The $94.6 million will be used to pay for the cost of caring for animals and keep the operations afloat until travel and other restrictions are eased.

Billabong Zoo owner Mark Stone had called for financial support earlier this year saying operational expenses where not being met by visitation revenue.

Previously the owners had said: "We're in a different situation to other businesses that can shut their doors and there's no running costs. It's business as usual inside the zoo and for the animals nothing has changed," Mr Stone said.

The zoo, which opened in Port Macquarie in 1986, exhibits over 80 species and cares for over 220 animals, including cheetahs, snow leopards, spider monkeys and freshwater crocodiles.

Billabong Zoo is owned by Mark and Danena Stone, who collectively have more than 40 years' experience in the industry, and who operate the zoo as a breeding centre for koalas & wallabys.

The zoo is one of Port Macquaries top tourist attractions,

"The most important thing is that all the animals are being looked after - looked after just as much as if the doors were open," Mr Stone said.

"You still have all the feeding, cleaning, lighting, heating and other costs that go with caring for the animals."

A single lion needs about $250 in red meat per week or $13 000 of red meat over an entire year.

It’s been an anxious wait but Billabong Zoo has finally received financial support from the federal government to help with the COVID-19 recovery.

Zoo owner Mark Stone says the funding couldn’t come soon enough.