My finance view

The Treasury Department opened a $5 billion financing support program on Wednesday to help auto suppliers keep parts flowing to General Motors Corp. and Chrysler LLC.

The program, first announced last month, will provide government guarantees for the financing of auto parts that have been shipped to the Detroit carmakers but have not yet been paid for. The funds will be made available from the government’s Troubled Assets Relief Program in a financial entity similar to a revolving credit cheap credit report.

GM and Chrysler will designate the suppliers that need the financing, giving them a large role in determining which suppliers will survive. Ford doesn’t intend to use the program.

GM said its suppliers were allocated $2 billion. Chrysler said it would receive $1.5 billion under the program.

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