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Obama renews initiative helping small fed contractors get paid quickly

President Obama announced Friday that he will renew the QuickPay initative, requiring federal agencies to expedite payments to small business contractors. He also will launch SupplierPay, bringing together 26 large and small companies. SupplierPay builds on the success of QuickPay, and requires committed companies to pay small suppliers faster. It also asks them to support those suppliers' access to low-cost capital.

Tags: QuickPay , White House , small business , President Obama , contracting

Friday - 07/11/2014, 11:38am EDT