Textron Inc. said its finance unit will stop lending to customers other than those of the company's core manufacturing business.

The Providence, R.I., company said last week in a regulatory filing that its Textron Financial Corp. plans to divest $7.9 billion of its $11.4 billion of receivables — or $2 billion more than it had said it planned to unload about two months ago.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.