Prime Minister Anthony Albanese announces $50,000 disaster payments for flood-hit businesses in NSW

Business owners who've been caught in the devastation of the latest wave of floods in New South Wales can put their hand up for a $50,000 grant to help rebuild.

Prime Minister Anthony Albanese and NSW Premier Dominic Perrottet announced the new wave of disaster support payments in Eugowra in the state's Central West this morning.

Successful applicants will receive an upfront payment of $25,000, while a further $25,000 per business is also available on the presentation of receipts.

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Perrottet said successful grant applications will see business owners get their initial $25,000 "within days".

"As soon as the applications go in, they're processed immediately by Service NSW," he said.

The grants are available for eligible small businesses as well as not-for-profit organisations.

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"We're going to rebuild in a more resilient way to ensure Eugowra has a strong future, and that's our commitment to the people today," Perrottet said.

"In addition to that, on the small business grants we know this will make a real difference. We've seen them following other natural disasters, giving people the confidence to open."

There are one-off payments for individuals and households of $1000 per person as well as $400 for children, while primary producers can access up to $75,000 in support funds.

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Both Perrottet and Albanese also acknowledged the struggle people were facing in trying to get insurance cover.

Albanese said the federal government would continue working with the insurance industry to try to make sure cover was more widely available.

And Perrottet called on the companies to put "people before profits".

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