Harley-Davidson borrows $2.3 billion from Fed

Harley-Davidson took advantage of the Federal Reserve’s emergency aid by borrowing $2.3 billion in commercial paper, according to data from the Fed and published reports.

Commercial paper is a form of short-term debt used to fund daily activities of major corporations. Companies, including Harley, GE and Verizon, borrowed from the Fed after the commercial paper market froze in the fall of 2008, reported The Washington Post.

Most of the loans have been repaid, and none of the outstanding balances are overdue, the Associated Press reported.

In total with all of its emergency programs, the Fed issued $3.3 trillion in aid.

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