General Electric Co.'s (GE) credit card loan-backed deal was increased in size and has launched, according to a person familiar with the matter.

The $1.75 billion issue, dubbed GEMNT 2009-2, was originally $1.25 billion. The single-tranche deal launched at 155 basis points over a short-term benchmark.

Due to price on Wednesday, the deal is eligible for the Federal Reserve's Term Asset-Backed Securities Loan Facility, or TALF. The central bank provides investors with cheap loans to buy newly created asset-backed securities under the program.

The next loan application deadline for the consumer loan-backed portion of the TALF is Thursday.

Nearly $7 billion in deals has surfaced ahead of this deadline. Last month, that figure was a little over $12 billion and in June, it was $16.4 billion.

Most of the consumer loan-backed deals sold this year were eligible for TALF. The program is credited with having boosted the securitization market and helping lower borrowing costs for consumers.

Launched in March, it received a lukewarm welcome because of onerous documentation, but issuers and investors have since warmed to it, with many hoping it is extended past its scheduled expiration at the end of this year.

The Fed has recently also begun to offer attractive financing for new and existing commercial mortgage-backed loans in an effort to revive that sector. The next loan application deadline for the commercial-property portion is Aug. 20.

Wheels Inc.'s fleet-lease backed deal that is also eligible for TALF has also launched. The top-rated portion of the deal, worth $673.913 million, has launched at 155 basis points over one month London interbank offered rate, or Libor. The deal, dubbed Wheels 2009-1, is due to price later Tuesday.

Other issuers for this round of loans include Student Loan Corp. (STU), with a $1.396 billion student loan-backed deal; SLM Corp. (SLM), better known as Sallie Mae; and CNH Capital America LLC.

Price guidance on CNH's $583.25 million deal is out: on the top-rated tranche worth $525 million, it is in the range of 175-185 basis points over 1-month Libor. On the $225 million World Omni deal, it is in the 180-190 basis points over 1-month Libor range.

Price guidance on World Financial's $474.68 million deal has also emerged: it is in the range of 165-170 basis points over a short-term benchmark on the largest triple-A rated tranche worth $375 million. This portion is eligible for TALF loans.

Year-to-date issuance of deals eligible for TALF funds stands at over $60 billion.

-By Anusha Shrivastava, Dow Jones Newswires; 212-416-2227; anusha.shrivastava@dowjones.com