Nominee Profile: Advanta

The Company:
Advanta was founded in 1951 as the Teachers Service Organization by Jack Alter, who pursued a vision of addressing the financial needs of an underserved clientele – schoolteachers, like himself. Today, under the leadership of Chairman and CEO Dennis Alter, Advanta is one of the nation’s largest issuers of MasterCard business credit cards to the growing small business market.

Advanta has pioneered many of the marketing techniques common in the financial services industry today, including remote lending, direct mail, and affinity and relationship marketing. Advanta leverages its direct marketing and information-based expertise to identify potential customers and new target markets and to provide an unmatched level of customer service. Advanta cardholders have the ability to personalize their business credit cards, manage their expenses, and create detailed management reports on Advanta’s Web site. They can access a comprehensive suite of products and services online designed to help manage and grow their businesses.

Advanta also has a longstanding commitment to building the communities it serves. Since 1990, the Advanta Foundation has provided more than $10 million in grants to support the arts, education, health, human services and civic development. Learn more about Advanta at www.advanta.com.

On Why They Have Entered The American Business Awards:
"During the course of Advanta’s more than 50-year history, we have undergone tremendous change, as has the world.  While 2002 was challenging in many respects, it also marked a positive turning point for us: a return to a more focused approach on a single market, the growing small business market," said Advanta’s Chairman and CEO Dennis Alter. 

"Earning the recognition of the American business community in the form of a Stevie Award would recognize our employees for their hard work, adaptability, and long-term commitment to the company’s success.  Many of our employees are also shareholders, reflecting the sense of team we have established and a shared confidence in our business model.  A Stevie would also be a tribute to my father, who began this business with a dream and $30 in seed money in the spare bedroom of his home, not unlike many of our customers today."