Ford To Receive $250 Million Loan To Boost Exports (F)

Automaker Ford F will receive a $250 million loan from U.S. government to help it export more than 200,000 vehicles across the world reports the Detroit News. The models that are being exported are the 2011 Ford Explorer, F-150 pickup, Focus, Escape, Expedition, E-Series Van, Taurus, and Lincoln MKS and Navigator. These cars will be produced locally at plants in Chicago, Dearborn and Wayne, Kansas City, Louisville and Avon Lake, Ohio. The loan is being guaranteed Export-Import Bank of the United States and the Private Export Funding Corp. will provide the funding for the loan. It is expected that the loan will be paid back in full, with interest and fees within one year.