GM gets second government loan installment of $5.4B
January 22, 2009
General Motors Corp. says it has received the second installment of its federal loan package.
The Detroit automaker says the $5.4 billion from the Treasury Department came Wednesday, bringing the total received so far to $9.4 billion.
The company is supposed to get a total of $13.4 billion, with another installment coming Feb. 17. That's when GM is to submit a plan to the government to show how it will become viable, according to a Jan. 21 AP report in the Chicago Tribune.