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General Motors

GM gets $4b low interest loan

General Motors has reported that it has recieved $4 billion in low-interest loans coming from the federal government. For sure the infusion of fresh funds to the company will help GM address its financial issues. Chrysler LLC has also applied for the loans but they are still waiting for the approval of the loans since their application process has been slowed down for some reasons. The payment of $4 billion that the car company has received is just the first installment of the &9.4 billion in total loans that the company will get for January this year. And for Feebruary, the company is set to get another $4 bilion. This financial help that the company is getting for 2009 will be used to counter their billion dollar losses and their slowing sales. Chrysler is also expecting that they can get their $4 billion as soon as possible and they will use this as well to sustain their operations.



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