BUSINESS
11/27/2008 05:12 am ET | Updated May 25, 2011

GM May Get Loan For Chrysler Deal

WASHINGTON -- The Department of Energy is working to release $5 billion in loans to General Motors Corp., according to a person familiar with the matter, a move that could help ease the way for the auto maker's discussed merger with fellow struggler Chrysler LLC

The funds would come from a pool of $25 billion in low-interest loans approved by Congress to help Detroit retool its plants to meet new fuel-efficiency standards. It's not clear how quickly the money could be made available or whether it would come with strings attached.

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