Textron Exits Non-Captive Financing Business

Textron (a FEMA Services-endorsed financing business) announced that, with the exception of its own captive manufacturing business (Cessna Aircraft, E-Z-Go Golf Carts, Bell Helicopter) it is getting out of other financing business. Shortline companies that are currently using Textron must arrange additional financing no later than Feb. 27, 2009 if it is to be approved. Sources say that payments must be kept current.

At the current time, FEMA is not aware of other specific sources of floor plan financing available to shortline manufacturers. One source to consider is local banks. As we hear of additional sources, we’ll certainly pass along this info.