TIAA Commercial Finance, Inc
TIAA Commercial Finance, Inc: Rising to New Heights
Company: TIAA Commercial Finance, Inc
BIGGEST DEAL: $1.5B Healthcare Equipment Financing Portfolio
In 2017, TIAA acquired EverBank, a nationwide financial institution with more than 50 years of banking experience and a long history of proven performance. TIAA Bank, a division of TIAA, FSB, provides full-service banking and lending services to consumer, commercial and institutional clients through a variety of channels, including online and mobile applications, and Florida-based financial centers. TIAA Bank’s equipment financing team, TIAA Commercial Finance, is the successor to EverBank Commercial Finance. Headquartered in Jacksonville, Florida, TIAA Bank serves clients nationwide. As of December 31, 2018, TIAA Bank had $36.9 billion in assets and $23.5 billion in deposits. TIAA, a Fortune 100 financial services organization, has $1 Trillion in assets under management as of March 31, 2019.
While TIAA was founded by Andrew Carnegie over 100 years ago, TIAA Bank’s Vendor Equipment Finance business traces its roots to our establishment as US Express Leasing in 2004. Our team provides equipment financing for critical business assets originated exclusively through vendor partners in four main channels: Office Products, Healthcare, Industrial and Capital Markets.
Since inception, our vendor platform has been dedicated to providing client-focused solutions that empower vendors to transact business seamlessly and efficiently. Our industry leading FastAnswers web portal is considered a best in class solution that enables our vendor partners to submit applications and funding packages effortlessly and utilize an extensive array of customer management and reporting capabilities.
Following the acquisition by TIAA, we announced a transformative strategic initiative that included a significant investment in our business. We enhanced client experience by emphasing digital solutions, such as automation, electronic documents and API integration. We also focused on our core business and de-emphasized non-core product lines of limited scale.
This led to a significant landmark in 2018 with the $1.5 billion acquisition of a domestic healthcare portfolio. Additionally, we signed a five year vendor program to provide financing for a leading global medical technology company.
For more information, please visit TIAABank.com or contact 866-879-8795