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<TITLE>SECURITIES AND EXCHANGE COMMISSION</TITLE>


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<B><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">SECURITIES AND EXCHANGE COMMISSION</P>


<P ALIGN="CENTER">WASHINGTON, D.C. 20549</P>


</B></FONT><FONT SIZE=2><P ALIGN="CENTER">&nbsp;</P>


<P ALIGN="CENTER">&nbsp;</P>


</FONT><B><FONT FACE="Arial"><P ALIGN="CENTER">FORM 8-K</P>


</B></FONT><FONT SIZE=2><P ALIGN="CENTER">&nbsp;</P>


</FONT><B><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">CURRENT REPORT</P>


<P ALIGN="CENTER">PURSUANT TO SECTION 13 OR 15(D) OF THE</P>


<P ALIGN="CENTER">SECURITIES EXCHANGE ACT OF 1934</P>


</B></FONT><FONT SIZE=2><P>&nbsp;</P>


</FONT><U><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">February 1, 2005</P>


</U><P ALIGN="CENTER">Date of report (Date of earliest event reported):</P>


</FONT><B><U><P ALIGN="CENTER"></P>


<FONT FACE="Arial"><P ALIGN="CENTER">THE FINOVA GROUP INC. </P>


</B></U></FONT><FONT FACE="Arial" SIZE=1><P ALIGN="CENTER">(Exact Name of Registrant Specified in Charter)</P>


<P ALIGN="CENTER"></P>


<P ALIGN="CENTER">&nbsp;</P></FONT>


<P ALIGN="CENTER"><CENTER><TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=540>


<TR><TD WIDTH="31%" VALIGN="TOP">


<U><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">Delaware</P>


</U></FONT><FONT FACE="Arial" SIZE=1><P ALIGN="CENTER">(State or Other Jurisdiction of Incorporation)</FONT></TD>


<TD WIDTH="39%" VALIGN="TOP">


<U><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">1-11011</P>


</U></FONT><FONT FACE="Arial" SIZE=1><P ALIGN="CENTER">(Commission File Number)</FONT></TD>


<TD WIDTH="29%" VALIGN="TOP">


<U><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">86-0695381</P>


</U></FONT><FONT FACE="Arial" SIZE=1><P ALIGN="CENTER">(I.R.S. Employer Identification No.)</FONT></TD>


</TR>


</TABLE>


</CENTER></P>





<FONT SIZE=2><P>&nbsp;</P></FONT>


<P ALIGN="CENTER"><CENTER><TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=522>


<TR><TD WIDTH="66%" VALIGN="TOP">


<U><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">4800 N. Scottsdale Road, Scottsdale Arizona</P>


</U><P ALIGN="CENTER">(Address of Principal Executive Offices)</FONT></TD>


<TD WIDTH="4%" VALIGN="TOP">


<P>&nbsp;</TD>


<TD WIDTH="31%" VALIGN="TOP">


<U><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">85251-7623</P>


</U><P ALIGN="CENTER">(Zip Code)</FONT></TD>


</TR>


</TABLE>


</CENTER></P>





<FONT SIZE=2><P>&nbsp;</P>


</FONT><U><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">(480) 636-4800</P>


</U><P ALIGN="CENTER">(Registrant's telephone number)</P>


</FONT><FONT SIZE=2><P>&nbsp;</P>


</FONT><FONT FACE="Arial" SIZE=1><P ALIGN="CENTER">(Former Name or Former Address, if Changed Since Last Report)</P>


</FONT><FONT SIZE=2><P>&nbsp;</P>


<P>&nbsp;</P>


</FONT><B><FONT FACE="Arial" SIZE=2><P>Item 8.01. Other Events.</P>


</B><P>The FINOVA Group Inc. ("<B>FINOVA</B>") is filing this report to announce a partial principal prepayment to be made on March 15, 2005<B> </B>(the "<B>Prepayment Date</B>") to holders of record as of 5:00 p.m., New York City time, on March 8, 2005 (the "<B>Record Date</B>") on its 7.5% Senior Secured Notes Due 2009 with Contingent Interest Due 2016 (the "<B>Notes</B>"). The partial principal prepayment is </FONT><FONT FACE="Helv" SIZE=2>$59,358,980</FONT><FONT FACE="Arial" SIZE=2>, together with accrued interest on the portion of the principal being repaid up to but excluding the Prepayment Date.</P>


