Why we do
what we do
At Summar, we believe that funding your business’ growth should be fast and simple. We do this by understanding the challenges you face and offering:
- Transparent pricing
- No chargebacks
- Personalized service
We are a no-hassle funding company.
$ 3 billion
Meet our leaders
Álvaro José Otoya
President and Founder
Specialist in Economics and expert in credit analysis, financial management, factoring, and capital increase.
VP of Sales and Business Development
Deep experience helping national and international companies grow with customized factoring and supply chain finance solutions.
MBA graduate with more than 10 years of experience in factoring and international business.
Luis M. Cabrera
Business Administration and Management graduate with more than 15 years of experience in freight factoring.
Psychologist and Specialist in Strategic Management of Human Resources, with 15 years of experience in HR.
Master of Finance with more than 10 years of professional experience at C-level in financial, manufacturing and services companies. Engineering and Business Administration degree. IFRS Certification. Enterprise Risk Management and Credit Analysis for Loan Origination Seminars.
MBA graduate with 12 years of experience in marketing and communications.
+1 million invoices processed I + 3 million all-time funded
A brief history of Summar
Summar is founded in Miami, Florida, as an international factoring company.
We reach our first $20 million in funded transactions.
we implement our nearshored back-office strategy by opening our office in Colombia.
Summar secured its first bank line of credit.
We launch our Freight Factoring portfolio under the name CashFactor.
We triple our funding credit line, streamline our operation department, and strengthen our team to grow faster.
Summar buys its Miami office building and grows its team by 45%.
we implement a new software tool that allows us to grow exponentially while giving better customer service.
we launch supply chain financing.
Summar joins Scaling-Up, a Gazelles Growth Institute program to help small businesses expand and grow.
We consolidate our brands (Summar and CashFactor) in one: Summar.
We launch our 2-hour funding brand promise. Our Supply Chain Finance purchases grew 1000% since its launch in 2017.
We create Summar University for Sales, Customer Service, and Collections Teams.
We open our Texas office and strengthen our sales division.
We launch a new face, upgrading our corporate image.
We reach 1,000,000 invoices processed.
Ready to learn more about us?
Send us your contact information, and we’ll get in touch with you in one business day or less.