Eligible businesses across the county will be able to claim payments of between £2,667 and £18,000 under the policy.
Those in non-essential retail can get up to £6,000, and hospitality, accommodation, leisure, personal care and gym sectors are eligible for up to £18,000.
The money is to help businesses reopen safely as restrictions are lifted.
Matt Potts, business growth and inward investment manager at Shropshire Council, said: “We are determined to help the Shropshire economy bounce back and we are delighted to be getting this whole new wave of funding out to businesses across the county.
“We are making the process as simple and as easy as possible by ensuring that businesses who have successfully applied before do not need to do so again.
“But they will receive an email asking for details to be confirmed so keep an eye out for it, as the money can’t start hitting accounts until this is complete.
“We are proud of the fact that we have managed to get more than £130 million out of the door to support Shropshire businesses so far and this new funding will take that total to a whole new level."
Businesses which have successfully applied and received funding from the most recent round of the Local Restrictions Support Grant (LRSG) will receive a verification email from Shropshire Council asking them to confirm some additional information before the money is processed.
Those businesses will not need to apply again.
Those who have not yet successfully applied for LRSG but are eligible for the new fund can find out further information by visiting the dedicated restart grants webpage at shropshire.gov.uk/covid19restartgrant