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Cars Blog

GM, Chrysler to get $5.5B more in government loans

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April 21, 2009 11:46 am
By Peter C. T. Elsworth

DETROIT -- General Motors could get as much as $5 billion more in federal loans, while Chrysler LLC could get $500 million as they race against government-imposed deadlines to restructure, according to a government report filed Tuesday and reported by The Associated Press.

The quarterly report by a special inspector general on the auto industry and bank bailout programs says the money will be made available for working capital. GM has until June 1 to complete restructuring plans that satisfy the government's auto task force, while Chrysler has until April 30.


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