While the partial government shutdown is largely bad news for U.S. companies, payday lenders look set for a boost.

“We’re now getting to the point where federal employees are going to need some kind of short-term loan in some cases,” said federal budget expert Stan Collender.

In cases where these employees can’t turn to family or friends, companies that provide payday loans “are going to benefit a little bit, because there’s going to be a request for funds,” said Collender, known for his Budget Guy blog.

About 800,000 federal employees are furloughed or working without wages thanks to the shutdown, now in its 21th day. They are missing out on paychecks for the first time on Friday, which otherwise generally would have been payday.

Related:More banks are trying to get a piece of the payday loan pie

And see:Four in 10 can’t cover an emergency expense of $400, Fed survey finds

Beyond conventional payday lenders, some credit unions that serve government employees are offering loans to affected workers during the shutdown, and they’re not necessarily charging the high interest that’s usually associated with cash advances. The Navy Federal Credit Union, for example, is offering to lend up to $6,000 to eligible members, saying there will be no fees or interest charges, while the Congressional Federal Credit Union will extend a line of credit with a 0% interest rate for 60 days.

Such offers during the shutdown make sense, given that many studies have shown Americans often have low levels of savings. Big banks including Wells Fargo WFC, +0.08% and Bank of America BAC, -0.55% are not making similar loans to affected government workers, a New York Times report noted, though some are waiving overdraft and monthly service fees. Pro baseball is getting involved, as the Washington Nationals said affected season ticket holders could postpone monthly payments for tickets.

The payday lending industry’s trade group, the Community Financial Services Association of America, didn’t respond to requests for comment. Lenders World Acceptance Corp. WRLD, +0.31% and Enova International Inc. ENVA, -0.54% also didn’t respond to requests for comment.

It’s possible that tax-preparation companies could see more demand for refund-advance loans, Collender said. The shutdown has threatened to delay the actual refunds, though the Trump administration said Monday that they would go out as usual.

Read more:3 ways to protect your finances if you’re a federal employee not getting paid

For the most part, the shutdown is a drag on big and small companies, according to Collender. He said: “You see mostly losers here.” Coffee shops, taxi businesses and other companies that serve government employees could be cutting their staffing, and small firms that provide things like office supplies are losing business and not likely to recoup it, the budget expert said.

“There is incredible uncertainty relating to the TSA, and as that relates to air travel and tourism,” said Isaac Boltansky, director of policy research for Compass Point Research and Trading, referring to reports of longer lines at Transportation Security Administration checkpoints as agents who aren’t getting paid call out sick. (In the wake of such reports, the TSA said 90% of U.S. passengers waited less than 15 minutes on Sunday, while a big pilots union has called for an end to the shutdown because it’s hurting safety and efficiency.)

Some airlines have voiced concerns about delays in the certification of new aircraft and slowdowns in the training of pilots and air traffic controllers, said Clayton Allen, a Height Capital Markets analyst.

“One of the things that is maybe not appreciable now, but will have an impact as time goes on, is the impact on air traffic control,” he told MarketWatch. “We have a shortage of air traffic controllers, so slowing down the training process today means that a year from now, six month from now, you’re not going to have as many air traffic controllers as you thought you would.”

The aviation industry is hurt in particular because two key government entities that it must deal with are affected by the shutdown — the Homeland Security Department and the Federal Aviation Administration, Allen added.

The Securities and Exchange Commission is also hit by the government closure, the Height analyst noted.

“That’s not really a positive for financial markets SPX, -1.11% , because not having a regulator in your office doesn’t mean you can run hog wild. It just means you can’t get sign-off on things,” Allen said. “I kind of struggle to find people who are winning in this scenario, from a corporate perspective.”

The shutdown is disrupting the initial-public-offering process and may cause delays in some of the bigger IPOs expected in 2019. The U.S. Chamber of Commerce, which lobbies for big business in Washington, has called for an end to the closure, saying it’s “hearing every day from businesses across the country” about how “the adverse consequences of the shutdown are wide and growing.”

The ongoing shutdown has been sparked by a dispute over money for President Donald Trump’s proposed wall at the Mexican border. The president on Wednesday left a negotiating session after clashing with top Democratic lawmakers, and Trump stated Thursday that he could declare a national emergency in order to build his wall if there’s no deal with Democrats, saying “probably I will do it. I would almost say definitely.” Analysts have noted the impact of the current shutdown is somewhat limited, because it’s only affecting agencies that represent about 25% of total government spending.

This report was first published on Jan. 8, 2019.