Auto Supplier Support Program
Financing for Auto Parts Suppliers
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A program under the Emergency Economic Stabilization Act
2 recipients
$413.08 million promised
$413.08 million actually invested, loaned, or spent
More info from www.ustreas.gov
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
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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 | Apr. 9, 2009 | $290,000,000 | $290,000,000 | $290,000,000 | |
| Chrysler Receivables SPV LLC | Apr. 9, 2009 | $123,076,735 | $123,076,735 | $123,076,735 |