SPECTRUM History

Since 1995, SPECTRUM Commercial Services Company, headquartered in Minneapolis, Minnesota, has been providing commercial financing solutions to businesses experiencing unique challenges making them unsuitable for traditional bank financing.  SPECTRUM offers Asset-Based Loans ranging from $500,000 to $6,000,000 and Accounts Receivable Financing for businesses needing from $100,000 to $6,000,000.  SPECTRUM's continued success is based on our philosophy of honesty and integrity in approach, creativity, and unsurpassed excellence in customer service.

SPECTRUM was originally launched in 1995 as a division of Schwan's Sales Enterprises, a worldwide leader in food service and a billion dollar player in equipment leasing and commercial finance.  In 2000, Schwan's sold nine commercial finance divisions to U.S. Bancorp.  SPECTRUM, the only non-leasing division sold, was not a long term strategic fit for U.S. Bancorp.

In March of 2001, Brian J. Van Nevel and Steven Lowenthal, long time members of the SPECTRUM Executive Team, led a management buyout of SPECTRUM from U.S. Bancorp.  The entire SPECTRUM team was retained and today SPECTRUM continues its growth in the asset-based lending and accounts receivable financing arenas that it has served since 1995.

Brian J. Van Nevel and Steven Lowenthal, as Co-CEOs of SPECTRUM, are excited to continue our long tradition of assisting businesses in transition.  We offer asset-based lending and accounts receivable financing programs that are extremely creative and competitive and look forward to working with companies in need of our unique services.

 

Principals

BRIAN J. VAN NEVEL

Co-CEO

SPECTRUM Commercial Services Company

PROFESSIONAL BIOGRAPHY

Brian J. Van Nevel is Co-CEO of SPECTRUM Commercial Services Company. Mr. Van Nevel and his partner, Steve Lowenthal, originally purchased SPECTRUM from U.S. Bancorp in March of 2001.

As Co-CEO’s of SPECTRUM, Brian and Steve share responsibility for strategic planning and management of SPECTRUM's growth and success. Brian’s day to day responsibilities include managing the accounts receivable financing program as well as the sales force for the entire organization including offices in Minneapolis and Detroit, coupled with a nationwide broker network.

In 1997, Brian joined SPECTRUM shortly after its founding as its first marketing professional, developing SPECTRUM’s marketing strategy and various marketing and financing programs aimed at referral sources and customers. Brian was very successful in developing a vast referral network of community banks, attorneys, accountants and other financial professionals. He was directly responsible for sourcing the vast majority of SPECTRUM’s portfolio growth. Additionally, during his tenure at SPECTRUM, Mr. Van Nevel has served in numerous roles including:

Prior to SPECTRUM, Brian opened a Minneapolis office for Cascade Finance as Regional Vice President for the Midwest Region providing working capital finance from $50,000 to $2,000,000. Previously, Brian opened a successful Portland, Oregon office as Vice President for CAPCO Financial. Mr. Van Nevel began his asset-based lending career with Fidelcor Business Credit in Los Angeles in 1987 as an account executive and credit analyst working on $500,000 to $10,000,000 loans.

Mr. Van Nevel graduated from Carleton College (cum laude) with a BA in Economics and received his law degree from the Northwest School of Law of Lewis and Clark College (cum laude). Mr. Van Nevel was admitted to the Bar in Oregon and Minnesota.

Mr. Van Nevel published an article entitled “Invoice Financing Turns Paper Into Coin” in Corporate Report Ventures in 1996. He appeared as a guest speaker on the Everyday Entrepreneur Show in 1997 addressing the topic of “Financing Alternatives for Small Businesses.”

Mr. Van Nevel has been a member of the Commercial Finance Association since 1995 and currently serves on its Board of Directors. He is an active member in the Association for Corporate Growth. He has also been a member of the Turnaround Management Association (“TMA”) since 1998, and was the President of the Minnesota TMA for 2004. In 2004, Mr. Van Nevel was recognized by The Business Journal as one of the "40 under 40" recipients in recognition of his achievements in the Minnesota business community.

 

STEVEN LOWENTHAL

Co-CEO

SPECTRUM Commercial Services Company

PROFESSIONAL BIOGRAPHY

Steven Lowenthal is a Co-CEO of SPECTRUM Commercial Services Company.  Mr. Lowenthal and his partner, Brian Van Nevel, originally purchased SPECTRUM from U.S. Bancorp in March of 2001.

As Co-CEO’s of SPECTRUM, Steve and Brian share responsibility for strategic planning and management of SPECTRUM’s growth and success. Day to day, Steve is responsible for operations and administration, asset-based loan management as well as corporate finance.

Steve joined SPECTRUM in 1996 and is its longest serving team member. He developed its lending philosophies as well as the bulk of its monitoring systems and procedures. He has successfully underwritten hundreds of loans and financing relationships helping SPECTRUM’s many customers prosper. He is the originator of SPECTRUM’s customer focused approach to lending.

Steve has been active in the asset-based, factoring and purchase order financing arenas since 1986 and maintains an excellent record in the recovery of troubled loans. Prior to SPECTRUM, Steve worked as a senior account executive at US Bank’s asset based lending division. Previously, Steve also served as an account executive for a provider of working capital through factoring and purchase order financing programs. When Steve was the portfolio manager at SIMCOR Business Credit, the owner of SIMCOR lost access to capital and Steve successfully wound down the entire portfolio, finding a home for each and every borrower.

Mr. Lowenthal received his undergraduate degree (BSB in Business) from the University of Minnesota and his law degree from the William Mitchell College of Law (graduating in the top 10 students of his class) and has completed portions of his Masters of Business Administration. Steve was admitted to the Bar of the State of Minnesota. He is a member of the Commercial Financial Association and the Turnaround Management Association.