Money is reaching small businesses that were left in the lurch much sooner than would be achievable through the administration process, Premier Peter Malinauskas said in Whyalla on Monday.
"This means businesses which otherwise would have closed are open, workers who would have been retrenched are being paid and have confidence about the future," he said.
The funds support initiatives under a $100 million investment, which also includes $32.6 million of infrastructure upgrades and $6 million for a Jobs Matching and Skills Hub.
That funding is part of the state and federal government's $2.4 billion package to save the Whyalla Steelworks, support local jobs and encourage more investment in iron and steel.
These measures complement the OneSteel administration process underway with KordaMentha, which will hold the first creditors meeting in Whyalla on Monday afternoon.
Prime Minister Anthony Albanese and Mr Malinauskas announced the industry support package on February 20, a day after the SA government rushed legislation through parliament that allowed it to place the steelworks into administration because of the mounting debts of its owners.
The creditors meeting is expected to be given an estimate of the total debt owed by OneSteel, a subsidiary of UK billionaire Sanjeev Gupta's GFG Alliance.
Debts that have already been publicly revealed total more than $600 million.
"We've been working really hard … to get funds moving quickly," Mr Malinauskas said.
"We want an expedited process to reflect the need that exists here in the wider community, because we're all in on this."
Applications for the Business Creditor Assistance Scheme opened last week and $4.1 million has so far been requested through submissions from businesses that are owed money by OneSteel.
The Whyalla Small Local Business Support Grant is also open, with $30,000 in funding delivered to businesses that have experienced a reduction in revenue because of the decline in activity at the Whyalla steelworks.
Businesses will also benefit from the establishment of a Whyalla Special Economic Zone, to drive local industry involvement in government projects.
Under the plan, any state government procurement valued at $220,000 or more within the region, or projects that can deliver direct economic benefits, will require a Whyalla Tailored Industry Participation Plan.
The scheme will give local businesses a competitive advantage of 30 per cent in the tender evaluation process, ensuring government-funded projects contribute directly to economic sustainment and growth in the region.
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