Exhibit 21

Subsidiaries of The FINOVA Group Inc.
(February 12, 2001)

|                                           |  |                                                      |                                              |                                                       
|------------------------------------------ |  | ---------------------------------------------------- | -------------------------------------------- | ------------------------------------------------------
|FINOVA Acquisition Corporation(Delaware)**
|                                          
|                                          
|                                          
|                                          
|FINOVA Capital Corporation(Delaware)      
|                                          
|                                          
|                                          
|                                          
|                                           |  | Cactus Resort Properties, Inc. (Delaware)           
|                                          
|                                          
|                                          
|                                          
|                                           |  | Cactus Resort Properties II, Inc. (Delaware)        
|                                          
|                                          
|                                          
|                                          
|                                           |  | Cactus Resort Properties III, LLC (Delaware)        
|                                          
|                                          
|                                          
|                                          
|                                           |  | Commonwealth Avenue Warehouse, Inc. (Florida)       
|                                          
|                                          
|                                          
|                                          
|                                           |  | Desert Communications I, Inc. (Delaware)            
|                                          
|                                          
|                                          
|                                          
|                                           |  |                                                      | Desert Communications II, Inc. (Delaware)   
|                                          
|                                          
|                                          
|                                          
|                                           |  |                                                      | Desert Communications III, Inc. (Delaware)  
|                                          
|                                          
|                                          
|                                          
|                                           |  |                                                      | Desert Communications VI, Inc. (Delaware)   
|                                          
|                                          
|                                          
|                                          
|                                           |  |                                                      | Desert Communications VII, Inc. (Delaware)  
|                                          
|                                          
|                                          
|                                          
|                                           |  | Desert Island Capital Corporation (Delaware)        
|                                          
|                                          
|                                          
|                                          
|                                           |  | FCS 525, Inc. (Delaware)                            
|                                          
|                                          
|                                          
|                                          
|                                           |  | FCS 517, Inc. (Delaware)                            
|                                          
|                                          
|                                          
|                                          
|                                           |  | FFC Distribution Corporation (California)           
|                                          
|                                          
|                                          
|                                          
|                                           |  | FINOVA Aircraft Investors, LLC (Delaware)*          
|                                          
|                                          
|                                          
|                                          
|                                           |  | FINOVA Aircraft Management, Inc. (Delaware)         
|                                          
|                                          
|                                          
|                                          
|                                           |  | The FINOVA (Canada) Group Inc. (Canada)             
|                                          
|                                          
|                                          
|                                          
|                                           |  |                                                      | FINOVA (Canada) Capital Corporation (Canada)
|                                          
|                                          
|                                          
|                                          
|                                           |  |                                                      | FINOVA (Canada) Finance Inc. (Nova Scotia)  
|                                          
|                                          
|                                          
|                                          
|                                           |  | FINOVA Capital Funding (II) Corporation (Delaware)  
|                                          
|                                          
|                                          
|                                          
|                                           |  | FINOVA Capital plc (United Kingdom)                 
|                                          
|                                          
|                                          
|                                          
|                                           |  |                                                      | FINOVA Finance Limited (United Kingdom)*    
|                                          
|                                          
|                                          
|                                          
|                                           |  |                                                      | Greyfin Services Limited (United Kingdom)*  
|                                          
|                                          
|                                          
|                                          
|                                           |  |                                                      | Greyhound Guaranty Limited (United Kingdom)*
|                                          
|                                          
|                                          
|                                          
|                                           |  |                                                      |                                              | Greyhound Credit Limited (United Kingdom)*            
|                                          
|                                          
|                                          
|                                          
|                                           |  |                                                      |                                              | FINOVA Capital Corporation Limited (United Kingdom)*  
|                                          
|                                          
|                                          
|                                          
|                                           |  |                                                      |                                              | Greyhound Financial Services Limited (United Kingdom)*
|                                          
|                                          
|                                          
|                                          
|                                           |  |                                                      |                                              | The FINOVA Group Limited*                             
|                                          
|                                          
|                                          
|                                          
|                                           |  |                                                      | Hunt Bros (Oldbury) Limited (United Kingdom)
|                                          
|                                          
|                                          
|                                          
|                                           |  |                                                      | Townmead Garages Limited (United Kingdom)*  
|                                          
|                                          
|                                          
|                                          
|                                           |  | FINOVA (Cayman) Capital Ltd. (Cayman Islands)       
|                                          
|                                          
|                                          
|                                          
|                                           |  | FINOVA Connecticut Limited Partnership (Delaware)   
|                                          
|                                          
|                                          
|                                          
|                                           |  | FINOVA Corporate Finance Receivables LLC (Delaware)*
|                                          
|                                          
|                                          
|                                          
|                                           |  | FINOVA Denmark, Inc. (Arizona)                      
|                                          
|                                          
|                                          
|                                          
|                                           |  | FINOVA Franchise Receivables LLC (Delaware)         
|                                          
|                                          
|                                          
|                                          
|                                           |  | FINOVA Fund Investments, Inc. (Delaware)            
|                                          
|                                          
|                                          
|                                          
|                                           |  | FINOVA Fund Investments II, Inc. (Delaware)         
|                                          
|                                          
|                                          
|                                          
|                                           |  | FINOVA Fund Investments III, Inc. (Delaware)        
|                                          
|                                          
|                                          
|                                          
|                                           |  | FINOVA Fund Investments IV, Inc. (Delaware)         
|                                          
|                                          
|                                          
|                                          
|                                           |  | FINOVA International Finance LLC (Delaware)         
|                                          
|                                          
|                                          
|                                          
|                                           |  | FINOVA Lease Receivables LLC (Delaware)             
|                                          
|                                          
|                                          
|                                          
|                                           |  | FINOVA Loan Administration Inc. (Utah)              
|                                          
|                                          
|                                          
|                                          
|                                           |  | FINOVA Mezzanine Capital Inc. (Tennessee)           
|                                          
|                                          
|                                          
|                                          
|                                           |  |                                                      | IOL 2000, Inc. (Tennessee)                  
|                                          
|                                          
|                                          
|                                          
|                                           |  |                                                      | Recycling Technologies, Inc. (Tennessee)    
|                                          
|                                          
|                                          
|                                          
|                                           |  |                                                      | Sherwood, Inc. (Tennessee)*                 
|                                          
|                                          
|                                          
|                                          
|                                           |  |                                                      | SWS 5, Inc. (Tennessee)                     
|                                          
|                                          
|                                          
|                                          
|                                           |  |                                                      | SWS 6, Inc. (Tennessee)                     
|                                          
|                                          
|                                          
|                                          
|                                           |  |                                                      | Vision 2000, Inc. (Tennessee)               
|                                          
|                                          
|                                          
|                                          
|                                           |  |                                                      |                                              | Vision 2000 Technologies, Inc. (Tennessee)            
|                                          
|                                          
|                                          
|                                          
|                                           |  | FINOVA Portfolio Services, Inc. (Arizona)           
|                                          
|                                          
|                                          
|                                          
|                                           |  | FINOVA Public Finance, Inc. (Delaware)              
|                                          
|                                          
|                                          
|                                          
|                                           |  | FINOVA Realty Mezzanine Inc. (Delaware)             
|                                          
|                                          
|                                          
|                                          
|                                           |  | FINOVA Resort Assets Company, L.L.C. (Delaware)     
|                                          
|                                          
|                                          
|                                          
|                                           |  | FINOVA Resort Investments Company (Delaware)        
|                                          
|                                          
|                                          
|                                          
|                                           |  | FINOVA Resort Receivables I Inc. (Delaware)         
|                                          
|                                          
|                                          
|                                          
|                                           |  | FINOVA Shelf Corporation (Delaware)**               
|                                          
|                                          
|                                          
|                                          
|                                           |  | FINOVA Stamford LLC (Delaware)                      

