US Lends GM Another $2B

Funds mean firm can keep working towards restructuring deadline
By Nick McMaster,  Newser Staff
Posted Apr 24, 2009 2:03 PM CDT
General Motors world headquarters is shown in Detroit, Tuesday, April 21, 2009. General Motors Corp. could get as much as $5 billion more in federal loans.   (AP Photo/Paul Sancya)
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(Newser) – The Obama administration provided General Motors with another $2 billion in low-cost federal loans today, MarketWatch reports. The funds are intended to keep the company operating as it attempts to restructure ahead of a June 1 deadline. GM has so far received $15.4 billion in loans from the government.