President Obama and SBA Administrator Maria Contreras-Sweet joined together over the weekend to launch the SupplierPay project. This project is the proposed solution to providing access to affordable and consistent working capital for entrepreneurs. SupplierPay also pledges to shorten payments or provide other creative financing solutions. For small business suppliers this will improve on-time payments, keep interest rates low, and increase supplier confidence to hire more workers and expand their operations through investments in new equipment, products, and people. So far 26 major corporations have signed up. The SBA is continuing to recruit more corporations in this effort to drive job and economic growth.President Obama is also renewing the QuickPay Initiative which was launched in 2011 for federal small business subcontractors.
Click the link below to learn more about these initiatives: