COVID-19 Loan & Grant Programs - Economic Injury

Economic Injury Disaster Relief Programs

Update: On December 30, 2020 the Small Business Administration announced that as a result of the recently passed COVID-19 relief bill, the deadline to apply for Economic Injury Disaster Loans has been extended to Decemebr 31, 2021. Read more about the extension.

Small business owners and private non-profits harmed by COVID-19 in all U.S. states, Washington D.C., and territories may be eligible for an Economic Injury Disaster Loan (EIDL) of up to $2,000,000 through the Small Business Administration (SBA). Within three days of applying, they may also qualify for an emergency advance of up to $10,000. The advance does not need to be repaid under any circumstance, and may be used to keep employees on payroll, pay for sick leave, meet increased production costs due to supply chain disruptions, or pay business obligations, including debts, rent and mortgage payments.


  • Maximum amount of $2,000,000
  • Proceeds must be used for working capital needs such as fixed debt and payroll
  • Interest rate of 3.75% for businesses and 2.75% for nonprofits
  • Loan term of up to 30 years, depending on the needs of the borrower
  • Automatic one-year deferment on repayment so the first payment is not due for a full year


  • Applicant must be adversely impacted by the COVID-19 pandemic
  • Must be a small business with 500 or fewer employees. Businesses in certain heavily impacted industries may be eligible as well even if they have more than 500 employees. Private non-profit organization or 501(c)(19) veteran’s organizations that meet the employee number requirement are also eligible.
  • Sole proprietorships, independent contractors, self-employed persons, private non-profit organization or 501(c)(19) veterans organizations affected by COVID-19.This program is for any small business with less than 500 employees (including sole proprietorships, independent contractors and self-employed persons), private non-profit organization or 501(c)(19) veterans organizations affected by COVID-19.
  • Businesses in certain industries may have more than 500 employees if they meet the SBA’s size standards for those industries.
  • The EIDL advance funds will be made available within days of a successful application, and this loan advance will not have to be repaid (up to $10,000).


For additional information, please contact the SBA disaster assistance customer service center at 1-800-659-2955 (TTY: 1-800-877-8339) or

The SBA also provides local assistance via 68 district offices and a nationwide network of resource partners. Find resources near you

Loan Program Quick Guide

This at-a-glance resource will help you determine the type of financial relief that is right for your practice.

Legal and Financial Disclaimer: The information on this page is meant to serve as an educational summary of federal loan and grant programs related to COVID-19. It does not constitute or substitute legal or financial advice. Interested parties should continue to consult their legal and financial professionals.

Note about AAOS Help and Services: Unfortunately, the Academy is unable to help with individual applications or paperwork required for obtaining relief funds. For related questions or comments about the programs, please email the Office of Government Relations at