<P>On February 1, 2005, FINOVA advised The Bank of New York, the Trustee of the Notes, that it would make the partial prepayment noted above. Including the March 2005 prepayment, FINOVA will have prepaid 37.0% of the $2,967,949,000 principal amount outstanding as of December 31, 2003. </P>


<P>This prepayment plus the other prepayments of principal that FINOVA has made on the Notes are listed below:</P></FONT>


<TABLE BORDER CELLSPACING=1 CELLPADDING=7 WIDTH=499>


<TR><TD WIDTH="28%" VALIGN="TOP">


<B><FONT FACE="Arial" SIZE=2><P>Prepayment Date</B></FONT></TD>


<TD WIDTH="26%" VALIGN="TOP">


<B><FONT FACE="Arial" SIZE=2><P>Record Date</B></FONT></TD>


<TD WIDTH="19%" VALIGN="TOP">


<B><FONT FACE="Arial" SIZE=2><P>Principal Amount</B></FONT></TD>


<TD WIDTH="26%" VALIGN="TOP">


<B><FONT FACE="Arial" SIZE=2><P>Cumulative % of </P>


<P>Principal Prepaid</B></FONT></TD>


</TR>


<TR><TD WIDTH="28%" VALIGN="TOP">


<FONT FACE="Arial" SIZE=2><P>May 15, 2004*</FONT></TD>


<TD WIDTH="26%" VALIGN="TOP">


<FONT FACE="Arial" SIZE=2><P>May 10, 2004</FONT></TD>


<TD WIDTH="19%" VALIGN="TOP">


<FONT FACE="Arial" SIZE=2><P>$237,500,000</FONT></TD>


<TD WIDTH="26%" VALIGN="TOP">


<FONT FACE="Arial" SIZE=2><P>Approximately 8%</FONT></TD>


</TR>


<TR><TD WIDTH="28%" VALIGN="TOP">


<FONT FACE="Arial" SIZE=2><P>August 16, 2004</FONT></TD>


<TD WIDTH="26%" VALIGN="TOP">


<FONT FACE="Arial" SIZE=2><P>August 9, 2004</FONT></TD>


<TD WIDTH="19%" VALIGN="TOP">


<FONT FACE="Arial" SIZE=2><P>$326,410,310</FONT></TD>


<TD WIDTH="26%" VALIGN="TOP">


<FONT FACE="Arial" SIZE=2><P>19%</FONT></TD>


</TR>


<TR><TD WIDTH="28%" VALIGN="TOP">


<FONT FACE="Arial" SIZE=2><P>October 15, 2004</FONT></TD>


<TD WIDTH="26%" VALIGN="TOP">


<FONT FACE="Arial" SIZE=2><P>October 7, 2004</FONT></TD>


<TD WIDTH="19%" VALIGN="TOP">


<FONT FACE="Arial" SIZE=2><P>$118,717,960</FONT></TD>


<TD WIDTH="26%" VALIGN="TOP">


<FONT FACE="Arial" SIZE=2><P>23%</FONT></TD>


</TR>


<TR><TD WIDTH="28%" VALIGN="TOP">


<FONT FACE="Arial" SIZE=2><P>November 15, 2004</FONT></TD>


<TD WIDTH="26%" VALIGN="TOP">


<FONT FACE="Arial" SIZE=2><P>November 5, 2004</FONT></TD>


<TD WIDTH="19%" VALIGN="TOP">


<FONT FACE="Arial" SIZE=2><P>$118,717,960</FONT></TD>


<TD WIDTH="26%" VALIGN="TOP">


<FONT FACE="Arial" SIZE=2><P>27%</FONT></TD>


</TR>


<TR><TD WIDTH="28%" VALIGN="TOP">


<FONT FACE="Arial" SIZE=2><P>January 18, 2005</FONT></TD>


<TD WIDTH="26%" VALIGN="TOP">


<FONT FACE="Arial" SIZE=2><P>January 10, 2005</FONT></TD>


<TD WIDTH="19%" VALIGN="TOP">


<FONT FACE="Arial" SIZE=2><P>$178,076,940</FONT></TD>


<TD WIDTH="26%" VALIGN="TOP">


<FONT FACE="Arial" SIZE=2><P>33%</FONT></TD>


</TR>


<TR><TD WIDTH="28%" VALIGN="TOP">


<FONT FACE="Arial" SIZE=2><P>February 15, 2005</FONT></TD>


<TD WIDTH="26%" VALIGN="TOP">


<FONT FACE="Arial" SIZE=2><P>February 8, 2005</FONT></TD>


<TD WIDTH="19%" VALIGN="TOP">


<FONT FACE="Arial" SIZE=2><P>$  </FONT><FONT FACE="Helv" SIZE=2>59,358,980</FONT></TD>


<TD WIDTH="26%" VALIGN="TOP">


<FONT FACE="Arial" SIZE=2><P>35%</FONT></TD>


</TR>


