The Premier League and English Football League have agreed a £250million rescue plan to help clubs overcome the financial challenges of the pandemic.
Championship clubs will have access to a £200m pool of free loan funds, while a £50m grant will be made available for those in League One and Two.
Loans to second-tier clubs will be capped at £8.33m and would have to be repaid by June 2024.
“Our over-arching aim throughout this process has been to ensure that all EFL clubs survive the financial impact of the pandemic,” EFL chairman Rick Parry said.
“I am pleased that we have now reached a resolution on behalf of our clubs and as we have maintained throughout this will provide much-needed support and clarity following months of uncertainty.”
It is hoped that the deal agreed on Thursday will prevent the worst-case scenario of clubs going out of business.