Brookfield, Wis. – – Michael Elton has been promoted to president and chief operating officer of Advantage+, a privately owned, nationwide direct lender based in suburban Milwaukee, company officials said this week. Elton also was elected to the company’s board of directors.
Elton replaces his father, Larry, as president of the 23-year-old company; the elder Elton will continue to serve as chief executive officer and chairman of the board.
“Mike’s been gradually and effectively taking on more responsibilities,” Elton said, noting that his son will be the company’s first chief operating officer. “And despite the limp-along economy, the last two years were our best ever. Our team is smart, strong, and eager for more success. Mike will lead well.”
Elton, 46, earned a bachelor’s degree in business from the University of Wisconsin-Madison in 1991. After college, he worked for several years as a marketing analyst for Success Business Industries. In 1995, Elton left Success and partnered with his brother, Keith, as the owners and operators of Mike’s Ice, a wholesale ice manufacturer and distributor. The brothers sold the company in 1999.
Elton then joined Advantage+ as a collections department employee. He moved up the corporate ladder from there, advancing to a sales position in 2001 and then to vice president of sales in 2005, the same year he was named to the company’s management team.
Advantage+, a nationwide direct lender, offers equipment and working capital loans of $2,000 to $200,000 to small and mid-size companies. The company also provides custom customer finance programs for manufacturers, distributors, and dealers. In addition, Advantage+ also makes direct loans to equipment buyers. The company makes more than one-third of its new loans to existing or previous customers.
Since Advantage+ was founded in 1992, the company has lent $500 million dollars to more than 20,000 businesses. Its managers and a few outside investors own the company. Advantage+ augments its growing capital base with loans from its partner banks, which support small business and free-market capitalism.
For more information about Advantage+ loan programs, contact:
Deanne Schneider firstname.lastname@example.org,
Jim Oberholtzer email@example.com, or
Mike Elton firstname.lastname@example.org
Melanie Kazmierczak email@example.com
Advantage+ is a trade name of Advantage Leasing Corporation