Here Are the Companies Getting Federal Funds for Covid Relief

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.

As of April 13, about 1.6 million small businesses had been approved for loans through the $349 billionPaycheck Protection Program, one of the biggest efforts under the Cares Act. The program, overseen by the Small Business Administration, was designed to help companies with fewer than 500 workers maintain payrolls and cover certain expenses like rent for two months. The program offers loans of as much $10 million, which convert to grants if companies keep workers on their payrolls and maintain salaries.

The package also provides about $500 billion in loans and assistance for big companies, as long as they retain most employees and don’t conduct stock buybacks.

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

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 companiesvital 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 Inc5,400,000,000
Alaska Air Group Inc992,000,000
DaVita Inc240,000,000
Encompass Health Corp213,000,000
Amedisys Inc96,000,000
Chemed Corp80,200,000
Meritage Hospitality Group29,100,000
Ruth’s Hospitality Group Inc20,000,000
J Alexander’s Holdings Inc15,100,000
Fiesta Restaurant Group Inc10,000,000
Potbelly Corp10,000,000
Hallador Energy Co10,000,000
Quantum Corp10,000,000
Shake Shack Inc10,000,000
ZAGG Inc9,443,728
Air T Inc8,215,100
WaVe Life Sciences Ltd7,234,890
New Age Beverages Corp6,868,400
Lindblad Expeditions Holdings6,600,000
Legacy Housing Corp6,545,700
Kura Sushi USA Inc5,983,290
Perma-Fix Environmental Services5,666,300
Drive Shack Inc5,276,742
Misonix Opco Inc5,199,487
SIFCO Industries Inc5,024,732
Frequency Electronics Inc4,964,810
ENGlobal Corp4,915,800
MannKind Corp4,900,000
CPI Aerostructures Inc4,795,000
Natural Gas Services Group Inc4,600,000
Optinose Inc4,400,000
US Auto Parts Network Inc4,107,388
Crawford United Corp3,679,383
Vaso Corp3,610,900
PolarityTE Inc3,576,145
Adamis Pharmaceuticals Corp3,191,700
Ballantyne Strong Inc3,173,900
Biolase Inc2,980,000
CRH Medical Corp2,945,620
Identiv Inc2,900,000
Phunware Inc2,850,336
Joint Corp/The2,730,000
Oblong Inc2,416,600
BK Technologies Corp2,196,335
HyreCar Inc2,004,175
Enservco Corp1,939,900
RiceBran Technologies1,800,000
Blonder Tongue Laboratories Inc1,768,762
Marrone Bio Innovations Inc1,723,000
BSQUARE Corp1,600,000
Educational Development Corp1,447,400
Workhorse Group Inc1,411,000
Rocky Mountain Chocolate Factory1,400,000
Pro-Dex Inc1,360,100
Infinite Group Inc957,373
ImmuCell Corp937,700
ClearPoint Neuro Inc896,000
Rave Restaurant Group Inc656,830
Pulmatrix Inc616,795
Helius Medical Technologies Inc323,000
Lodging Fund Reit III Inc286,100

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