Here Are the Companies Getting Federal Covid Relief Funds

(Bloomberg) -- Many publicly traded companies have started filing so-called 8-K statements with the Securities and Exchange Commission showing they’ve obtained funds through the Cares Act, the $2 trillion coronavirus relief package. The funds -- short-term loans, loan guarantees and grants -- are meant as a stopgap to help businesses get by until the economy reopens.

The sprawling law makes money available to millions of small businesses, health-care companies, airlines, defense contractors and more.

The Small Business Administration oversees the $349 billion Paycheck Protection Program, one of the biggest efforts under the Cares Act. In 13 days, it worked with almost 5,000 lenders to approve applications from about 1.6 million firms for $342.3 billion. The rest of the funds went toward fees and processing.

The PPP was designed to help companies with fewer than 500 workers maintain payrolls and cover certain expenses like rent for two months. Companies could seek loans of as much $10 million. They convert to grants if companies keep workers on their payrolls and maintain salaries.

Funds for the program were exhausted as of April 16, but the Trump administration and lawmakers are negotiating adding another $310 billion.

Congress also allocated $454 billion of the $2 trillion package as a backstop for Federal Reserve lending to banks, companies and municipalities. The Fed has announced nine programs, ranging from purchases of commercial paper to helping banks push out billions in loans to small- and medium-sized businesses. The Fed hasn’t said which companies are benefiting.

Another initiative, the Payroll Support Program, is aimed at airlines and requires that funds be used exclusively for payroll and benefit costs.

Here Are the Companies Getting Federal Covid Relief Funds

Carriers are supposed to continue to provide air service to markets served prior to the crisis and refrain from layoffs or from reducing pay and benefits through Sept. 30.

A separate $17 billion pool of money was designated for companies vital to national security and contending with coronavirus disruptions. But the Treasury Department, which will decide how to allocate those funds, has yet to define which companies are crucial to national security.

Below is a non-exhaustive list of public companies Bloomberg has identified as receiving these federal funds. We’ll continue to update as new filings come in:


American Airlines Inc$ 5,810,000,000
Delta Air Lines Inc$ 5,400,000,000
United Airlines Inc$ 2,750,000,000
Alaska Air Group Inc$ 992,000,000
Hawaiian Holdings Inc$ 654,000,000


DaVita Inc$ 240,000,000
Encompass Health Corp$ 213,000,000
Amedisys Inc$ 96,000,000
Chemed Corp$ 80,200,000

Paycheck Protection Program

Ruth’s Hospitality Group Inc$ 20,000,000
J Alexander’s Holdings Inc$ 15,100,000
Fiesta Restaurant Group Inc$ 10,000,000
Potbelly Corp$ 10,000,000
Hallador Energy Co$ 10,000,000
Quantum Corp$ 10,000,000
Broadwind Energy Inc$ 9,500,000
ZAGG Inc$ 9,443,728
Air T Inc$ 8,215,100
WaVe Life Sciences Ltd$ 7,234,890
New Age Beverages Corp$ 6,868,400
DMC Global Inc$ 6,700,000
TSR Inc$ 6,659,220
Lindblad Expeditions Holdings$ 6,600,000
Legacy Housing Corp$ 6,545,700
Kura Sushi USA Inc$ 5,983,290
Perma-Fix Environmental Services$ 5,666,300
Continental Materials Corp$ 5,487,000
Drive Shack Inc$ 5,276,742
Misonix Opco Inc$ 5,199,487
Digimarc Corp$ 5,032,072
SIFCO Industries Inc$ 5,024,732
Frequency Electronics Inc$ 4,964,810
ENGlobal Corp$ 4,915,800
MannKind Corp$ 4,900,000
Aquestive Therapeutics Inc$ 4,830,000
CPI Aerostructures Inc$ 4,795,000
Flotek Industries Inc$ 4,788,100
Emmis Communications Corp$ 4,753,000
Natural Gas Services Group Inc$ 4,600,000
Optinose Inc$ 4,400,000
US Auto Parts Network Inc$ 4,107,388
Crawford United Corp$ 3,679,383
Vaso Corp$ 3,610,900
PolarityTE Inc$ 3,576,145
Ultralife Corp$ 3,459,278
Adamis Pharmaceuticals Corp$ 3,191,700
Ballantyne Strong Inc$ 3,173,900
Biolase Inc$ 2,980,000
CRH Medical Corp$ 2,945,620
Identiv Inc$ 2,900,000
Phunware Inc$ 2,850,336
Joint Corp/The$ 2,730,000
Oblong Inc$ 2,416,600
BK Technologies Corp$ 2,196,335
HyreCar Inc$ 2,004,175
S&W Seed Co$ 2,000,000
LiveXLive Media Inc$ 2,000,000
Enservco Corp$ 1,939,900
Tecogen Inc$ 1,874,200
RiceBran Technologies$ 1,800,000
Blonder Tongue Laboratories$ 1,768,762
Marrone Bio Innovations Inc$ 1,723,000
Westell Technologies Inc$ 1,637,522
BSQUARE Corp$ 1,600,000
Educational Development Corp$ 1,447,400
Workhorse Group Inc$ 1,411,000
Rocky Mountain Chocolate Factory$ 1,400,000
AutoWeb Inc$ 1,380,000
Pro-Dex Inc$ 1,360,100
Eastside Distilling Inc$ 1,044,500
Infinite Group Inc$ 957,373
ImmuCell Corp$ 937,700
ClearPoint Neuro Inc$ 896,000
Intellinetics Inc$ 838,700
Intellicheck Inc$ 796,100
CareView Communications Inc$ 781,800
Mikros Systems Corp$ 753,300
Rave Restaurant Group Inc$ 656,830
Pulmatrix Inc$ 616,795
Helius Medical Technologies$ 323,000
Trovagene Inc$ 305,000
Lodging Fund Reit III Inc$ 286,100
NioCorp Developments Ltd$ 196,300
Hepion Pharmaceuticals Inc$ 176,585

©2020 Bloomberg L.P.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.