Magic Johnson Secures $100M For Minority-Owned Companies As Government Fails Black And Latino Small Business Owners

NBA legend Earvin “Magic” Johnson called on one of his companies to help announce more than $100 million in loans “specifically for minority and women-owned businesses in underserved communities,” according to a press release. EquiTrust, the nation’s largest minority-owned insurance company that Johnson is the majority owner of, teamed up with MBE Capital Partners — the largest certified minority-owned asset-based lender — and the National Action Network to award the funds to companies whose applications for the Small Business Administration’s (SBA) Paycheck Protection Program (PPP) were not accepted. READ IN FULL

 

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