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              Research Service






Larger Businesses and COVID-19: Financial

Relief and Assistance Resources



Updated August 20, 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 Security (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
INI 1301, 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.


Selected Resources


Department of Treasury

The Treasury's Preserving Jobs for American Industry resource 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 30, 2020.

Payroll Support  Program
The Payroll Support Program benefits airline industry employees only, providing up to $25 billion for
passenger air carriers, $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
assistance are outlined in four documents released April 2, 2020, April 3, 2020, April 20, 2020, and July
14, 2020. Applications were accepted online until April 27, 2020, and Treasury began providing payment
data for individual recipients on May 12, 2020.

                                                             Congressional Research Service
                                                               https://crsreports.congress.gov
                                                                                  IN11368

CRS INSIGHT
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