How to get it: Companies need to continue flying routes required by the government and keep their employees on payrolls through Sept. 30. Outside firms are advising Mnuchin on the terms he should set, including what he will demand from airlines in return, such as warrants for equity in the companies. Mnuchin has said the money should be more than a bailout. He has solicited proposals from the airlines for terms on receiving the aid and has issued guidance.
Benefit: Airlines and cargo carriers can also apply for loans from a $29 billion pot.
Who is eligible: The same airlines and cargo companies eligible for the grants also have the option to apply for these loans.
How to get it: Companies also need to go through Treasury to get these loans.
National Security Companies
Benefit: Up to $17 billion in loans for companies deemed crucial for national security.
Who is eligible: Boeing, with its aircraft manufacturing and broad supply chain, will be one of the clearest beneficiaries, although the law doesn’t specifically mention the company.
How to get it: The companies also need to go through Treasury to get these loans.
Corporations and Local Governments
Benefit: The Federal Reserve has access to at least $454 billion it can use to leverage trillions of dollars in facilities intended to back up companies as well as state and local governments.
Who is eligible: This will be up to the Federal Reserve.
How to get it: The Federal Reserve facilities are still evolving. Mnuchin said lots of companies will be able to participate through broad facilities for both larger companies like energy firms and Main Street businesses.
Special limitations: The law includes restrictions on executive pay and stock buybacks for firms that access this aid. Congress set up a series of oversight mechanisms to review how all of that cash gets spent, including a special inspector general, an accountability committee of relevant government departments and an oversight panel.
Other Perks Available: Tax Cuts and Deferrals
Benefit: Turn business losses into cash refunds
Who is eligible: Any company that lost money in 2018, 2019 or 2020 but turned a profit in the past five years.
How to get it: If a firm can show losses from 2018 or 2019, it can go back five years to offset past profits and ask the IRS for a refund now. The IRS has not yet issued guidance about how to claim those refunds, but in the past the IRS has reimbursed companies within 45 days. If a business has losses this year, it can take the losses at the beginning of next year.