Statement from SBA Administrator Mills on new Federal ‘QuickPay’ program

WASHINGTON – SBA Administrator Mills statement on the President’s “QuickPay” announcement today to cut in half – from 30 days to 15 days – the amount of time it takes federal agencies to pay small businesses for the products and services they deliver to the federal government: 

“The thousands of small businesses that provide great products and services to the federal government have a big reason to cheer the President’s ‘QuickPay’ announcement today.  When small contractors get their money in 15 days instead of 30, it results in a permanent infusion of cash flow into their businesses.  They can put that money towards working capital, expanding their businesses, marketing their products, and creating jobs.  Their financial footing gets stronger – permanently.  With nearly $100 billion each year in federal contracts going to small businesses, cutting in half the time they get paid is a powerful way to help put America back to work now.  QuickPay is a smart and powerful boost that effectively delivers billions more dollars into the hands of small contractors so that they can do what they do best – create jobs.”

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