The Treasury Department said airlines requesting less than $100 million in payroll-assistance grants won’t be required to provide collateral in exchange for the aid
WASHINGTON—The government won’t take a stake in small airlines seeking federal aid as part of a $2.2 trillion economic-stimulus package passed amid the coronavirus pandemic, the Treasury Department said Friday.
The department said airlines requesting less than $100 million in payroll-assistance grants won’t be required to provide collateral in exchange for the aid “as a result of benefits to the public,” including requirements that the companies maintain needed air service and refrain from involuntary furloughs or layoffs.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
How to Apply for the CFDA’s A Common Thread GrantSee which businesses are eligible for the CFDA grant and how much aid they can receive.
Read more »
10 Amazing Specialty Spices You Can Order Online Right NowAdd flavor to your cooking while supporting small businesses.
Read more »
These Small Businesses Are Committed to Giving Back—Here’s How to HelpRead about why helping small businesses is so important right now, how you can help support them and five small businesses that are committed to helping with the COVID-19 response.
Read more »
Treasury briefing U.S. airlines on $32 billion grant program: sourcesU.S. Treasury Secretary Steven Mnuchin is holding calls with airline CEOs throughout the day and could announce details of a $32 billion payroll grant package later this afternoon, people briefed on the matter told Reuters.
Read more »
Treasury Department says larger airlines need to compensate taxpayers for coronavirus aid as talks drag onTalks for the aid have blown past a Monday deadline to disburse up to $32 billion in grants to airlines and contractors to weather coronavirus.
Read more »
Forgivable Loans For Small Businesses Offer Small Toehold For RetailThe Paycheck Protection Program is just the start for retailers buffeted by extended closures during the pandemic.
Read more »