OUR MISSION
Summit Alternative Investments, LLC (Summit) was founded with the goal of providing expertise in the management of consumer receivables portfolios.
SUMMIT COMPANY PROFILE
- Summit provides investors a whole
new way to participate in the attractive returns offered through the
purchase of consumer receivables. The Summit Alternative Investments team
has the expertise, persistent track record, and risk management structure to
take advantage of the investment opportunities that exist in this arena.
Summit acquires pools of consumer receivables at attractive discounts from
the companies that originated the loans and profits from its ability to
underwrite the default risk and prepayment potential of these loans, while also
increasing payment performance from expert servicing and collections practices.
- Consumer Receivables are loans from
businesses to consumers for products and services purchased. Some examples of
those industries include furniture, appliances, home improvement, and elective
medical
- Summit purchases "micro-ticket loans,"
small-dollar loans up to $20,000 with a historical weighted-average balance of
$6,000
- Summit targets pools of loans with very
strong credit typically averaging a 670 FICOŽ Score, and paid current when
purchased
- For added liquidity, the loan maturities
average less than 60 months
- Coupons range from 0% to 22% and average
16%
- All loans are purchased at a discount to
par
- Total yearly market size of hundreds of
billions of dollars
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