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:
http://www.whitehouse.gov/blog/2014/07/11/supplierpay-and-quickpay-strengthening-americas-small-businesses
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