Debbie Rechtschaffer

Full story

Real American Express customer who was aware their testimonial may be featured by American Express.

Raising the standard: How American Express helps power the legacy of Electrolift Inc.

Breaking molds and defying expectations, Debbie Rechtschaffer is in an industry where few women venture.

“I was told mechanical engineering wasn’t for girls,” she chuckles. “But I don’t ever give up on getting where I’m going or doing what I need to do.” Today, as the president of Electrolift Inc. in Clifton, NJ, Debbie Rechtschaffer is far from just a figurehead. For more than 30 years, she has been elevating her family-owned business – as well as the traditionally male-dominated field of industrial machinery manufacturing – with its line of strong, robustly dependable hoisting products. Business is thriving, she reports. But when challenges arise, her use of American Express’s products help with the heavy lifting.

“I’ve been an American Express Member for decades,” she says. “Let’s just say I’ve had a lot of customer support.”

Rechtschaffer shared that her business was established in 1932, and that Electrolift is a manufacturer of worm drive wire rope hoists in the United States. The company’s specialized gadgets serve a broad spectrum of industries, from construction giants to aerospace pioneers to critical projects such as the Chernobyl cleanup. Rechtschaffer’s approach to business honors her family’s legacy while pushing industry boundaries.

“My grandfather was from Poland and brought European craftsmanship with him,” she says. “I’m proud that we’ve been able to keep that going and continue the manufacturing tradition that was here in America, too.”

Rechtschaffer’s long-standing relationship with American Express, stretching back to when her father added her to his Card account as an additional Card Member at 13 years old, has evolved into a crucial resource for her business operations. From American Express® Business Checking to American Express^® Business Line of Credit, plus the flexibility of three different American Express^® Business Cards, these products have helped Rechtschaffer manage the financial complexities of running a business.

Streamlining payments with business banking

Rechtschaffer said her switch to American Express^® Business Checking¹ was driven by a desire for greater ease. Rechtschaffer found traditional check payments via mail were no longer as feasible. “During Covid, I had vendors telling me, ‘You never paid me.’ And I was like, ‘Yes, I did.’ That’s when she first recognized that she needed a change. Rechtschaffer then applied and was approved for an American Express Business Checking account in 2023 and was able to officially make the jump to open her fully digital bank account.

“It’s all very simple,” Rechtschaffer says, emphasizing its ease of use.

Covering cash flow gaps with a line of credit

Similarly, the flexibility offered by American Express^® Business Line of Credit² has proven helpful for Electrolift.

“My cash needs evolved, and I needed to buy more inventory,” she explains. “I don’t always have the cash because I’m waiting for someone to pay me. The Business Line of Credit enabled me to keep more inventory on the shelf, which is great for everybody.”

Strategic spending to maximize rewards

Rechtschaffer also told us about how she uses of her American Express Cards to earn and redeem Membership Rewards^® points for use with her business and her personal life alike. With several Cards, including the American Express Business Platinum Card^®, Business Gold Card^®, and Blue Business^® Plus Card³, Rechtschaffer earns points on eligible purchases.

“I’m a big points person,” she admits with a laugh. “American Express lets me redeem points for vacations.” Rechtschaffer capitalizes on her ability to earn Membership Rewards points⁴ by using her Cards for large transactions. She is quick to point out that she uses points not for mundane expenses, but for something far more valuable to her – experiences like flights and hotel stays.

A clearer picture of her select business accounts

Rechtschaffer shared that her journey with Electrolift has been as much about innovation in products as upgrading internal processes, especially in financial management. Central to this transformation has been American Express Business Blueprint^™5, the cash flow management platform that helps her oversee her business’ finances.

Designed to make cash flow management more efficient, American Express Business Blueprint^™ provides a single location where business owners can view a current snapshot of their account balances across their American Express products, including Business Cards and American Express^® Business Checking. With this free online platform, business owners can link external business cards and bank accounts to a dashboard to see a detailed picture of their expenses and revenue. They can also access free cash flow insights to help them make more informed decisions for the future.

“The American Express business platform is giving me greater visibility into my cash flow,” says Rechtschaffer. “I can plan payments and see what my cash flow is going to look like.”

On a personal level, Rechtschaffer says using the Business Blueprint’s product suite has also had a profound impact on her work-life balance through consolidated, digital tools. The platform’s flexibility and accessibility mean she is no longer tied to a rigid office schedule. “I don’t spend 40 hours a week in the office anymore,” she says, highlighting the platform’s adaptability. Whether it’s managing payments on a Tuesday night or keeping operations running smoothly while on a two-week vacation, Rechtschaffer uses Business Blueprint to manage her professional responsibilities so she can focus on her personal life. “Business Checking makes it more feasible to take vacations and make payments at the same time, instead of having to be in the office to write checks and mail them,” she says.

