The crushing financial problems in the auto industry don’t just affect the automakers, they also are causing serious problems for auto parts suppliers that depend on the Big Three for their livelihood. Automotive News reports that a group of suppliers has asked the federal government for even more of a bailout than GM and Chrysler have gotten so far:
 

Auto suppliers today asked for $18.5 billion in federal aid to see them through the industry downturn.

The suppliers requested $8 billion in federal loan guarantees so parts makers can borrow from commercial banks, said Neil De Koker, CEO of the Original Equipment Suppliers Association.

The other $10.5 billion is for government guarantees of supplier receivables from the Detroit 3. Those loans would allow suppliers to use their receivables for parts already delivered as loan collateral with traditional lenders, De Koker said.

In a sense, this is all part of the Big Three bailout. Part of the loans would be to ensure that suppliers got paid in 10 days rather than the usual 45 days.