Textron Financial Adds New Offering To Accelerate
Cash Flow
Providence, RI -- November 9, 2006 -- The Commercial Finance Division of Textron Financial Corporation, a Textron Inc. (NYSE: TXT) company, announces the release of Receivables Process Management (RPM). This is an innovative new product that combines a line of credit with trip document processing that makes it possible for trucking companies to significantly accelerate cash flow. With financing from Textron Financial and document processing by ACS TripPak SERVICES™, RPM provides carriers a distinct advantage by enabling companies to streamline internal operations while slashing as much as two weeks off their billing cycle.
Textron Financial has been serving the working capital needs of transportation companies for over 22 years. "We are very excited about this new program," said John Enyart, president of the Commercial Finance Division of Textron Financial. "RPM will allow transportation companies the ability to increase liquidity with advance rates up to 95 percent and accelerate cash flow by going from load delivery to cash in as little as one to two days. In addition, the RPM product will allow companies to streamline operations, ensure record integrity and improve customer satisfaction."
"The RPM line offers a significantly higher level of funding for growing transportation companies or carriers," says Steve Waymel, regional vice president for TripPak SERVICES. "By integrating TripPak SERVICES, including envelope, image and technology delivery, Textron Financial is helping transportation companies access unparalleled turn-around capabilities for document and image processing, along with accelerated cash flow."
About ACS TripPak SERVICES™
Established in 1989, ACS TripPak SERVICES
is the recognized leader in business process improvement and outsourced IT
solutions in the truckload market segment. The company offers a wide variety
of flexible, driver friendly, expedited document management services used by
large and small transportation companies. For more information on the RPM Line
or other services including ACS TripPak SCANNING™ branded solutions, ACS TripPak EXPRESS ® drop box service, the ACS TripPak ONLINE™ family of workflow and imaging solutions, and ACS TripPak RAPIDLOG™ log
auditing resource, please visit www.trippak.com or call 800-298-7202.
About Textron Financial Corporation
Textron Financial is a diversified commercial finance company
with $9 Billion in managed and serviced finance receivables.
It has core businesses in Aviation Finance, Asset-Based Lending,
Distribution Finance, Golf Finance, Resort Finance, and Structured
Capital. Textron Financial also provides financing programs for
products manufactured by its parent company, Textron Inc. Additional
information about the company is available at www.textronfinancial.com.
About Textron Inc.
Textron Inc. (NYSE: TXT) is a $10 billion multi-industry company
with 44,000 employees in 40 countries. The company leverages its
global network of aircraft, industrial and finance businesses
to provide customers with innovative solutions and services. Textron
is known around the world for its powerful brands such as Bell
Helicopter, Cessna Aircraft, Jacobsen, Kautex, Lycoming, E-Z-GO
and Greenlee, among others. More information is available at www.textron.com.