U.S. Treasury gives General Motors $5.4 billion in loans

General Motors today received the second installment of its $13.4 billion in government aid from the U.S. Treasury Department. The U.S. Treasury Department gave GM a total of $5.4 billion to help it avoid running out of cash.

GM has received a total of $9.4 billion so far and is up for another $4 billion on Feb. 17 according to sources.

Under former President George W. Bush, the Treasury agreed to loan GM and Chrysler LLC up to $17.4 billion to keep both companies from going bankrupt.

Source: Detroit News