REBUILDING MACHINES WITH THE CAT^® CARD

From humble beginnings to a community staple, the Soiland Company has been a Caterpillar customer for more than 60 years.

Founder Marv Soiland forged a relationship with Cat Financial built on mutual respect and a shared vision for success. Together, they've confidently navigated financial challenges over the years, solidifying a bond beyond simple business transactions. Now, as the torch passes to Marv’s son Mark, he honors his father's legacy by upholding the same values and partnership. Inspired by his father's commitment to excellence, Mark continues cultivating Soiland Company’s relationship with Cat Financial, recognizing its pivotal role in sustaining his company's growth trajectory. As the company grew, he embraced the partnership as more than just a business arrangement; it was a testament to the enduring power of collaboration and trust in achieving long-term success.

"They know who I am," says Soiland of Cat Financial. "They understand my business. It's been a great relationship."

The relationship between Soiland Company and Cat Financial has succeeded due to the expertise of Cat Financial in providing financing solutions to fit a variety of customer needs. Deep understanding of a customer’s unique challenges and opportunities enables Cat Financial to offer bespoke financial strategies perfectly tailored to each customer. 

"Cat Financial provides financing solutions throughout a customer's machine life," says Cat Financial Territory Manager Karen McManus. "We do this through our Cat Card. We do it through Customer Value Agreements. And we do it through our Equipment Protection Plans."

When a pair of Soiland’s 988 Large Wheel Loaders needed a powertrain rebuild, Mark got in touch with McManus and Peterson Tractor to find the best long-term solution for their machine rebuild as well as additional support for future parts and service needs. By offering a suite of innovative solutions, which included low-interest financing through the Cat Card, Cat Financial facilitated Soiland's Cat certified powertrain rebuild project and laid the groundwork for future expansion and success.

"Cat Financial was there for us to have a creative way to pay for those expensive rebuilds and give us a second life," Soiland says. "Our local bank and the big five national banks, they don't know our business like Caterpillar knows our business, and it shows in the relationship and the ease of doing business together."

Over the years, numerous companies like Soiland have taken the cost-effective route to rebuild their machines rather than purchasing new ones because of Cat Card's competitive rates, flexible payment terms, and special promotional offerings. These offerings help our customers extend the life of their equipment without compromising their financial stability. By using the Cat Card, customers can easily and quickly access the funds needed to maintain and enhance their equipment's performance, boosting their overall operational efficiency and productivity.

“It frees up cash flow," says Shannon Thomas, Director of Product Support Sales at Peterson Tractor, speaking on the benefits of the Cat Card. "There are a lot of financing promotions available through the Cat Card, and the customer can earn rewards that can then be turned around and used for future parts and service business."

By offering this financial tool to customers, Cat Financial continues to solidify its position as the go-to financial partner for construction businesses seeking tailored solutions for their Cat equipment. Soiland uses the Cat Card to finance their machine rebuilds and parts and service purchases because Cat Financial’s collaboration with Peterson Tractor has made the rebuild process simple, quick, and virtually effortless.

Soiland Company embraces the convenience of using products and services provided by Cat Financial like the Cat Card directly through his local Cat dealership. This collaboration simplifies the entire process, allowing Mark to focus on his projects and not his balance sheet.

“The ease of financing with Cat Financial and using the Cat Card is unlike anything else we’ve experienced,” Soiland says. “Instead of using cash or using our normal loan line of credit capability with our local bank, we essentially have this whole secondary [financial] relationship. Cat Financial has been there for us on both new [equipment] and [machine] rebuilds with low-interest financing, making it much easier for us to do the loan documentation than a typical large or regional bank.”

Through a seamless integration of services, and a focus on ease of doing business, Cat Financial is poised to support Soiland Company with a variety of financial and maintenance solutions and is ready to take on the opportunities that lie ahead.