BENTONVILLE, Ark. – Loanpal, a point-of-sale payment platform for sustainable home solutions, announced Monday it will open a new operating center in Northwest Arkansas, bringing more than 100 jobs in financial technology to the region.
Loanpal officials say they plan to hire local positions in customer operations, partner management, software engineering and data science. In addition, Loanpal will relocate several current employees to Bentonville to help build the company’s presence. Loanpal is scheduled to open its new office in the Eighth Street Market in early March.
“I am inspired to accelerate the growth of our company in Arkansas and look forward to making meaningful contributions in the Heartland,” said Hayes Barnard, Founder, chairman and CEO of Loanpal. “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.”
Loanpal offers a proprietary point-of-sale platform that equips businesses with the fast and frictionless digital tools they need to deploy sustainable home solutions at scale. The technology provides homeowners with flexible payment options that enable them to achieve everyday savings while updating their homes with modern, efficient technologies such as solar power, battery storage and energy smart heating and cooling. In addition, Loanpal’s platform creates an efficient channel for financial institutions to deploy their capital in high-performing environmental, social and governance (ESG) assets.
Since 2018, Loanpal has empowered more than 175,000 families to upgrade their homes sustainably with a convenient “buy now, pay later” solution. Loanpal’s platform is accessed by more than 12,000 sales professionals at the point of sale, supporting upwards of 20,000 jobs at partnering home improvement businesses across the United States.
“One of my first priorities when I came into office as governor was to strengthen our state’s workforce in technology and computer science,” said Gov. Asa Hutchinson. “Today, I am proud of the progress that we have made. Loanpal is a remarkable company, and their decision to locate a facility here in Arkansas is another example of the growth our state continues to see in the fintech industry.”
“We love to see tech jobs coming to Arkansas, and Loanpal’s decision to locate in Northwest Arkansas speaks volumes about the faith they have in our workforce, said Arkansas Secretary of Commerce Mike Preston. “These jobs will go a long way in improving economic conditions and quality of life for the region.
“The positioning of this new location in the heart of Bentonville strengthens our economy by attracting tech talent and it also increases opportunity for local small businesses,” said Graham Cobb, president and CEO of the Greater Bentonville Area Chamber of Commerce. “We’re proud to encourage and support moves like this, which demonstrate that efforts to showcase this 21st Century Community through events like the NWA Technology Summit are paying dividends. Congratulations to Loanpal and to the team working collaboratively to build the next generation of Bentonville.”
“Our community is constantly growing, and the recruitment of companies, like Loanpal, to our city is a big factor in Bentonville’s growth,” said Stephanie Orman, Bentonville mayor. “Our city is a wonderful place to live, work and play, and the companies that join us here help to improve that quality of life in our area.”
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