U.S. loans GM $4 billion more

General Motors, which is surviving on $15.4 billion in U.S. government loans, announced today that it has received an additional $4 billion from the government.

In a regulatory filing, GM said it borrowed the additional money today after amending its loan agreement with the U.S. Treasury last Wednesday.

The new loan brings the total amount lent to GM to $19.4 billion.

The automaker said in press release that the new loans are “to maintain adequate liquidity as the company undergoes an aggressive restructuring.”

GM said it had previously believed it would need only $2.6 billion prior to June 1 but now forecasts needing that amount plus an additional $1.4 billion.

The added $1.4 billion “reflects updated timing of when certain expenses would be incurred,” the company said.

The additional amount is being pulled ahead from money that was expected to be borrowed later. GM had forecast that it would need $9 billion from the government after June 1. Now that total has now dropped to $7.6 billion.

“We appreciate President Obama's and his Administration's ongoing support of GM and the domestic U.S. auto industry as we undertake the difficult but necessary actions to reinvent our company,” GM said in a statement. “We will continue to work closely with members of the President's Auto Task Force throughout our restructuring and together we will continue to monitor our liquidity needs during this period.”