Elton succeeds father as president of Advantage+

Michael Elton has been promoted to president and chief operating officer of Advantage+, a Brookfield-based, privately owned, nationwide direct lender to businesses.

Elton also was elected to the company’s board of directors.

Elton succeeds his father, Larry, as president of the 23-year-old company. Larry will continue to serve as chief executive officer and chairman of the board.

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“Mike’s been gradually and effectively taking on more responsibilities,” Larry 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.”

Michael Elton, 46, 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+ 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. Since Advantage+ was founded in 1992, the company has lent $500 million to more than 20,000 businesses.

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