<TR><TD WIDTH="28%" VALIGN="TOP">


<FONT FACE="Arial" SIZE=2><P>March 15, 2005</FONT></TD>


<TD WIDTH="26%" VALIGN="TOP">


<FONT FACE="Arial" SIZE=2><P>March 8, 2005</FONT></TD>


<TD WIDTH="19%" VALIGN="TOP">


<FONT FACE="Arial" SIZE=2><P>$  59,358,980</FONT></TD>


<TD WIDTH="26%" VALIGN="TOP">


<FONT FACE="Arial" SIZE=2><P>37%</FONT></TD>


</TR>


</TABLE>





<FONT FACE="Arial" SIZE=2><P>* Paid on May 17, 2004</P>


<P>The Trustee has agreed to issue the following Notice of Partial Prepayment to holders of Notes:</P>


<B><P ALIGN="CENTER">NOTICE OF PARTIAL PREPAYMENT</P>


<P ALIGN="CENTER">The FINOVA Group Inc.</P>


<P ALIGN="CENTER">7.5% Senior Secured Notes Maturing 2009</P>


<P ALIGN="CENTER">With Contingent Interest Due 2016</P>


<P ALIGN="CENTER">CUSIP No. 317928AA7*</P>


</B><P>To: The Holders of the FINOVA Group Inc.'s 7.5% Senior Notes due (the Notes)</P>


<P>NOTICE IS HEREBY GIVEN, pursuant to Sections 3.03 and 3.07 of the Indenture dated as of August 22, 2001 (the "<B>Indenture</B>") between The FINOVA Group Inc., as Issuer, and The Bank of New York, as Trustee, that $</FONT><FONT FACE="Helv" SIZE=2>59,358,980</FONT><FONT FACE="Arial" SIZE=2> aggregate principal amount (the "<B>Partial Prepayment</B>") of the Issuer's 7.5% Senior Secured Notes Maturing 2009, with Contingent Interest Due 2016 (the "<B>Notes</B>") will be prepaid March 15, 2005 (the "<B>Prepayment Date</B>"), together with accrued interest on the portion of principal being repaid up to but excluding the Prepayment Date. <B>Prepayments will be made to holders of record as of 5:00 p.m., New York City time, on March 8, 2005 </B>(the "<B>Record Date</B>"), which is the fifth business day preceding the Prepayment Date.<B> Payments will be made pro-rata on the Notes</B>. </P>


<P>Payment of the Partial Prepayment on the Notes will be payable <B>without physical presentation</B> <B>and surrender of the Notes </B>to the Trustee, as Paying Agent. The Trustee can be reached at the following address: </P>


<P>&nbsp;</P>


<P>&nbsp;</P></FONT>


<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=456>


<TR><TD WIDTH="53%" VALIGN="TOP">


<U><FONT FACE="Arial" SIZE=2><P>If by Mail</U>:</P>


<P>The Bank of New York</P>


<P>P.O. Box 396</P>


<P>East Syracuse, New York 13057</P>


<P>Attn: Corporate Trust Operations</FONT></TD>


<TD WIDTH="47%" VALIGN="TOP">


<U><FONT FACE="Arial" SIZE=2><P>If by Delivery:</P>


</U><P>The Bank of New York</P>


<P>111 Sanders Creek Parkway</P>


<P>East Syracuse, New York 13057</P>


<P>Attn: Corporate Trust Operations</FONT></TD>


</TR>


</TABLE>





<FONT FACE="Arial" SIZE=2><P>Provided that the Issuer makes the Partial Prepayment, the portion of the Notes prepaid will no longer be outstanding after the Prepayment Date other than the right of holders thereof to receive their pro rata share of the Partial Prepayment, and all rights with respect to the Notes to the extent of the Partial Prepayment will cease to accrue on the Prepayment Date. Interest on the Notes to the extent of the Partial Prepayment will cease to accrue on and after the Prepayment Date.</P>


