Sunday, March 08, 2009

Toyota Financial Services: Bailout or Loan?

Just the other day, I wrote that Toyota Financial Services was in trouble and its officials sought government support amidst tough economic recession. George Borst President & CEO Toyota Financial Services has stated that too much was made about it in the media and in the blogs. In Toyota’s blog, he said:

So, let’s just set the record straight.

Unlike other companies that have sought government loans to keep their manufacturing and operations afloat, we are not seeking any funds for operational expenses. A role of the JBIC is to respond to financial disorder in the international economy. TFSC’s discussion with the JBIC is to explore additional sources of funding so that we can continue to provide consumers access to the credit they need.