PROVIDENCE — Textron Financial Corporation, a subsidiary of Textron Inc. that makes loans to the aviation, golf, vacation interval resort, franchise finance and telecommunications industries, has established a new lending group, Technology Finance Division.
According to Textron, the new lending group was formed as a result of Textron Financial’s purchase of certain assets of the Distribution & Channel Finance Division of Finova Capital Corporation last month. The Technology Finance Division offers financing to the telecommunications industry, such as leasing, short-term and working capital financing, term loans, and private label financing, Textron said.
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John C. Reed will be senior vice president and division manager of the lending group. According to Textron Financial group president Jerry Britton, a small group of employees from Finova Capital will join Reed.
