Magic Johnson To Provide $100 Million In Loans To Minority-owned Businesses!!
Church this is the definition of greatness and kindness. And of course somebody is going to criticize what he is doing, but at least he is creating an opportunity for those who had been shut out of the Federal PPP. Hall of Famer Magic Johnson is bringing the magic to some of the hardest-hit communities with some much-needed help. His company Equitrust and MBE Capital are donating $100 million in PPP loans to minority-owned businesses. Mr. Johnson made that announcement Tuesday that the company for which he owns a majority will be doing the good deed. EquiTrust Life Insurance Co., of which Johnson has held a majority stake since 2015, is taking aim at helping the business owners hit hard economically by the coronavirus pandemic.