Automotive Industry Financing Program
Loans to the Auto Industry
4
Recipients
$79B
actually invested, loaned, or spent
In mid-December of 2008, the Bush administration stepped in to lend General Motors and Chrysler billions to prevent impending bankruptcy. Subsequently, the Obama administration kept the two companies afloat as they filed for bankruptcy protection. See below for details on outstanding loans to each company.
The following list shows the 4 recipients of Automotive Industry Financing Program.
| Name | State | Date Entered | Disbursed by AIFP | Returned to AIFP |
|---|---|---|---|---|
| General Motors | Mich. | Dec. 29, 2008 | $50,744,648,329 | $39,436,410,235 |
| Chrysler | Mich. | Jan. 2, 2009 | $10,748,284,222 | $9,535,435,217 |
| GMAC (now Ally Financial) | Mich. | Dec. 29, 2008 | $16,290,000,000 | $19,347,502,589 |
| Chrysler Financial Services | Mich. | Jan. 16, 2009 | $1,500,000,000 | $1,525,367,458 |