History

In early 2007, Summit Alternative Investments was founded with the Goal of Bringing the Market New Ways to Acquire Consumer Receivables Portfolios and Innovative Consumer Finance Programs.

The Summit Companies started with Summit Alternative Investments, LLC, (SAI) founded in early 2007, which was initially created to match investors interested in consumer loans with a private investment fund we founded, the Summit Consumer Receivables Fund, L.P. (SCRF).  SAI’s current focus is prime and near-prime credits for delivered products and services across a variety of industries including home improvement, elective medical, jewelry, appliances, and many others, acquired through both smaller to medium-size existing portfolios of receivables, and “forward flow” programs focusing on originating new consumer loans with our clients.

Summit Investment Services, LLC (SIS) was founded in 2012 with the goal of matching larger, more sophisticated and typically institutional investors with larger portfolios of consumer receivables on a “managed account” basis, managing the sourcing, pricing and acquisition process, and also the loan servicing and payment processing of the portfolios.  SIS has also helped our clients by performing consulting services in the consumer finance space, and has worked with multiple clients to help them source larger commercial loans and lines of credit.

Summit Consumer Receivables Acquisitions, LLC (SCRA) was founded in 2016 with the goal of co-investing in and matching larger, more sophisticated and typically institutional investors with larger portfolios of consumer receivables on a “managed account” basis, managing the sourcing, pricing and acquisition process, and also the loan servicing and payment processing of the portfolios.

Summit Investment Management, LLC (SIM) was founded in December 2010 when Atul Minocha, the inventor of the VIXEK model, met Eric Gangloff who conceived the idea of leveraging the VIXEK model by creating a trading algorithm to use VIXEK to generate above-market investor returns in a private investment fund format.  After proving and fine-tuning its investment concept, SIM launched two private investment funds on January 1, 2013, and is building an exciting track record.

At the end of December 2013, Summit Investment Services exercised an option to acquire AmeriFirst Home Improvement Finance Company, Inc.  This marriage of Summit and AmeriFirst has brought to the Summit family of companies a loan servicing, payment processing and origination platform that has further increased Summit’s ability to add value for its consumer finance clients.