THE FINOVA GROUP INC.
                         2000 MANAGEMENT INCENTIVE PLAN

I. PURPOSE:

The purpose of the  Management  Incentive Plan ("MIP") is to give key management
employees  an  incentive  to  fully  contribute  to  annual  improvement  of our
historical  operating  results  through  effective  leadership  and  action.  By
operating as efficiently and effectively as possible,  The FINOVA Group Inc. and
its  subsidiaries  (the  "Company")  can  continue  to  position  itself  as the
"low-cost producer" among its peers, a valuable competitive advantage.

II. PARTICIPANTS:

The Human  Resources  Committee of The FINOVA Group Inc.  ("the  Committee")  is
provided a list of Executive Officer  participants  (Securities  Exchange Act of
1934  Section  16(b)   insiders)  at  its  first  meeting  of  the  year  (other
participants may be designated by the Chairman and Chief Executive Officer). The
list includes the proposed current year target MIP percentage,  target MIP award
and  estimated  earnings  for  each  participant.  New  hires,  promotions,  and
acquisitions  will  increase this  estimate.  Terminations,  demotions,  deaths,
retirements, disabilities, and divestitures will decrease this estimate. Some of
these events may result in pro-rata  awards at the same time regular  awards are
made at the beginning of the following year.

The target  percentage  for each  participant is established at the beginning of
each year. Target percentages are based on responsibilities and do not generally
change from year to year except for  promotions and  adjustments  resulting from
market survey data.

Each participant shall prepare a list of individual  objectives at the beginning
of the plan year. The objectives cover financial, task, leadership,  development
and innovation goals. Each objective is weighted based on relative importance.

III. FINANCIAL OBJECTIVES:

Critical  financial  objectives are determined by appropriate senior managers of
the Company. These financial objectives are then weighted.

For 2000 these objective and percentage weightings are:

   PERFORMANCE MEASURE                   FINOVA GROUP        FINOVA CAPITAL
   -------------------                   ------------        --------------
   EARNINGS PER SHARE FROM CONT. OPS..        30%
   RELATIVE SHAREHOLDER PERFORMANCE           10%
   NET INCOME FROM CONT. OPS.                 30%                 40%
   RETURN ON AVERAGE EQUITY                   30%                 40%
   AVERAGE MANAGED ASSETS                                         20%

The target,  minimum  and maximum  performance  level for each  measurement  are
presented to the Committee at its first meeting of the year. Minimum performance
results in 50% achievement,  target performance  results in 100% achievement and
maximum  performance  results in 187% achievement with  consideration  given for
over  achievement of any measure.  However,  maximum pool may not exceed 187% of
target pool.  Performance less than minimum results in zero  achievement.  Other
results are interpolated.

Extraordinary  and unusual  events will  generally  be  excluded  from  results.
Accruals under this Plan are added back for earnings calculations.
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IV. RELATIVE SHAREHOLDER PERFORMANCE:

This measure is a comparison of the Company's total  shareholder  return ("TSR")
as  compared  to the market TSR.  TSR is the  dividend  yield added to the share
price appreciation  (depreciation).  The market TSR is the lesser of the TSR for
the S&P 500 or the S&P Financial  Index. The measurement is based on the average
of the daily high and low share  price for  December  of the  previous  year and
December of the plan year. The minimum  performance  level, which results in 50%
achievement,  is for the  Company's  TSR to equal the  market  TSR.  The  target
performance  level,  100%  achievement,  is for the  Company's TSR to exceed the
market TSR by 2%. The maximum  performance  level, 187% achievement,  is for the
Company's  TSR to exceed  the market TSR by 5% (e.g.  the  Company's  TSR = 20%;
Market TSR = 15%).

V. MIP POOLS AND AWARDS:

The target  MIP Pool for the  Company  is the sum of each  participant's  target
award (earnings multiplied by target percentage). The MIP pool available for the
Company  is the  target  MIP pool  multiplied  by the  achievement  level of all
financial objectives (0% or 50%-187%).

At the end of the plan year,  each MIP  participant  will be  reviewed to assess
their  level  of  completion  of their  individual  objectives.  The  individual
objectives  performance,  the  individual  target  percentage  and the financial
objective  achievement are all considered when determining  recommended  awards.
Individual  awards may not exceed  200% of their  target  award.  The sum of all
individual awards may not exceed the MIP pool available.

An alternate  MIP pool is available to The FINOVA Group Inc.  participants.  The
pool is 25% of subsidiary pools achieved.

VI. SPECIAL ACHIEVEMENT AWARDS AND POOLS:

EXEMPT EMPLOYEES.  Special Achievement awards are available for exempt employees
who do not have job responsibilities  which allow them to be an MIP participant.
The amount of each award is based on the individual's  accomplishments  of their
objectives  detailed at the beginning of the year and the  achievement  level of
the financial  objectives.  The awards may be up to 15% of base earnings  during
the plan year for exempt employees.

NON-EXEMPT  EMPLOYEES.  Special  Achievement Awards are available for non-exempt
employees at the sole discretion of the Company. The amount of each award may be
up to  10% of  plan  year  base  earnings  (excluding  overtime  pay).  Although
non-exempt  employee awards are generally based upon  accomplishment  of certain
objectives, the award is determined at the sole discretion of the Company.

Unused MIP awards are available for Special Achievement awards.  However, unused
Special Achievement awards are not available for MIP awards.

VII. APPROVAL AND DISTRIBUTION:

The  Committee  is  responsible  for  approving  any  partial or full  awards to
Executive Officers (Section 16(b) insiders).  The Chief Executive Officer of The
FINOVA Group Inc. is responsible for approving all other partial or full awards.
The exercise of discretion in the  evaluation of executive  performance  and the
establishment of individual awards shall be guided by this MIP, but shall not be
fettered by the  provisions  hereof.  For example,  the  Committee  may consider
matters such as extensive changes in the environment,  significant  increases in
stockholder  value while  earnings  are below  target,  and  significant  excess
accruals from prior years.
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VIII. COMPENSATION ADVISORY COMMITTEE:

The Compensation  Advisory Committee is appointed by the Chief Executive Officer
of The FINOVA Group Inc. to assist in the  implementation  and administration of
this MIP. The  Compensation  Advisory  Committee  shall  propose  administrative
guidelines to govern interpretations of this MIP and to resolve ambiguities,  if
any, but will not have the power to terminate,  alter, amend, or modify this MIP
or any actions hereunder in any way at any time.

IX. SPECIAL COMPENSATION STATUS:

All bonuses paid under this MIP shall be deemed to be special  compensation and,
therefore,  unless otherwise provided for in another plan or agreement, will not
be included in  determining  the earnings of the  recipients for the purposes of
any pension, group insurance or other plan or agreement of the Company.

X. PLAN TERMINATION:

This MIP shall continue in effect until such time as it is canceled or otherwise
terminated by action of the Committee.  While it is contemplated  that incentive
awards for the MIP will be made, the Committee may terminate,  amend,  alter, or
modify this MIP at any time and from time to time. The Committee shall also have
the right to alter by addition or  deletion,  the  participants  in this MIP and
their  target  awards.  Participation  in this  MIP  shall  create  no  right to
participate in any future year's plan.

XI. EMPLOYEE RIGHTS:

No  participant in this MIP shall be deemed to have a right to any part or share
of this MIP. This MIP does not create for any employee or participant  any right
to be  retained  in  service  by any  company,  nor affect the right of any such
company to discharge any employee or participant from employment.