Apple Signs On to Obama’s SupplierPay Effort to Speed Payments to Small Suppliers

Apple Signs On to Obama’s SupplierPay Effort to Speed Payments to Small Suppliers

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Apple, Coca-Cola, and about two dozen other companies have signed on to an Obama administration program called SupplierPay. The program is an effort to speed payments to small suppliers or help them get access to lower-cost capital.

The program will "strengthen small businesses by increasing their working capital, so they can grow their businesses and hire more workers," the White House said in a statement. The partnership is the latest effort by Mr. Obama to use White House summits and executive actions to advance his goals while broader initiatives are stalled in Congress. Republicans have chafed at what they consider executive overreach and plan a lawsuit to rein in the White House.

SupplierPay builds on QuickPay, a program the federal government started in 2011. It's goal is to have small-business contractors paid within 15 days of delivering a product or service. This would improve cash flows for small companies and reduce their need to borrow.

SupplierPay is designed to be a private-sector counterpart to the federal programs. Other companies signed on to the effort include: AT&T Inc., Cardinal Health Inc., FedEx Corp., International Business Machines Corp., and Johnson & Johnson.

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Apple Signs On to Obama’s SupplierPay Effort to Speed Payments to Small Suppliers

itasara - July 13, 2014 at 5:46pm
I admit I know little or nothing about business but I know something about gut feelings and I woudn't do a damn thing with Obama anything. I'm disappointed Apple would buy into anything Obama..kudos to you if it works but I bet it doesn't and then it will hurt all those who buy into it. Like the ACA is not affordable. As for Gut feelings, I knew enough not to Vote for Obama the first time!
K - July 13, 2014 at 7:26pm
It's Obama does trying to make things better, that's why so many companies may not be hurt by him, but there always is a new guy every now and then for replacement. Wonder how Mr. Romney would have been for president.
itasara - July 14, 2014 at 6:22am
I voted for Romney because I new Obama would be a terrible president. I saw it when it took him 20 yr. to leave a church where the minister was anti-American and other anti-religions. I was a democrat at the time, I am now an independent. Obama is ruining our country. Look at all the scandals now. Look how the world is now.. our country is in trouble b/c of Obams and his own agenda and so many people just don't see it. Apple is my favorite company but this kind of alliance worries me and I'm not sure how supportive I am of Tim Cook.
Michelle - July 11, 2014 at 9:54pm
So about 26 companies did it? Is Obama trying to be friendly?
John Alexander - July 13, 2014 at 6:36am
That idiot is still using " Executive Actions" ? Who are the retards that still believe that he is Pro-Business ? Apple, Costco, Starbucks and the usual. Impeach the Muslim !!!
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