diff --git a/lib/loader.js b/lib/loader.js
index 58f9fba6..0adcd82d 100644
--- a/lib/loader.js
+++ b/lib/loader.js
@@ -38,7 +38,8 @@ module.exports = function (source) {
     'webpackConfig',
     'htmlWebpackPlugin'
   ];
-  return 'var _ = require(' + loaderUtils.stringifyRequest(this, require.resolve('lodash')) + ');' +
+  // Require !!lodash - using !! will disable all loaders (e.g. babel)
+  return 'var _ = require(' + loaderUtils.stringifyRequest(this, '!!' + require.resolve('lodash')) + ');' +
     'module.exports = function (templateParams) {' +
       // Declare the template variables in the outer scope of the
       // lodash template to unwrap them