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Automakers

GM, Ford use payment programs with banks to aid suppliers

Wells Fargo
GM started its early payment program last August with Wells Fargo & Co. (REUTERS)
BK
By:
BEN KLAYMAN
R
By:
Reuters
|
May 28, 2020 11:12 AM

DETROIT -- General Motors and Ford Motor Co. are using fast-payment programs set up with financial lenders to help cash-strapped small suppliers survive production shutdowns caused by the coronavirus pandemic.

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