SupplierPay initiative expands

Monday 24 November 2014 11:06 CET | News

The White House and the Small Business Administration has announced an expansion of President Obama’s SupplierPay initiative, a partnership with the private sector to strengthen small businesses by increasing their working capital.

Twenty-one companies are joining the 26 companies that adopted the SupplierPay pledge at a launch announcement with President Obama in July 2014. As part of the SupplierPay initiative, companies pledge to pay their small suppliers faster or enable a financing solution that helps them access working capital at a lower cost.

The White House will also hold a SupplierPay working session hosted by National Economic Council Director Jeff Zients and SBA Administrator Maria Contreras-Sweet. The working session will bring together both existing and new SupplierPay companies to discuss actions companies are taking to implement the SupplierPay pledge, and ensure the metrics are in place to track and measure impact of this initiative going forward.

The following new companies have signed on to SupplierPay: Akima, Chenega Corporation, Chugach Alaska, Cook Inlet Region,ConAgra Foods, Dominion Resources, Dun & Bradstreet Credibility, Intel, Hallmark Cards, , Kaiser Permanente, McGraw Hill Financial, Nova, Oracle, Sacramento Municipal Utility District, Sealaska, Siemens, Sempra Energy, Southern California Edison, 3M, Xerox,

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Keywords: SupplierPay, SupplierPay initiative, working capital, Barack Obama
Categories: Banking & Fintech
Countries: World
This article is part of category

Banking & Fintech