Natural State News

A new Loanpal operating center is planned for the Bentonville area, with the new facility expected to add approximately 100 financial technology jobs to the local economy.

The new facility is scheduled to open in the 8th Street Market in March, according to a company press release.

Loanpal is a point-of-sale payment platform, and a leader in the sustainable home solutions market, according to the release. Positions that they will have to fill at the new facility include customer operations, partner management, software engineering and data science.

The company’s proprietary platform is meant to improve the speed and ease with which homeowners can purchase updates such as solar power, battery storage and energy smart heating and cooling, the release states. Loanpal also enables customers to access flexible payment options for their purchases.

Hayes Barnard, Loanpal founder, chairman and CEO, said that he is looking forward to the expansion in northwest Arkansas.

"I am inspired to accelerate the growth of our company in Arkansas and look forward to making meaningful contributions in the Heartland," Barnard said in the release. "At the heart of our business is a drive to create more mission-driven American jobs that people are proud of, while building technology to connect a world in which we all live more sustainably."

Mike Preston, Arkansas secretary of commerce, said that the state welcomes investments such as Loanpal’s new facility, and the jobs that they bring.

"These jobs will go a long way in improving economic conditions and quality of life for the region,” Preston said in the release.

Approximately 175,000 homeowners have used the program since 2018, and they have approximately 12,000 sales professionals using their program, according to the release. The company estimates that they support approximately 20,000 jobs through the home improvement businesses that use the program as well.