Debbie Rechtschaffer

“Now I’m more aware of my finances, and I know exactly where everything is going to be.”

Debbie Rechtschaffer

Real American Express customer who was aware that 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 Checking 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.

Business Checking has no monthly fees and no minimum balance requirements, and it offers a competitive APY on balances up to $500k. The account’s Business Debit Card makes everyday purchases and ATM withdrawals straightforward and seamless. Members can even convert the Membership Rewards® points they earn into deposits to their Business Checking 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 Credit 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 Card, 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 points 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™, 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.

*Membership Rewards® Program – Redeem for Deposits

When you open an American Express® Business Checking Account, you will also receive a Membership Rewards® Account, in which you will earn one Membership Rewards point for every two dollars of eligible Debit Card purchases. Eligible purchases are purchases for goods and services minus returns and other credits. For more information on eligible purchases, visit membershiprewards.com/terms.

You can redeem Membership Rewards points for a deposit into your checking account. Click here to learn what other redemption options may also be available. If you also have a Rewards Account in connection with a Card Account, your Rewards Accounts can be linked, and you will have access to all redemption options offered with that Card Account. For more information, visit membershiprewards.com/terms.

You may redeem Membership Rewards® points for deposits into your American Express® Business Checking Account at the standard rate of 1000 points for an $8 deposit. If you have a Business Platinum Card® and an American Express Business Checking Account linked to the same Membership Rewards Account, you can redeem points for a deposit at a rate of 1000 points for $10 for up to 1,000,000 points per calendar year, after which you may continue to redeem points at the standard rate. There is no minimum number of points needed to use Redeem for Deposits. American Express will deduct the number of points you select from your Membership Rewards Account and deposit a corresponding dollar amount into your checking account. Generally, deposits will post to your account within 48 hours of redemption. For more information, visit membershiprewards.com/terms.

Membership Rewards® Program

Terms 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 www.membershiprewards.com/pointsinfo.