Apple joins SupplierPay program to pay small suppliers faster

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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