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Advanced Technology Vehicles Manufacturing Loan Program
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<p>Advanced Technology Vehicles Manufacturing (ATVM) Loan Program is a $25 billion direct loan program funded by <a href="/facts/George_W._Bush%2527s_second_term_as_President_of_the_United_States/n3TPjCeF">Congress in fall 2008</a> to provide debt capital to the <a href="/facts/Automobile_industry_in_the_United_States/lC2j5nzG">U.S. automotive industry</a> for the purpose of funding projects that help vehicles manufactured in the U.S. meet higher mileage requirements and <a href="/facts/United_States_energy_independence/uJ81ABUG">lessen U.S. dependence on foreign oil</a>. Of the 108 requests made, 5 were approved to receive $8.4 billion, with the majority of that amount under repayment. </p>