SPECTRUM Commercial Services promoted John Klehm to senior vice president.

Klehm’s seven years of business development efforts have resulted in portfolio growth for SPECTRUM throughout Klehm’s territory of Michigan, Ohio and Indiana.

During his time with the company, SPECTRUM has become a valuable financing alternative for referral sources and prospects throughout the Great Lakes region.

Klehm is a long-time member of Detroit’s chapter of the Turnaround Management Association, where he has served on the board for the past six years chairing the chapter’s newsletter committee.

SPECTRUM, headquartered in Minneapolis, provides asset-based and accounts receivable financing for businesses needing from $100,000 to $6 million secured by accounts receivable, inventory, equipment and real estate.