Financial Crisis Relief for Optometry

Doctors should review the various loan program options available to determine which may be the best approach given individual circumstances. The following is an overview of available relief programs and resources.

Emergency Department of Health and Human Services (HHS) grants

• On April 10, doctors of optometry and other physicians who billed Medicare in 2019 began receiving checks from the HHS to continue to support their practices during the COVID-19 public health emergency.
• This financial support is not required to be paid back.  
• A second round of funding is available to those who have already received HHS relief funds.
• Doctors who already received relief funding from the HHS may be eligible for these additional funds and will need to submit information through the General Distribution Portal. Visit the CARES Provider Relief Fund Payment Portal now to provide the necessary information.
• Doctors who have not yet received any HHS relief funding may still be eligible for support through other avenues, including upcoming Targeted Distributions. More information on Targeted Distributions is expected from the HHS in the coming weeks.
• Doctors who have not yet received HHS funding can also contact the HHS Provider Relief Line for information at 866.569.3522.

Paycheck Protection Program (PPP)

• Doctors of optometry (including independent contractors) can apply for the Small Business Administration's (SBA) PPP.
• The PPP allows individuals to receive forgivable loans, if certain requirements are met and if the loan is used to support payroll costs.  
• Find an eligible PPP lender for assistance.
• Review a sample PPP application.  
• The maximum amount of a PPP loan is $10 million.
• If you receive a PPP loan, AOA's CARES spending tracker may be useful in documenting spending.
• More information about the PPP loan is available on the AOA's March 31 and April 8 webinars.

Economic Injury Disaster Loans (EIDL)  

• The SBA's EIDL program provides small businesses with loans of up to $2 million to help address the temporary loss of revenue.
• The loans may be used to pay fixed debts, payroll, accounts payable or other bills.
• The SBA has received additional funding for EIDL and advances; however, they are not currently accepting new applications. Those that have applied will continue to have their applications processed.

When we have more information about the SBA's ability to receive additional applications, we will provide an immediate update.

Economic Injury Disaster Loans (EIDL) emergency advance

• Small business owners (and independent contractors) are eligible to apply for an EIDL advance of up to $10,000.
• You will receive $1,000 per employee in your business.  
• This loan advance will not have to be repaid.
• This advance is intended to provide economic relief to businesses that are currently experiencing a temporary loss of revenue.
• Even if you do not receive a full EIDL, you can receive the up to $10,000 advance.
• You can apply for the advance as part of the complete EIDL application.
• SBA has received additional funding for EIDL and advances; however, they are not currently accepting new applications. Those that have already applied will continue to have their applications processed.

When we have more information about the SBA's ability to receive additional applications, we will provide an immediate update.

Additional resources

• Relief for independent contractors
• Student loans during COVID-19 pandemic—Updated Aug. 21, 2020
• #AskAOA webinars on demand

For more information on crisis relief and AOA advocacy priorities, visit our COVID-19 latest updates page or contact the AOA.