Home » News » GM » GM receives second loan installment of 5.4 billion

General Motors confirmed that it has received the second installment in the amount of 5.4 billion dollars late last night when the government finalized the last details and transferred the money. This second installment is part of the 13.4 billion dollars government loan promised by former President Bush and even though it came a few days later than promised it still came in time to keep the company alive beyond March 31.

Out of the 13.4 billion GM is programmed to receive the last 4 billion dollars in February. That will also be the month General Motors has to present its viability case to the U.S. government and detail the steps on how it will reduce its current 28 billion dollars debt.

 

GM receives second loan installment of 5.4 billion

 

 

 

 

 

 

 

 

 

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