had an affair with a colleague's wife, Manette Hobart and, in 1945 he divorced Ellen and immediately married Manette, scandalising New York society.

Loomis's hobbies included automobiles and yachting — racing America's Cup yachts against the Vanderbilts and the Astors. In 1939, Loomis began a collaboration with Ernest Lawrence and he was instrumental in financing Lawrence's project to construct a 184-inch cyclotron. Stimson became a great influence upon Loomis from an early age. in 1933, and from the University of California an LL.D.

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He married Elizabeth Ellen Farnsworth of Dedham, Massachusetts, a member of a prominent Boston society family, on June 22, 1912 and they had three sons, Albert Lee Jr., William Farnsworth, and Henry. Alfred L. Loomis, Jr. (April 15, 1913 – September 7, 1994) was a pioneering investment banker and an American sailor and Olympic champion. Loomis and Thorne pioneered the concept of the holding company, consolidating many of the electric companies on the East Coast of the United States. Sister of Henry Weston Farnsworth.

She was the mother of: Alfred Lee Loomis, Jr. William Farnsworth Loomis Henry Loomis Her ashes were buried in … They became very wealthy by financing the electric companies as they established the electrical infrastructure of rural America, and Loomis sat on the boards of several banks and electric utilities. Loomis made contributions to biological instrumentation as well -- working with Edmund Newton Harvey, he co-invented the microscope centrifuge [cite web | url = http://www.google.com/patents?id=LOdoAAAAEBAJ&printsec=abstract&zoom=4&dq=Alfred.L.Loomis| title = Patent Number 1,907,803 | accessdate = 2008-09-15] , and pioneered techniques for electroencephalography.

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