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| Support program kicking in |
| Eric Bredemeier
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| Published: April 6, 2009 |
Auto parts suppliers have often received payment for their goods about 45 to 60 days after shipment. Under normal conditions, suppliers had been able to sell or borrow against these receivables to generate cash flow. However, banks have become increasingly reluctant to purchase these receivables or to lend to auto-parts suppliers because of the financial uncertainty of the automakers. |
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