Yes, indeed, a sole proprietor or independent contractor in the gig economy can apply for a COVID-19 Economic Injury Disaster Loan (EIDL) when they experience a temporary loss of revenue. The maximum amount you can borrow under this program is $150,000, although loan limit increases are possible. These are 30-year loans that charge a 3.75% interest rate (this is a fixed interest rate without deductions) with no prepayment penalty or fees. The SBA provides a streamlined EIDL application that you can file online. You can receive help completing the form or check its status by calling the SBA at 1-800-659-2955 or by emailing DisasterCustomerService@sba.gov. You have until the end of 2021 to request additional money or reconsideration. The four steps involved in getting an EIDL from the SBA are: Apply online for the loan. Get a loan quote for the estimated qualified loan amount. The quote does not guarantee approval. A loan officer will review your application and contact you if they need additional information. The loan officer will approve or decline the application.