Transfac Acquires Nickname ‘Transfrac’ in Oil/Gas Industry
Transfac Capital said it has acquired the nickname “Transfrac Capital” in the oil and gas industry. The word “frac” is derived from “fracking,” which is part of the process of recovering oil and gas from an oil shale.
Transfac finances small to midsize oilfield service providers in the Utica and Marcellus shale fields, the Bakken field and the Eagle shale area. The company has committed personnel to these areas in the form of business development officers, and has hosted events for local companies in these areas, including sponsoring and showing support at industry expos and conferences.
Mike Schepper, marketing director of Transfac Capital, stated, “The nickname originated as a spelling error in an article posted by an online oil and gas news site. After this typo occurred, customers began referring to us as ‘Transfrac’ when calling to speak to us regarding financing. We believe the nickname is appropriate due to the large presence Transfac has taken in the oilfield industry. What started as a misprint has turned into a nickname we are enthusiastically embracing and is now spreading rapidly across the oil and gas industry. We are now hearing it from customers all over the country.”
With locations in Salt Lake City, San Francisco, San Diego, St. Louis, Louisiana, North Dakota and Ohio, Transfac Capital offers invoice financing solutions for small to medium-size businesses.