<B><P>IMPORTANT NOTICE</P>


</B><P>Federal tax law requires that the Trustee withhold 30% of your payment unless (a) you qualify for an exemption or (b) you provide the Trustee with your Social Security Number or Federal Employer Identification Number and certain other required certifications. You may provide the required information and certifications by submitting a Form W-9, which may be obtained at a bank or other financial institution.</P>


<B><P>By: The Bank of New York</P>


</B><P>as Trustee</P>


<P>February __, 2005</P>


<B><P>___________</P>


</B><P>*The Trustee is not responsible for the selection or use of the CUSIP number, nor is any representation made as to its correctness. The CUSIP number is included solely for convenience of the Holders.</P>


<P>Certain statements in this report are forward-looking, in that they do not discuss historical fact, but instead note future expectations. Forward-looking statements are made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those contemplated by the forward-looking statements. Those factors include FINOVA's ability to repay its outstanding indebtedness and/or generate returns for its creditors or stockholders.</P>


<P>FINOVA does not intend to update forward-looking statements to reflect actual results or changes in assumptions or other factors that could affect those statements. FINOVA cannot predict the risk from reliance on forward-looking statements in light of the many factors that can affect their accuracy.</P>


</FONT><B><FONT SIZE=2><P ALIGN="CENTER">&nbsp;</P>


</FONT><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">SIGNATURE</P>


</B><P>Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>


<P>&nbsp;</P>


<B><P ALIGN="CENTER">THE FINOVA GROUP INC.</P></B></FONT>


<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=598>


<TR><TD WIDTH="38%" VALIGN="TOP">


<FONT FACE="Arial" SIZE=2><P>Date: February 1, 2005</FONT></TD>


<TD WIDTH="7%" VALIGN="TOP">


<FONT FACE="Arial" SIZE=2><P>By:</FONT></TD>


<TD WIDTH="55%" VALIGN="TOP">


<U><FONT FACE="Arial" SIZE=2><P>/s/ Richard Lieberman</P>


</U><P>Richard Lieberman</P>


<P>Senior Vice President</P>


<P>General Counsel &amp; Secretary</FONT></TD>


</TR>


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[{"type": "8-K", "sequence": "1", "filename": "rrd66826.htm", "description": "MARCH 15, 2005 PREPAYMENT", "secsgml_size_bytes": 12291}]
{"company-data": {"conformed-name": "FINOVA GROUP INC", "cik": "0000883701", "assigned-sic": "6153", "irs-number": "860695381", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-11011", "film-number": "05565839"}, "business-address": {"street1": "4800 N. SCOTTSDALE RD.", "street2": "P O BOX 2209", "city": "SCOTTSDALE", "state": "AZ", "zip": "85251-7623", "phone": "4806364800"}, "mail-address": {"street1": "4800 N. SCOTTSDALE RD.", "street2": "P O BOX 2209", "city": "SCOTTSDALE", "state": "AZ", "zip": "85251-7623"}, "former-company": {"former-conformed-name": "GFC FINANCIAL CORP", "date-changed": "19930328"}}
SECURITIES AND EXCHANGE COMMISSION
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
February 1, 2005
Date of report (Date of earliest event reported):
THE FINOVA GROUP INC.
(Exact Name of Registrant Specified in Charter)
Delaware
(State or Other Jurisdiction of Incorporation)
1-11011
(Commission File Number)
86-0695381
(I.R.S. Employer Identification No.)
4800 N. Scottsdale Road, Scottsdale Arizona
(Address of Principal Executive Offices)
85251-7623
(Zip Code)
(480) 636-4800
(Registrant's telephone number)
(Former Name or Former Address, if Changed Since Last Report)
Item 8.01. Other Events.
The FINOVA Group Inc. ("
FINOVA
") is filing this report to announce a partial principal prepayment to be made on March 15, 2005
(the "
Prepayment Date
") to holders of record as of 5:00 p.m., New York City time, on March 8, 2005 (the "
Record Date
") on its 7.5% Senior Secured Notes Due 2009 with Contingent Interest Due 2016 (the "
Notes
"). The partial principal prepayment is
$59,358,980
, together with accrued interest on the portion of the principal being repaid up to but excluding the Prepayment Date.
On February 1, 2005, FINOVA advised The Bank of New York, the Trustee of the Notes, that it would make the partial prepayment noted above. Including the March 2005 prepayment, FINOVA will have prepaid 37.0% of the $2,967,949,000 principal amount outstanding as of December 31, 2003.
