Information handling system with immediate scheduling of load operations

An information handling system (IHS) includes a processor with a cache memory system. The processor includes a processor core with an L1 cache memory that couples to an L2 cache memory. The processor includes an arbitration mechanism that controls load and store requests to the L2 cache memory. The arbitration mechanism includes control logic that enables a load request to interrupt a store request that the L2 cache memory is currently servicing. When the L2 cache memory finishes servicing the interrupting load request, the L2 cache memory may return to servicing the interrupted store request at the point of interruption.