National provider of invoice factoring and A/R financing Transfac Capital changed its name to Commercial Funding. The change included the launch of a new website.
Transfac Capital created a new group focused solely on serving the transportation industry. The company hired Jefferey Hogg as the first regional vice president for the group.
Transfac Capital hired Joseph Vargas as collections manager. Vargas most recently served as collection supervisor in the dealer services department at Wells Fargo in Salt Lake City.
Transfac Capital announced Michelle Duran has returned as a VP of business development. Duran has been a commercial finance professional for more than 10 years.
ESP Resources, an oil and gas services company, announced its wholly-owned subsidiary, ESP Petrochemicals, entered into a factoring agreement up to $4 million with Transfac Capital.
Transfac Capital announced it appointed Steve Hamel as BDO, responsible for leading the company’s efforts to increase its marketshare of the oil and gas sector in the North Dakota Bakken and surrounding states.
To support the rapid growth of its account receivable financing lines in key U.S. commercial markets, Transfac Capital expanded their corporate headquarters in Salt Lake City.