GM gets its first $4 billion of U.S. loans

By 7 Finance

The Treasury Department gave General Motors Corp. its first multibillion-dollar loan installment Wednesday and released broad guidelines that would let officials provide funds to any company they deem important to making or financing cars.

The Treasury is giving itself room to provide money from the $700-billion Troubled Asset Relief Program beyond loans already committed to GM, GMAC and Chrysler. Analysts have speculated that suppliers, such as GM’s bankrupt former parts unit Delphi Corp., might be eligible for assistance.

categoriafinance commentoNo Comments dataJanuary 1st, 2009
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