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BlackFacts Details

Magic Johnson Offers $100 Million to Minority Businesses

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He’s won championships on the court, he’s started and grown businesses to hundreds of millions of dollars off the court and now he’s continuing to give back to our community in a big way.

Today, on Good Morning America, Johnson, who is also the owner of EquiTrust, the nation’s largest minority-owned insurance company, will partner with MBE Capital Partners, a Latino-owned company, to provide supply chain finance solutions for women and minority-owned businesses and their suppliers.

“They couldn’t get loans so we have to make sure they stay in business and keep their employees.

We don’t want any minority business closing because of this virus and because they couldn’t get a loan.”

According to Forbes, Johnson was motivated after hearing reports of minority- and women-owned businesses being shut out of the Paycheck Protection Program (PPP).

Source: BlackDoctor | Health News On Fitness, Nutrition & Weight Loss - BlackDoctor
This Black Fact was brought to you by Museum of African American History in Massachusetts
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