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1 1 (May 04, 2020)

handle is hein.crs/govdaeb0001 and id is 1 raw text is: i% 'N\ x 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 https://crsreports.congress.gov IN11368 CRS NSMGHT Prepred for Members aisd C o m m itte esn o ff C oo r- _rr ss s ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------