Page 1 of 2



---



| |  |                                                         |                                                     |                                        
| |  | ------------------------------------------------------- | --------------------------------------------------- | ---------------------------------------
|
|
|
|
| |  | FINOVA Technology Finance, Inc. (Delaware)*#           
|
|
|
|
| |  |                                                         | FINOVA Health Care Finance Limited (United Kingdom)
|
|
|
|
| |  | FINOVA Ventana LLC (Delaware)**                        
|
|
|
|
| |  | FINOVA/Westbrook Mezzanine Fund, L.L.C. (Delaware)     
|
|
|
|
| |  | Greyfin (Nassau) Limited (Bahamas)*                    
|
|
|
|
| |  |                                                         | Greyfin Corporation (Liberia)*                     
|
|
|
|
| |  |                                                         | Greyhound Shipping Corporation (Liberia)*          
|
|
|
|
| |  | Greyhound Real Estate Finance Company (Arizona)*#      
|
|
|
|
| |  | Greyhound Real Estate Investment BRB Inc. (Arizona)    
|
|
|
|
| |  | Greyhound Real Estate Investment Eight Inc. (Delaware) 
|
|
|
|
| |  | Greyhound Real Estate Investment Eleven Inc. (Delaware)
|
|
|
|
| |  | Greyhound Real Estate Investment Nine Inc. (Delaware)  
|
|
|
|
| |  | Greyhound Real Estate Investment One Inc. (Arizona)    
|
|
|
|
| |  | Greyhound Real Estate Investment Seven Inc. (Delaware) 
|
|
|
|
| |  | Greyhound Real Estate Investment Two Inc. (Arizona)    
|
|
|
|
| |  | Hotel GP LLC (Delaware)                                
|
|
|
|
| |  | New Jersey Realty Corporation II (California)          
|
|
|
|
| |  | New York Realty Corporation II (California)            
|
|
|
|
| |  | NY Hotel Capital LLC (Delaware)                        
|
|
|
|
| |  |                                                         | Hotel Leasing (NY) LLC (Delaware)                  
|
|
|
|
| |  |                                                         |                                                     | The Hotel Leasing (NY) Trust (Delaware)
|
|
|
|
| |  | Penn GP LLC (Delaware)                                 
|
|
|
|
| |  | Penn Hotel Investors LP (Delaware)                     
|
|
|
|
| |  |                                                         | Hotel Leasing (PA) LP (Delaware)                   
|
|
|
|
| |  | Pine Top Insurance Company Limited (United Kingdom)#   
|
|
|
|
| |  | RJ Capital, LLC (California)                           
|
|
|
|
| |  | TriContinental Leasing of Puerto Rico, Inc. (Delaware) 
|
|
|
|
| |  | Wisconsin Hotel Operating Corporation (Wisconsin)      

| |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | *  | INACTIVE         
| |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | -- | -----------------
| |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | ** | SHELL CORPORATION
| |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | #  | IN LIQUIDATION   

Page 2 of 2