White House Announces SupplierPay Initiative

July 11, 2014 Keith Chapman

What a day here at Taulia!

This morning, the White House announced its SupplierPay initiative, a step towards supporting small businesses and strengthening our economy by enlisting large companies to commit either to pay small suppliers faster or help them get access to lower-cost capital.

"For the larger companies, joining SupplierPay demonstrates a recognition that a healthy supply chain is good for business," said the White House in a statement. "For the small business suppliers, benefiting from SupplierPay means having more capital to invest in new opportunities, new equipment, and new hiring."

Since Taulia provides the best possible platform (in our humble opinion!) to automate and accelerate payments to suppliers, we announced the launch of our Early Payment Quick Start Initiative this morning, to help support President Obama’s call to action. Taulia has already processed more than $75 billion in early payment financing to small business suppliers and guarantees new customers a financing program that's up and running within 100 days.

“So many American small businesses are closing their doors simply because of poor cash flow,” said Taulia CEO Bertram Meyer. “We applaud the White House SupplierPay initiative, which is addressing this vital issue that is affecting American businesses.”

The White House initiative made national news, and we were honored and excited to be included in the coverage. Taulia was featured in a Bloomberg Businessweek article, a San Francisco Business Times piece, and many more.

The San Francisco Business Times’ Mark Calvey wrote that the White House initiative “could have been named CallTaulia, given how well the startup's service fits with the White House program. […] To take advantage of that spotlight, Taulia introduced Friday its Early Payment Quick Start Initiative designed to help suppliers of large companies get paid faster.”

Want to learn how SupplierPay will impact your businesses? Join us next Wednesday, 7/16 in a live presentation on how to get ahead of this initiative.

 

 

 

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