The second phase of the Economic Resilience Fund (ERF) will open in Wales next month - with non-VAT firms able to apply.
The £400m ERF was launched by the Welsh Government in March and has received more than 9,500 applications, with over 6,000 offers already made to date - worth over a £100m.
But there was a backlash from start-ups and non-VAT businesses who were excluded on eligibility criteria and a campaign launched to extend support.
Now Economy minister Ken Skates says the second phase of the scheme will reopen in mid-June.
Non-VAT firms will now be able to apply while Mr Skates said he was working with local authorities about getting support to start-ups.
Mr Skates said: "On 27 April, we paused the Economic Resilience Fund to give us an opportunity to consider where further support could make the biggest impact.
"Not only to help those businesses we haven’t already reached, but also to consider what support all businesses will need through the ongoing rescue phase as well as into restart and recovery phase, as lockdown measures are eased in line with last Friday’s framework.
"That work is advancing well and we are finalising the details on the next phase of the Economic Resilience Fund.
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"I expect to re-open the Economic Resilience Fund eligibility checker for new applications by the middle of June, allowing companies time to prepare their applications. Following that, I expect to open for full applications later in the month.
"This will enable access to the remaining £100m of the £300m already approved and allocated to support micro businesses, small and medium enterprises and large businesses.
"In terms of eligibility, Phase 2 of the Fund will operate in the same way as Phase 1 but with an update to the micro scheme.
"This will enable limited companies who are not VAT registered to access the Fund, something which so many small businesses have been calling for.
"In addition, we are also working with our partners in local government to develop further support proposals i for those not yet reached, for example Start Up businesses."
Daily Post and Western Mail columnist Dylan Jones-Evans, who campaigned on the issue, said: "I’m glad the Welsh Government has listened to the campaign to support startups and micro-businesses in Wales.
"It’s excellent news that many of firms that have previously been excluded from support will now get the help they need.
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"These businesses have created the majority of jobs in the Welsh economy over the last decade and will be needed more than ever in coping with the downturn caused by Covid19."
Ben Francis, FSB Wales Policy Chair, said: "The initial phase of the scheme was welcomed by the business community.
"However, we know that many businesses still missed out on vital support and FSB Wales has been raising the issue of those which had fallen through the gaps.
"These included non-VAT registered businesses, the more recently self-employed and start-up businesses. We are grateful to the Minister for having listened to our calls and that these businesses will now fall under the remit of the new wave of the fund.
“We were also pleased to hear the Minister recognise the plight of tourism businesses and the problems faced
“We are concerned that the opening of the new phase of the fund won’t take place until well into June but we are reassured by the Minister’s intention to bring that deadline forward if possible.
"Given this, it will be critical that the second wave of the fund can operate efficiently, and that businesses find it clear and seamless. If there is to be a wait for businesses to access the fund, then they need to be able to rely on a simple application and a swift payment."