Summit Alternative Investments, LLC
As a private investment management firm, Summit Alternative Investments, LLC (SAI) is the general partner of the Summit Consumer Receivables Fund. SAI is affiliated with SAF Holdings, LLC (www.safholdingsllc.com), which operates bulk consumer loan portfolio buyer and portfolio analytics firm Summit Consumer Receivables Acquisitions, LLC, as well as consumer home improvement loan originator and consumer loan servicer AmeriFirst Home Improvement Finance, LLC (www.trustamerifirst.com).
Summit Consumer Receivables Acquisitions, LLC
Summit Consumer Receivables Acquisitions, LLC (“SCRA”) purchases primarily performing consumer receivables portfolios with its institutional investment partners across a variety of asset classes and product verticals. SCRA sources receivables portfolios through its expansive network of contacts worldwide, and typically performs the pricing, analytics and ongoing servicing for the transactions. SCRA cultivates relationships in the United States and internationally in Canada, Latin America and Western Europe in search of opportunities. On behalf of its investors, Summit has transacted over one billion U.S. dollars in acquisitions (measured by purchase price).
The consumer receivables purchased by SCRA are loans from businesses to consumers for products and services purchased by those consumers. The base of asset classes served by SCRA in the consumer space is broad and includes automobile loans, credit card receivables, student loans, furniture, appliances, jewelry, electronics and loans for various other consumer durables; home improvement and home automation, mortgages, and elective medical and dental procedures, among many others. If you have a portfolio of performing or non-performing consumer receivables making periodic payments which you are considering selling, please reach out to us to discuss the possibilities.
SCRA also helps companies secure several types of larger commercial loans and lines of credit, including re-discount lines of credit for acquiring consumer receivables, and performs consulting services for clients who desire assistance with structuring consumer finance programs and portfolio acquisitions, sourcing lines of credit, or managing and servicing consumer receivables portfolios.
Summit Investment Management, LLC
Summit’s Long-Short Equity division, SIM, runs long-short equity investment funds based on a proprietary model, called VIXEK TM. VIXEK TM (www.vixek.com) is a simple indicator with a nominal range of -5 to +5. Behind its simplicity is a sophisticated, proprietary formula that takes nine primary inputs during the trading day and goes through 17 different calculation steps to arrive at a prediction of which way the US equity market is headed in the near term. SIM’s two Funds invest in liquid ETFs from a range of -1X to +1X the S&P 500, and -2X to +3X the S&P 500.
AmeriFirst Home Improvement Finance, LLC
AmeriFirst is an Omaha, Nebraska-based company that provides “indirect” financing to consumers through a network of retail merchants. A forty-year-old company and leader in the home improvement finance industry, AmeriFirst was acquired from its founding family in 2013. AmeriFirst is a specialty finance company focused on leveraging the experience gained from over three decades of originating and servicing over two billion US dollars of home improvement loans. With its genesis as a captive finance company for a leading home improvement contractor, AmeriFirst has a unique understanding of the home improvement industry as well as other industries including retail finance such as furniture, appliances and jewelry, elective medical procedures, spas and other financed consumer products.
AmeriFirst does its financing one consumer application at a time, utilizing state-of-the-art credit approval mechanics and electronic “instant decisioning” approvals and e-signature technology. In sixty seconds or less, the transaction can be approved, executed and the documents delivered.