Transfac Capital, Inc., a specialty finance company providing accounts receivable financing to small and mid-sized companies, today announced the appointment of Steve Hamel as its Business Development Officer, 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.

With over 10 years’ experience in new business development and customer relationship management, Hamel is expected to play an instrumental role in winning Transfac the trust of local business owners and operators in the high growth North Dakota Bakken play. Commenting on Hamel’s appointment, Mike Miller, Director of New Markets at Transfac, stated, “As our Company has continued to expand its presence within the domestic oil and gas industry, it has become imperative that we have strong, capable representation in place to support the specialty financing needs of companies in the Bakken region. With this goal in mind, we are very pleased to welcome Steve to our business development team and believe he will prove to be a valued asset to Transfac and to our customers.”

“I’m very excited to begin fostering new business opportunities while supporting existing relationships for Transfac in an area that I have grown to love. For local E&P companies and industry service providers, the boom taking place in the Bakken continues to fuel both unique business challenges and growth possibilities — and Transfac stands ready to help these companies confront them head on. I look forward to leveraging Transfac’s respected reputation and funding capabilities to earn our Company distinction as the premier provider of specialty financial solutions to the oil and gas industry in this region.”

Transfac’s accounts receivable financing provides working capital for businesses in need of improved cash flow. Oilfield service companies such as drillers, water haulers, tank cleaners and testers often find themselves in a cash crunch. Transfac is a direct source of funding for these and other similar type businesses. For more information regarding small business financing in North Dakota or surrounding areas, please contact Steve Hamel at 701-651-6119 or via email at steveh@transfaccapital.com.

About Transfac Capital, Inc.
Transfac Capital, Inc. has financed business since 1942. With several locations nationwide and growing, coupled with its team’s experience owning and operating companies in the oilfield, staffing and transportation industries, Transfac Capital has become one of the leading factoring and financial business solutions companies in the industry. Transfac Capital offers competitive services in invoice factoring, account receivable management, account receivable financing, inventory financing, purchase order factoring and a fuel card program.

To learn more about Transfac Capital’s financing options for oilfield, transportation, staffing companies, and more please visit www.transfac.com or call 1-800-458-6056.