Auto Supplier Support Program

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A program under the Emergency Economic Stabilization Act

2 recipients

$3.5 billion promised

$413.08 million actually invested, loaned, or spent

More info from www.ustreas.gov

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Initiatives and Programs » Emergency Economic Stabilization Act

Financing for Auto Parts Suppliers

With auto parts suppliers struggling as much as the auto companies themselves, this program, announced in March 2009, provides guarantees and financing for auto parts suppliers who might otherwise be unable to access credit. (For instance, suppliers can get a guarantee that they'll be paid for their parts even if the auto company they supply goes under.)

On April 9, 2009, the Treasury made all of the funds available: $3.5 billion for General Motors' parts suppliers and $1.5 billion for Chrysler's. That total was revised down in July for each company to a total of $3.5 billion.

Documents from the Treasury Department:
Auto Supplier Support Program Fact Sheet

More info from www.ustreas.gov

Go to list of all initiatives and programs

For our blog, resources and more, see our main bailout page.

The following list shows the 2 recipients of Auto Supplier Support Program.

Name	State	Date Entered	Amount Committed by ASSP	Amount Returned to ASSP	Total Bailout Commitment
GM Supplier Receivables, LLC		Mar. 4, 2010	$2,500,000,000	$290,000,000	$2,500,000,000
Chrysler Receivables SPV LLC		Mar. 9, 2010	$1,000,000,000	$123,076,735	$1,000,000,000

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