FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person *   TENNENBAUM CAPITAL PARTNERS LLC 2. Date of Event Requiring Statement (Month/Day/Year) 07/03/2006 3. Issuer Name and Ticker or Trading Symbol ONLINE RESOURCES CORP [ORCC] (Last) (First) (Middle) 2951 28TH STREET, SUITE 1000 4. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director __X__ 10% Owner _____ Officer (give title below) _____ Other (specify below) 5. If Amendment, Date Original Filed(Month/Day/Year) (Street) SANTA MONICA, CA 90405 6. Individual or Joint/Group Filing(Check Applicable Line) ___ Form filed by One Reporting Person _X_ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Beneficially Owned

1.Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.			SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Series A-1 Convertible Preferred Stock	07/03/2006	  (1)	Common Stock	4,621,570 (1)	$ 16.2283 (1)	I	See footnote (2)

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
TENNENBAUM CAPITAL PARTNERS LLC 2951 28TH STREET SUITE 1000 SANTA MONICA, CA 90405	Â	  X	Â	Â
TENNENBAUM & CO LLC 2951 28TH STREET SUITE 1000 SANTA MONICA, CA 90405	Â	  X	Â	Â
TENNENBAUM MICHAEL E 2951 28TH STREET SUITE 1000 SANTA MONICA, CA 90405	Â	  X	Â	Â

Signatures

/s/ David A. Hollander, under P.O.A. for Michael E. Tennenbaum, as Managing Member of Tennenbaum Capital Partners, LLC		11/20/2006
**Signature of Reporting Person		Date
/s/ David A. Hollander, under P.O.A. for Michael E. Tennenbaum, as Managing Member of Tennenbaum & Co., LLC		11/20/2006
**Signature of Reporting Person		Date
/s/ David A. Hollander, under P.O.A. for Michael E. Tennenbaum		11/20/2006
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 5(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	The Series A-1 Convertible Preferred Stock is initially convertible at a rate of $16.22825 per share into 4,621,570 shares of Common Stock of Online Resources Corporation, subject to certain anti-dilution adjustments, and has no expiration date
(2)	By reason of (a) the position of Tennenbaum Capital Partners, LLC ("TCP") as investment advisor to, inter alia, Special Value Opportunities Fund, LLC, a Delaware limited liability company, and Special Value Expansion Fund, LLC, a Delaware limited liability company, which are the registered holders of the shares of Series A-1 Convertible Preferred Stock convertible into shares of Common Stock of Online Resources Corporation, (b) the position of Tennenbaum & Co., LLC ("TCO") as managing member of TCP and (c) Michael E. Tennenbaum's position as managing member of TCO, each of TCP, TCO and Mr. Tennenbaum may be deemed to share the powers of voting and disposition over the securities described herein. The reporting persons disclaim beneficial ownership of the reported securities, except to the extent of their pecuniary interest therein.

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