The city council run hotline will offer financial assistance but also emotional and practical support.
It has been set up to provide help to casualties of the tragedy, families of the deceased and others who have suffered, such as the bar staff, who may be out of a job as a result of the weekend incident.
A number of council run charities will provide cash to start up the fund and generous offers of cash help have already begun pouring in from businesses and individuals across the city.
The council will soon release details of how to contribute to the hardship fund. But in the meantime it urges anyone who needs immediate support to contact the new hotline on 0141 287 0999.
Earlier it was announced that a concert to raise funds for the victims and families will take place in Glasgow early next year.
The Night for the Clutha, an event inspired by offers of support on Twitter, is the plan of Taggart and River City actor Colin McCredie
His idea has already been backed by Nicola Sturgeon, tennis coach Judy Murray, as well as Still Game star Greg Hemphill, and actors and musicians Eddi Reader, Gavin Mitchell, Jane McCarry, Sanjeev Kohli and Forbes Masson.
DF Concerts, organisers of T in the Park, have agreed to stage the event with the city council.