DETROIT - It looks like scrappy little Chrysler might yet escape the auctioneer's gavel.

The smallest U.S.-based automaker cleared two major hurdles on Sunday in its quest for survival, reaching a concession agreement with the United Auto Workers and winning ratification of its cost-cutting deal with the Canadian Auto Workers.

That leaves only two obstacles standing between Chrysler and up to $6 billion in additional loans from the U.S. government: A partnership deal with Italy's Fiat Group SpA and an agreement to swap equity for debt with banks and hedge funds that hold $6.9 billion in secured Chrysler loans.

Details of the UAW deal weren't disclosed, but the union said it was crafted together with Chrysler, Fiat Group SpA and the U.S. government. That means the cost cuts have been blessed by the Treasury Department, which has been overseeing efforts to restructure Chrysler and General Motors.

It also means Fiat was heavily involved in negotiations, a sign that the Italian automaker is serious about taking a 20 percent stake in Chrysler in exchange for providing the Auburn Hills, Mich., company with small-car technology.

Chrysler has been living on $4 billion in government loans and may get another $500 million to keep it alive through Thursday's deadline to restructure to the government's satisfaction. If it can't close the final deals, however, no more government money will be made available and the company almost certainly would be auctioned off in pieces under bankruptcy court supervision.

For weeks, it appeared Chrysler might not be able to meet a deadline many in the industry considered impossible. But White House economic adviser Larry Summers said Sunday the Obama administration is holding out hope that Chrysler can avoid bankruptcy court.

And two people briefed on negotiations with Fiat said the companies are close to signing a deal as long as debtholders agree to take equity in the company for a portion of the $6.9 billion they are owed. The people didn't want to be identified because talks have not been made public.