Obama asking companies to pay suppliers faster - WAOW - Newsline 9, Wausau News, Weather, Sports

Obama asking companies to pay suppliers faster

Posted:

WASHINGTON (AP) -- The White House says companies like Apple, Honda and Coca-Cola have agreed to pay their suppliers more quickly in a bid to boost small business.

President Barack Obama will launch an initiative Friday called SupplierPay. Twenty-six companies have agreed to participate.

The companies are committing to pay small businesses they contract with for parts and services faster, or to help them access capital at lower costs. The program mirrors the existing QuickPay initiative that requires the government to pay small contractors quickly, ideally within 15 days.

Obama will discuss the program Friday during a meeting with businesses, suppliers and the head of the Small Business Administration. It's part of the president's attempt to use his power to bring people together to spur growth despite congressional opposition to his agenda.

 

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and WAOW. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service and Mobile Privacy Policy & Terms of Service.

Persons with disabilities who need assistance with issues relating to the content of this station's public inspection file should contact Chief Engineer Russ Crass at 715-842-2251. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, at 888-835-5322 (TTY) or at fccinfo@fcc.gov.