EXHIBIT 21

           TEXTRON FINANCIAL CORPORATION -- SIGNIFICANT SUBSIDIARIES

     Set forth below are the names of certain subsidiaries of Textron Financial
Corporation. Other subsidiaries, which considered in the aggregate, do not
constitute a significant subsidiary, are omitted from such list.

<Table>
<Caption>
NAME                                                          JURISDICTION
- ----                                                          ------------
                                                           
Cessna Finance Corporation                                    Kansas
Textron Financial Investment Corporation                      Rhode Island
</Table>