SAF Holdings, LLC
The origins of the Summit family of Companies dates back to 2005, during the creation of AmeriFirst Home Improvement Finance (“AmeriFirst”). In December 2016, SAF Holdings, LLC (“SAF”) was founded as the parent company for both the Summit bulk consumer loan portfolio acquisitions business and the AmeriFirst home improvement loan origination and consumer loan servicing businesses.
SAF’s “bulk” consumer loan portfolio acquisition business takes place under Summit Consumer Receivables Acquisitions, LLC (“SCRA”). SCRA was founded in 2016 to continue the Summit companies’ portfolio acquisition legacy from its predecessors Summit Investment Services and Summit Alternative Investments, which have been acquiring consumer loan portfolios since March 2007 and together have sourced over $1 billion in acquisitions. SCRA is headquartered in Reno, Nevada, and partners with a select group of sophisticated institutional investors for its acquisitions, and has the ability to co-invest alongside them as well. SCRA sources receivables portfolios through its expansive network of contacts worldwide, and typically performs the pricing, analytics and ongoing loan servicing for its acquisitions.
AmeriFirst is responsible for SAF’s home improvement loan origination and consumer loan servicing business. Prior to becoming a national full-service lender in 2006, AmeriFirst had already accumulated three decades of experience building competitive consumer finance programs in the home improvement industry. Headquartered in Omaha, Nebraska, AmeriFirst was acquired from its founding family in 2013. As a specialty finance company focused on leveraging the experience gained from over four decades of originating and servicing over $2 billion of home improvement loans, AmeriFirst is a leader in the home improvement finance industry.
SAF also provides comprehensive data analytics on existing “bulk” portfolios of consumer loans, new “flow” originations of consumer loans, and as an ancillary service to loan servicing for clients. SAF’s data analytics solutions include advanced loan portfolio analysis, delinquency and default projections and portfolio pricing, Key Performance Indicator (“KPI”) development and analysis, and other metrics and tools to better understand and evaluate a portfolio.
The team at SAF has decades of experience in developing consumer finance programs, servicing consumer loans, assisting in consumer loan portfolio acquisitions for a variety of product verticals, and financial data analytics and modeling. The merging of the Summit and AmeriFirst teams’ deep experience enables the creation of exceptional value for all the clients and partners SAF serves.
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.
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.