The White House SupplierPay initiative aims to gain support among large corporations who are committed to giving their suppliers quick and affordable access to capital.
The United States government views lengthy payment terms as a key barrier to small business growth and national productivity. Without quicker access to capital, suppliers cannot grow, hire, or make key purchases.
There is no single mandated solution required in order to become SupplierPay compliant. All that corporations have to do is state their intent and announce their commitment. SupplierPay is a public initiative that relies on private sector solutions to address the issue as they see fit. Supplier Success is a private sector company that offers several methods to become compliant with the initiative.
Learn more about the program and take the pledge below.