When customers fall on hard times, Caterpillar Financial Services Corporation sees it as an opportunity to demonstrate that they are not a bank, but a partner who understands their customers’ needs and industry.
That’s exactly what happened when Customer Account Specialist Filecia Davis called to check on a logging customer when his usual payment hadn’t arrived on time. She learned that a tree had fallen on the customer and fractured his back in two places. He was obviously out of work and anticipating high medical bills on top of his usual expenses. As Davis listened to his wife explain the situation and their needs, she knew Cat Financial could help.
When Davis hung up the phone, the Cat Financial team went to work. Davis, along with Customer Account Manager Bill Schowalter, Customer Solutions Support Manager Patrick Carnell and Territory Manager Reed Campbell, approved five months of skipped payments and loan restructure documents in less than 48 hours.
“We understand things happen to our customers that they can’t control,” Carnell said. “Modifications are a great way to show support for our customers and that we have an understanding of their industry that a bank may not demonstrate.”
Knowing that his business assets were secure, the customer could concentrate on getting better and gradually coming back to work.
We can’t always anticipate our customers’ challenges, but when they arise, we can demonstrate that we understand what’s most important: their business, employees and families.