Chrysler reportedly to get new loans soon

10/26/2010

WASHINGTON — Chrysler Group LLC, the once bankrupt U.S. automaker that received billions in government aid last year, will soon get new federal loans to help retool factories to make more fuel efficient vehicles, according to sources familiar with the matter.

The timing of the Energy Department award to Chrysler is fluid, but the sources said the automaker probably will receive approval for new credit before General Motors Co. does.

Chrysler has applied for roughly $10 billion in loans.