Apple joins SupplierPay program to pay small suppliers faster

Updated

The Obama Administration said that Apple, along with about two dozen other companies, has agreed to join the administration’s voluntary SupplierPay program, according to The Wall Street Journal. President Barack Obama is preparing to announce the program, in which “companies commit to paying small suppliers faster or help them get access to lower-cost capital.” The goal of SupplierPay is to have larger companies pay small-business contractors within 15 days of delivering a product or service. The smaller companies will have a stronger cash flow, and should be less dependent on borrowing money.

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Phil Dzikiy

Phil Dzikiy was the Editor-in-Cheif at iLounge. He mostly edited and oversaw all site editorial content, managed staff and freelancers, made the final call on product review grades and awards, and led online coverage of all Apple events and live coverage of the International CES in 2015.