With a range of American Express business products at the ready, Rechtschaffer says that she has found strategic ways to elevate her day-to-day experience. “Starting work in such a pleasant, calming way has lifted my spirits,” she says. By prioritizing financial well-being, family, and those quiet, uplifting moments that start the day right – with a cat in her lap and a coffee in her hand – the engineer-turned-entrepreneur is ready to hoist the world’s weight with grace, ease, and yards and yards of unbreakable wire rope.

Story Footnotes

¹Deposit products are offered by American Express National Bank. Member FDIC. We are currently accepting applications from eligible U.S. businesses. Not all applicants will be approved for a Business Checking account. To learn more about Business Checking, including eligibility, visit https://www.americanexpress.com/en-us/business/checking/

²American Express® Business Line of Credit offers access to a commercial line of credit ranging from $2,000 to $250,000; however, you may be eligible for a larger line of credit based on our evaluation of your business. Each draw on the line of credit will result in either a separate installment loan or a single repayment loan. All loans are subject to credit approval and are secured by business assets. Every loan requires a personal guarantee. For single repayment loans, we charge a total loan fee that ranges from 0.95%-1.80% of the amount you borrow for 1-month loans, 1.90%-3.75% for 2-month loans, and 2.85%-6.05% for 3- month loans.  Single repayment loans incur a loan fee at origination and the principal and total loan fee are due and payable at loan maturity.  There are no required monthly repayments for a single repayment loan.  Repaying a single repayment loan early will not reduce the loan fee we charge you. For installment loans, we charge a total loan fee that ranges from 3-9% of the amount you borrow for 6-month loans, 6-18% for 12-month loans, 9-27% for 18-month loans, and 12-18% for 24-month loans. Installment loans incur a portion of the total loan fee for each month you have an outstanding balance. If you repay the total of the principal of an installment loan early, you will not be required to pay loan fees that have not posted for subsequent months. For each loan that you take, you will see the applicable loan fee before you take the loan. Once you take the loan, the loan fees that apply to that loan do not change.  We reserve the right to change the loan fees that we offer you for new loans at any time.  American Express reserves the right to offer promotions to reduce or waive loan fees from time to time. Not all customers will be eligible for the lowest loan fee. Not all loan term lengths are available to all customers. Eligibility is based on creditworthiness and other factors. Not all industries are eligible for American Express® Business Line of Credit. Pricing and line of credit decisions are based on the overall financial profile of you and your business, including history with American Express and other financial institutions, credit history, and other factors.  Lines of credit are subject to periodic review and may change or be suspended, accompanied with or without an account closure. Late fees may be assessed. Loans are issued by American Express National Bank. 

Single repayment loans may become available to eligible new and existing Business Line of Credit customers at different times.    

If you elect to have your loan funds disbursed directly to a third party payee, you are required to provide accurate and complete payee information. Payees must be located in the US or US territories. The per transaction payee payment maximum is the lesser of your then available line of credit and $100,000. Not all payee industry types are eligible. We may refuse a payee in our discretion or for reasons beyond our control. Loan funds sent to your payee may take up to three (3) banking days to post to the payee's business bank account, although payments may be delayed for a number of reasons and the payee's bank may have their own policy regarding how quickly to post a payment.

If eligible, you can be approved in minutes for a line of credit from $2,000 to $250,000 when we are able to automatically obtain your business data and verify your bank account. If a manual review is required, it will take longer to provide you with a decision.

³Individual Card application and approval required.

⁴Terms and Conditions for the Membership Rewards® program apply. Visit membershiprewards.com/terms for more information. Participating partners and available rewards are subject to change without notice.

The value of Membership Rewards points varies according to how you choose to use them. To learn more, go to https://www.membershiprewards.com/pointsinfo

⁵American Express Business Blueprint is the small business digital experience that allows a customer to view on one digital dashboard summary account information for the following American Express small business products: American Express® Business Cards, American Express®  Business Line of Credit, and American Express®  Business Checking. The customer can also choose to link their third-party issued business bank accounts and business credit cards to Business Blueprint. Not all third party accounts or cards can be connected to Business Blueprint. Business Blueprint allows the customer to view data insights and track their business cash flow and expenses by viewing reports that American Express prepares using the customer's linked account information. Business Blueprint provides a 30-day bank account balance projection, using the daily balances from the customer's linked bank accounts from the last 90 days. To be used in the account balance projection, the customer's bank account must have at least 90 days of data available. While the cash flow management service from Business Blueprint is currently free, each of the business products from American Express that are viable in Business Blueprint has its own fees, eligibility criteria, application process and approval requirements. The Business Blueprint service (including any data insights provided to the customer) does not constitute legal, tax, financial or accounting advice, and is not a substitute for obtaining competent personalized advice from a licensed professional. You should seek professional advice before making any decision that could affect the financial health of your business. American Express makes no representations as to the accuracy, completeness or timeliness of the reports, projections, data or account information that are available to the customer from Business Blueprint.

Explore more stories

Business Blueprint

Business Checking

Business Line of Credit