Pricing Supplement No. 1 dated July 15, 1999                      Registration No. 333-74473
(To Prospectus dated July 7, 1999 and                                              333-74473-01
Prospectus Supplement dated July 12, 1999)                      Filing under Rule  424(b)(3)

                                    FINOVA CAPITAL CORPORATION
                                  Medium-Term Notes - Fixed Rate
==================================================================================================
Principal Amount: $100,000,000.00            Original Issue Date (Settlement Date): July 20, 1999

Interest Rate: 5.875% per annum              Stated Maturity: July 20, 2000
==================================================================================================

Interest Payment Date(s): [X]   March 15 and September 15
                          [ ]   Other:

Regular Record Dates:     [X]   March 1 and September 1
                          [ ]   Other:

First Payment Date:       September 15, 1999

Redemption:

[X]  The Medium-Term Notes offered pursuant to this Pricing Supplement (the "Notes") cannot be
     redeemed at the option of FINOVA Capital Corporation (the "Company") prior to Stated
     Maturity.
[ ]  The Notes may be redeemed at the option of the Company prior to Stated Maturity.
     Initial Redemption Date:
     Initial Redemption Percentage:
     Annual Redemption Percentage Reduction:       until the Redemption Price is 100% of the
          Principal Amount.

Optional Repayment:

[X]  The Notes cannot be repaid at the option of the Holders thereof prior to Stated Maturity.
[ ]  The Notes can be repaid at the option of the Holders thereof prior to Stated Maturity.
     Optional Repayment Date(s):

Authorized Denomination (if other than $1,000 and integral multiples thereof):

Original Issue Discount: [ ] Yes  [X] No
         Total Amount of OID:                            Yield to Maturity:
         Initial Accrual Period:                         Issue Price:

Method used to determine yield for Initial Accrual Period:

[ ]  Approximate
[ ]  Exact

Form:  [X] Book-Entry   [ ] Certificated

Agent: [ ] ABN AMRO Incorporated
       [ ] Banc of America Securities LLC
       [ ] Deutsche Bank Securities Inc.
       [ ] Morgan Stanley & Co. Incorporated
       [ ] Salomon Smith Barney Inc.
       [X] Other: BARCLAYS CAPITAL INC.

       Agent is acting in the capacity indicated below:
       [X] Agent  [ ] Principal


If as principal:

[ ]  The Notes are being offered at varying prices related to prevailing market prices at the
     time of resale, plus accrued interest, if any, from the Original Issue Date.

[ ]  The Notes are being offered at a fixed initial public offering price of        % of the
     Principal Amount, plus accrued interest, if any, from the Original Issue Date.

If as agent:

     The Notes are being offered at a fixed initial public offering price of 100% of the
     Principal Amount, plus accrued interest, if any, from the Original Issue Date.

Agent's discount or commission: .081%

Net proceeds to Company: $99,919,000.00

CUSIP: 31808CCR1

Trustee: The First National Bank of Chicago

Other Provisions:






Certain capitalized terms used in this Pricing Supplement and not defined herein
have the respective  meanings  ascribed thereto in the Prospectus and Prospectus
Supplement referred to above.

                                       2