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Larger Businesses and COVID-19: Financial

Relief and Assistance Resources

Updated May 4, 2020
This CRS Insight presents selected resources and CRS products potentially relevant to medium and large
businesses directly affected by the Coronavirus Disease 2019 (COVID-19) pandemic seeking economic
relief and assistance.
The Coronavirus Aid, Relief, and Economic Secirity (CARES) Act, enacted on March 27, 2020, contains
provisions to assist businesses. This Insight focuses on potential sources of assistance designated for
medium and large businesses that do not qualify for Small Business Administration programs or other
assistance programs for small businesses. For small business assistance programs, see CRS Insight
N 11301, Small Businesses and COVID-19: Relief and Assistance Resources, by Maria Kreiser.
Note that this Insight may not include every instance of federal assistance to medium or large firms
provided in response to the COVID-19 pandemic. Firms of this size may have, on occasion, received
funding via other CARES Act mechanisms or facilities. These firms' eligibility for this other funding may
be due to factors or combinations of factors such as the structure of particular programs, how the firm is
organized, or situations involving a specific industry.

Selected Resources

Department of Treasury
The Treasury's Preserving Jobs for Americat hidustry rcsource page describes two programs that provide
federal grants, loans, or loan guarantees directly to select businesses affected by the COVID-19
pandemic-the Payroll Support Program and the CARES Act Loan Program. Both programs were
announced on March 0 2 020.

Payroll Support Program
The Payroll Support Progrmn benefits airline industry employees only, providing up to $25 billion for
passenger air cariors, $4 billion for cargo air carriers, and $3 billion for airport contractors, including
those that provide food, security, ticketing, and cleaning services to air carriers. The details of the

                                                               Congressional Research Service

Prepred for Members aisd
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