Transfac Capital hired Joseph Vargas as collections manager. Vargas has 10 years of experience in commercial banking, most recently serving as collection supervisor in the dealer services department at Wells Fargo in Salt Lake City. Vargas will supervise the collections team and will report to John Thompson, VP operations manager.

“I’m happy to be part of this growing team,” Vargas said. “The Transfac Capital opportunity gives me a chance to use my expertise in collections and banking in a new end-user market and bring new energy and insights to a well-respected organization. Additionally, the recent acquisition by Commercial Credit, Inc. offers additional opportunities and room for growth and development.”

“Joe brings a great deal of industry experience and discipline to the Transfac Capital team, which is very important as we grow our client base and our company. We are excited to have him join us,” said Steve Sala, general manager and senior vice president.

Transfac Capital is a wholly-owned subsidiary of Commercial Credit which provides accounts receivable factoring to middle-market companies nationwide.