Johnson announced that EquiTrust Life Insurance Co., of which he owns a majority, is providing $100 million in capital to fund federal loans for minority and women business owners whose business has suffered greatly during the pandemic.
The loans are aimed at supporting people of color as well as women who operate businesses in underserved communities, according to a news release.
EquiTrust is set to work with MBE Capital Partners, a lender that has a specialization in asset-based loans for minority-owned small businesses, to distribute the loans through the federal government’s Paycheck Protection Program.
“Johnson’s EquiTrust is providing critical financial support to underserved communities and businesses that have been traditionally neglected,” EquiTrust and MBE Capital Partners said in a news release.
“… We wanted to make sure that minority-owned businesses got small business loans through the PPP Johnson To Provide $100 Million To Fund Loans To Minority-Owned Businesses
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