TIAA Bank Small Business Loans Review

About TIAA Bank


TIAA Bank offers a broad selection of banking, lending and investing products to consumers and businesses nationwide.  Headquartered in Jacksonville, Florida, TIAA Bank has approximately $18 billion in assets and $13 billion in deposits and is currently the largest bank headquartered in Florida.

As a stable and rapidly growing national bank, TIAA Bank (formerly EverBank) offers 40 years of lending expertise and a full range of loan products at competitive rates.
--Variety of mortgage products to meet multiple needs.
--National direct lender.
-- Simple loan process for purchases and refinances.
-- Equal Housing Lender and member of the FDIC.

Exceptional Service. Competitive Rates. No Surprise Closings.

NMLS # 399805

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Interest Rates
Fees & Closing Cost
Customer Service

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What is TIAA Bank?

TIAA Bank is the rebranding and combination of EverBank Financial Corp and TIAA Direct. TIAA completed its year-long acquisition of EverBank in 2017. The official name change was announced in June 2018.

Founded more than 20 years ago, EverBank reported $27.8 billion in total assets and $19.3 billion in total deposits in March 2017. TIAA, which celebrates its 100th anniversary in 2018, currently has nearly $1 trillion assets under management in more than 50 countries.

TIAA Bank, a division of TIAA and FSB, offers residential and commercial lending and other banking products and services throughout the US. TIAA Bank is headquartered in Jacksonville, Fla.

What TIAA Bank offers?

TIAA Bank offers lines of credit, revolving lines of credit and term loans through its working capital management program. It also offers capital equipment financing, commercial real estate loans and vendor equipment financing.

Working capital management. Under this program, TIAA Bank provides revolving lines of credit with terms from three to five years and advance rates up to 85% of eligible accounts receivable and up to 65% of eligible inventory.

The program’s stretch cash flow loan is amortized for up to three years and can’t exceed 20% of the total facility. It’s available to borrowers with adequate cash flow.

The term loans offer amortizations for up to seven years for machinery and equipment and up to 15 years for real estate. This option offers advance rates up to 85% of the liquidation value of machinery and equipment, plus up to 60% of fair market value of real estate.

These loans or lines of credit can be used for an array of purposes such as growth opportunities, acquisitions or refinances, seasonal cash flow shortfalls, recapitalizations and restructurings.

Capital equipment financing. Under this program, the bank offers equipment loans, tax, finance/synthetic & TRAC leases, early buyouts, fixed purchase price options and early termination options. The minimum transaction price is $3 million with terms up to 15 years and 100% financing. Interest rates can be fixed or variable and locks are available.

Vendor equipment financing. Under this program, TIAA Bank provides financing to your customers who then can use those funds to buy your inventory or services. TIAA Bank will finance transactions up to $20 million and specializes in office technology, health care, industrial and capital markets.

Commercial real estate loans. TIAA Bank provides acquisition, bridge, refinance and construction real estate loans from $2 million up to $50 million. The maximum loan-to-value ratio is  75% for single-tenant properties; 80% for owner-occupied ones; and 85% for credit tenants. TIAA will finance the following types of properties:

  • Office
  • Warehouse
  • Light industrial & flex
  • Retail
  • Light manufacturing
  • Medical office

Eligibility requirements

TIAA Bank did not list any eligibility requirements on its website and a company representative declined to disclose this information.

How to apply for TIAA Bank financing

To find out more about these financing solutions and to apply, you must call a TIAA customer service representative or fill out an online form. For equipment financing, call 1-866-650-8795. For commercial real estate loans, you can call 1-800-638-2278. For working capital management information, try calling the banking solutions line at 1-866-371-3831, option 5.

Who is the best fit?

The following industries listed on the TIAA Bank website can benefit from the working capitals program:

  • Retail
  • Transportation
  • Seafood
  • Lumber
  • Automotive parts
  • Energy
  • Aviation
  • Healthcare
  • Publishing
  • Industrial
  • Technology
  • Telecommunications
  • Wholesale

Fine print

TIAA Bank’s website has very little information about its business lending products available on its site. The little that is available isn’t organized in a way that’s easy for the average borrower to follow. Lending information for other TIAA Bank’s products are included on the site but it’s unclear whether these products are available to small business owners. There also isn’t any information on how to apply for lending or a link directing you to an application.

The bottom line: How TIAA Bank stacks up

It is difficult to accurately sum up TIAA Bank’s small business lending options when the little information that is available on its site lacks detail and clarity. Its capital equipment financing, commercial real estate loans and vendor equipment financing options all have minimum transaction amounts that may be too high for all but the most established small businesses. Business owners may have an easier time taking advantage of the small business loans and lines of credit under the working capital program. The only way to find out if TIAA Bank is a good match for you is to call the bank and find out what options are available. As always, compare these with other financing options offered by other lenders, so you find the best deal for your business.