Summit Consumer Receivables

Fund, L.P.

Fund Investment Objectives

In pursuit of the Partnership's investment objectives, the General Partner focuses primarily on purchasing performing, micro-ticket, unsecured consumer receivables. The Partnership may also invest in securities offered in public and private offerings. The Partnership focuses mainly on near-prime and prime credit quality consumer receivables, but with appropriate discounts to par will also purchase lower credit receivables from time to time. The Partnership may make use of moderate borrowing to facilitate limited partner withdrawals or leverage its holdings at such times and in such amounts as the General Partner determines appropriate. The Partnership's actual portfolio mix at any given time is driven by current market conditions and relative risk/reward characteristics. The Partnership employs a diversified consumer receivables methodology. The primary strategy utilized by the General Partner is to purchase performing, micro-ticket, unsecured consumer receivables directly from small and medium-sized businesses which originate them, as well as from finance companies which purchase or originate similar consumer receivables, after performing necessary due diligence. Some examples of those industries include furniture, appliances, home improvement, and elective medical. The General Partner intends to purchase such portfolios from said institutions at a significant discount to current value, in an attempt to profit from the difference. With a total return net of all fees and costs since inception through July 2014 of 55.138%, we believe we are well positioned to take advantage of fire sales and excellent pricing of high-credit-quality, performing consumer receivables with reduced competition from other buyers.