Caterpillar and Tata Capital join hands to provide easy finance to customers

Caterpillar India’s financial products division and Tata Capital Financial Services Ltd (TCFSL), a wholly owned subsidiary of Tata Capital Limited, the financial services arm of the Tata Group, have come together to offer customers finance options for purchasing Cat equipment at all its dealership stores.

Through this model, Caterpillar customers will be offered beneficial quotes and credit approval turnaround. This arrangement aims to tap eight dealer territories of Caterpillar India and benefit from the extensive network and coverage of over 100 TCFSL branches across the country.

Praveen Kadle, MD and CEO of Tata Capital Ltd, said, “We are pleased to have this arrangement with Caterpillar in India to finance its wide range of products and believe that the arrangement is beneficial for all – Caterpillar, Tata Capital and their respective customers. We are confident that customers will find our financing schemes easy and attractive, and that this will be able to add value to their business.”

Kent Adams, president and CEO of Caterpillar Financial Services Corporation, said, “The combination of the globally recognised Caterpillar Financial brand with Tata Capital, which is a well-respected and trusted financial institution in India, creates a powerful competitive advantage for our dealer networks to enable them to obtain financing for their customers and enhance the sale of equipment. We look forward to the success through this model in bringing our support for the dealers and their customers to the next level.”

Sunil Chaturvedi, MD and CEO of   Tractors India, said: “As Indian infrastructure begins to expand again, there has been need for the 'financing products' which carry requisite flexibility while reflecting long-term and abiding customer commitment. This model will bridge this gap effectively and will provide the teeming majority of Indian retail customers a non-leveraged choice and an opportunity to own the best in class equipment. We are very excited and are committed to bring the unprecedented advantages of this combining of forces to reach our existing and potential customers with unique options to serve them even better.”

H Jayaram, MD and CEO of GMMCO Ltd, added, “This arrangement is yet another major step in helping customer buy Cat products with GMMCO’s Product Support at competitive financial offering through Tata Capital, which ultimately will increase customer’s productivity and profitability.”