This prepayment plus the other prepayments of principal that FINOVA has made on the Notes are listed below:
Prepayment Date
Record Date
Principal Amount
Cumulative % of
Principal Prepaid
May 15, 2004*
May 10, 2004
$237,500,000
Approximately 8%
August 16, 2004
August 9, 2004
$326,410,310
19%
October 15, 2004
October 7, 2004
$118,717,960
23%
November 15, 2004
November 5, 2004
$118,717,960
27%
January 18, 2005
January 10, 2005
$178,076,940
33%
February 15, 2005
February 8, 2005
$
59,358,980
35%
March 15, 2005
March 8, 2005
$  59,358,980
37%
* Paid on May 17, 2004
The Trustee has agreed to issue the following Notice of Partial Prepayment to holders of Notes:
NOTICE OF PARTIAL PREPAYMENT
The FINOVA Group Inc.
7.5% Senior Secured Notes Maturing 2009
With Contingent Interest Due 2016
CUSIP No. 317928AA7*
To: The Holders of the FINOVA Group Inc.'s 7.5% Senior Notes due (the Notes)
NOTICE IS HEREBY GIVEN, pursuant to Sections 3.03 and 3.07 of the Indenture dated as of August 22, 2001 (the "
Indenture
") between The FINOVA Group Inc., as Issuer, and The Bank of New York, as Trustee, that $
59,358,980
aggregate principal amount (the "
Partial Prepayment
") of the Issuer's 7.5% Senior Secured Notes Maturing 2009, with Contingent Interest Due 2016 (the "
Notes
") will be prepaid March 15, 2005 (the "
Prepayment Date
"), together with accrued interest on the portion of principal being repaid up to but excluding the Prepayment Date.
Prepayments will be made to holders of record as of 5:00 p.m., New York City time, on March 8, 2005
(the "
Record Date
"), which is the fifth business day preceding the Prepayment Date.
Payments will be made pro-rata on the Notes
.
Payment of the Partial Prepayment on the Notes will be payable
without physical presentation
and surrender of the Notes
to the Trustee, as Paying Agent. The Trustee can be reached at the following address:
If by Mail
:
The Bank of New York
P.O. Box 396
East Syracuse, New York 13057
Attn: Corporate Trust Operations
If by Delivery:
The Bank of New York
111 Sanders Creek Parkway
East Syracuse, New York 13057
Attn: Corporate Trust Operations
Provided that the Issuer makes the Partial Prepayment, the portion of the Notes prepaid will no longer be outstanding after the Prepayment Date other than the right of holders thereof to receive their pro rata share of the Partial Prepayment, and all rights with respect to the Notes to the extent of the Partial Prepayment will cease to accrue on the Prepayment Date. Interest on the Notes to the extent of the Partial Prepayment will cease to accrue on and after the Prepayment Date.
IMPORTANT NOTICE
Federal tax law requires that the Trustee withhold 30% of your payment unless (a) you qualify for an exemption or (b) you provide the Trustee with your Social Security Number or Federal Employer Identification Number and certain other required certifications. You may provide the required information and certifications by submitting a Form W-9, which may be obtained at a bank or other financial institution.
By: The Bank of New York
as Trustee
February __, 2005
___________
*The Trustee is not responsible for the selection or use of the CUSIP number, nor is any representation made as to its correctness. The CUSIP number is included solely for convenience of the Holders.
Certain statements in this report are forward-looking, in that they do not discuss historical fact, but instead note future expectations. Forward-looking statements are made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those contemplated by the forward-looking statements. Those factors include FINOVA's ability to repay its outstanding indebtedness and/or generate returns for its creditors or stockholders.
FINOVA does not intend to update forward-looking statements to reflect actual results or changes in assumptions or other factors that could affect those statements. FINOVA cannot predict the risk from reliance on forward-looking statements in light of the many factors that can affect their accuracy.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
THE FINOVA GROUP INC.
Date: February 1, 2005
By:
/s/ Richard Lieberman
Richard Lieberman
Senior Vice President
General Counsel & Secretary