A revised Covid Restrictions Support Scheme (CRSS) is on course to be announced either tomorrow or Thursday.
RTÉ News understands that payments will be made under the revised scheme from next week onwards.
The payments can proceed without legislation being passed if there is a political commitment in place to enact any changes in law later.
The scheme will be targeted at businesses that have been hit by the restrictions now in place to curb the transmission of Covid-19.
This includes the hospitality and the live entertainment sectors.
It is understood that the new scheme could see payments based on 12% of a company's average 2019 turnover.
The details around the exact eligibility for the scheme are still being finalised.
A final decision must also be taken on whether or not companies involved on the supply-chain to the hospitality scheme will be included in the scheme.
Ministers met at Dublin Castle this morning as the Cabinet reviewed the impact that Covid-19 is having on hospitals and the economy.
Minister for Tourism, Culture, Arts, Gaeltacht, Sport and Media Catherine Martin said the Government was determined to keep the doors open of hospitality, late-night and live entertainment venues, even though a 50% capacity limit on indoor events makes many of them financially unviable.
Sinn Féin's Enterprise, Trade and Employment spokesperson Louise O'Reilly said "it is really regrettable" that Cabinet did sign-off today on the new measures.
She said the Government "could have had this ready. They should have had this ready".
Ms O'Reilly said: "Business owners are worried about being able to make it into next year. What they don't need is dithering.
"What they don't need is delay. But unfortunately we're hearing that package won't be ready to go to Cabinet.
"It's last minute dot com, isn't it? Businesses deserve better."
Meanwhile, the Gaiety Theatre announced it has canceled 50% of tickets for every performance of The Little Mermaid due to new Covid-19 restrictions that only allow for 50% capacity at indoor live events.
The show is due to be staged from today until 9 January 2022.
The theatre said it has announced a very limited number of additional shows in January 2022 to accommodate disappointed customers who would still like to attend a showing of the Panto.
Additional reporting Paul Cunningham
