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.
+5000
+20 years
of experience
+1 billion
financed/year
Meet our leaders
Álvaro José Otoya
President and Founder
Specialist in Economics and expert in credit analysis, financial management, factoring, and capital increase.
Always on the move. An intuitive, great leader.
Iván Martínez
VP of Sales and Business Development
Deep experience helping national and international companies grow with customized factoring and supply chain finance solutions.
He is pure energy. His positivism is contagious!
Jennifer Casas
Operations Director
MBA graduate with more than 10 years of experience in factoring and international business.
Her passion and drive inspire everyone around her.
Luis M. Cabrera
Portfolio Director
Business Administration and Management graduate with more than 15 years of experience in freight factoring.
He will always be there for you.
Lucía Baquero
HR Director
Psychologist and Specialist in Strategic Management of Human Resources, with 15 years of experience in HR.
She is our rock – our calm place.
David Gómez
Chief Financial Officer
MBA and Master of Finance with more than 10 years of experience at C-level in financial, manufacturing and services companies. Engineering and Business Administration degree.
He makes superhard stuff look easy.
Martha Hernández
Marketing Director
MBA graduate with 12 years of experience in marketing and communications.
She remembers everything and never misses a thing.
Yobany Espitia
Vice President of Operations
Industrial engineer, finance and production specialist, MBA & M. Sc. in Innovation. +12 years leading financial operations teams.
He has the best remarks in any conversation.
Jorge Hernández
Chief Innovation Officer
Electronic Engineer passionate about data with more than 20 years of experience in customer-facing operational innovation.
He is as modest as he is insightful.
Funding Center
+1 million invoices processed I + 4 million all-time funded
Milestones
A brief history of Summar
-
2004
Summar is founded in Miami, Florida, as an international factoring company.
-
2006
We reach our first $20 million in funded transactions.
-
2009
we implement our nearshored back-office strategy by opening our office in Colombia.
-
2010
Summar secured its first bank line of credit.
-
2011
We launch our Freight Factoring portfolio under the name CashFactor.
-
2013
We triple our funding credit line, streamline our operation department, and strengthen our team to grow faster.
-
2014
Summar buys its Miami office building and grows its team by 45%.
-
2015
we implement a new software tool that allows us to grow exponentially while giving better customer service.
-
2016
we launch supply chain financing.
-
2017
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.
-
2018
We launch our 2-hour funding brand promise. Our Supply Chain Finance purchases grew 1000% since its launch in 2017.
-
2019
We create Summar University for Sales, Customer Service, and Collections Teams.
-
2020
We open our Texas office and strengthen our sales division.
We launch a new face, upgrading our corporate image.
-
2021
We reach 1,000,000 invoices processed.
Alliances and affiliations
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