More businesses will be eligible for financial support as another $807 million is put towards those most impacted by Melbourne's lockdown extension.
About 110,000 Victorian businesses across hospitality, retail, tourism, events, hairdressing and beauty services will benefit from the new money, which adds to financial support announced last week.
It will include automatic payments of $5600, or $2800 per week, delivered through a $625 million boost to the Business Costs Assistance Program.
Another $72 million will be put into the Small Business COVID Hardship Fund, with grants increasing by $4000, from $10,000 to $14,000, for small and medium-sized businesses across the state.
The licensed hospitality venue initiative will receive an additional $110 million, with payments of $5000 for a capacity of up to 99 patrons, $10,000 for 100 to 499 and $20,000 for a capacity over 500.
Federal Treasurer Josh Frydenberg and his Victorian counterpart Tim Pallas said the joint funding was targeted to help businesses most affected by the lockdown being extended until September 2.
