Albertsons Debuts Early Payments for Supplier Diversity
Grace Mahas — June 16, 2021 — Business
References: albertsonscompanies & grocerydive
Albertsons Companies recently announced it has expanded its vendor partnerships to include C2Fo, an online platform for working capital, in an effort to increase supplier diversity through early payments. the new partnerships will help diverse-owned brands alleviate immediate capital challenges by providing more funding for these businesses at significantly lower rates.
“Accelerated payment of receivables is essential for all businesses in need of greater liquidity, but especially for those that may be underrepresented and underfunded in our current financial system,” said Alexander “Sandy” Kemper, founder and CEO of C2FO. “We want to position these diverse suppliers for long-term success and can start by offering the working capital needed to grow and stay strong in this difficult economic climate. We are honored to join Albertsons Companies in their ongoing efforts to support the partners and communities it serves.”
Image Credit: Ethan Miller via Getty Images
“Accelerated payment of receivables is essential for all businesses in need of greater liquidity, but especially for those that may be underrepresented and underfunded in our current financial system,” said Alexander “Sandy” Kemper, founder and CEO of C2FO. “We want to position these diverse suppliers for long-term success and can start by offering the working capital needed to grow and stay strong in this difficult economic climate. We are honored to join Albertsons Companies in their ongoing efforts to support the partners and communities it serves.”
Image Credit: Ethan Miller via Getty Images
Trend Themes
1. Supplier Diversity - Increased focus on supplier diversity in business partnerships through access to working capital platforms.
2. Early Payments - Early payment options for suppliers as a way to promote supplier diversity and provide more funding at lower rates.
3. Working Capital Platforms - Expanded partnerships with online working capital platforms that offer diverse-owned brands the funding needed for long-term success.
Industry Implications
1. Retail - Retail industry leaders pledging to support and diversify their supply chains through early payment and working capital platforms.
2. Finance and Banking - Increased partnerships between online working capital platforms and financial institutions to offer diverse-owned brands more funding opportunities.
3. Technology - Emerging technologies in working capital platforms provide diverse-owned brands with more opportunities for liquidity and growth.
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