About Us

ORFAC was formed in 1985. In examining the trucking industry, ORFAC saw an opportunity to provide simple, affordable equipment financing. In 1999, ORFAC began offering commercial financing services for customers of Great West Casualty Company. Today, ORFAC provides financing services to the entire trucking industry.

ORFAC has expanded its product offering greatly over that last 10 years. Below is a breakdown of our product offerings and terms and conditions.

Eligible participants:
ORFAC provides loans to qualified sole proprietorship, partnerships, corporations, and LLC's. All loans must be personally guaranteed by principals.

Programs Available:
Preferred Program: For the more experienced borrower with previous commercial financing credit, this program allows less documentation with more down payment. This type of borrower has a proven track record of being a successful fleet owner or owner-operator and has been in the trucking industry for at least 10 years. These are considered our A+ borrowers.*

Standard Program: For the fleet owner or owner-operator who has been in trucking at least 10 years but may not have as good a credit score or as much of a down payment as a Preferred Program borrower. These are considered our A/B+ borrowers. Standard documentation is required.*

First-Time Owner-Operator Program: Designed to assist a company driver who has been in trucking for at least 10 years and wants to become an owner-operator. Verification of the borrower's driving history as a company driver, proposed haul information, a minimum 20% down payment, and a business plan projection are required.*

If you qualify for one of these programs please contact an ORFAC loan specialist of click on the "Apply for a Loan" link above and complete and submit an application online.

Competitive Rates:
Your interest rate will depend on the year of the unit, the term of the loan, and other relevant underwriting factors.

Minimum Down Payment:
New trucks/trailers: 15%
Used trucks/trailers: 10%

Down payment requirements may be increased depending on the borrower's financial condition and the equipment to be financed.

Terms:
New Tractors and Trailers: a maximum term of 60 months permitted on current year model equipment.

Used Tractors and Trailers: loan term is based on model year of the equipment financed.

Processing/Closing:
ORFAC strives to provide applicants with a preliminary loan decision within 24 business hours of receipt of a completed application. Once a loan is approved, ORFAC can send loan documents to the borrower via E-mail or overnight Express Delivery for signature. Upon receipt of signed loan documents, ORFAC can electronically wire loan funds for closing.

Payments:
ORFAC offers two flexible payment options: ACH payments or check-by-phone. Contact your ORFAC loan specialist for more details.

*All loans are subject to ORFAC's then existing underwriting guidelines. Other terms and conditions may apply. ORFAC reserves the right to change these loan programs at any time. Call ORFAC for full details.