The White House and the Small Business Administration announced to expand SupplierPay. Suppier Pay is a public-private sector initiative to strengthen small businesses by increasing their working capital. Another 21 companies are joining the 26 companies that had already adopted the SupplierPay. Participants of the SupplierPay initiative, promise 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, Zappos.com.
