Magic Johnson’s Life Insurance Company Reportedly Funding $100 Million In Small Business Loans

that his life insurance company will provide $100 million in funding for small women and minority owned businesses as part of the Small Business Administration’s embattled Paycheck Protection Program.The loans are being offered through a partnership of Johnson’s EquiTrust Life Insurance Co. and MBE Capital Partners, a New Jersey-based nonbank lender that specializes in financing businesses owned by women and minorities.

MBE’s chief executive, Rafael Martinez, had received complaints from clients who couldn’t get loans from the PPP’s first round of funding; reports later revealed that some lenders prioritized businesses with whom they had existing relationships.that Johnson’s $100 million commitment will first be used for the 5,000 PPP loans his company has approved so far.

“This is, when you think about it, life and death for so many business owners. They have nowhere else to turn,” Johnson told the

True point guard. Always there with the assist.

Fr he doesnt want to pay out 1 billion worth if claims if shit really hits the fan

Good for Magic, actually doing something rather than just talking. Too bad more wealthy athletes don’t do the same. SpartansWill

Even though MJ is the goat, no doubt; however, if this man didn't get sick there's no way MJ would've acquired 6 titles. (The very minor turns that enables history to take a different course). (keep your eyes open and watch those turns)

NoToCorona FightAgainstCorona SafeDriveLongLife please

Magic sheer genius

Salute

Huge, positive gesture from Magic. But as a Life insurer, this is playing with fire.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Magic Johnson Makes Another Assist—to the Small Business Aid ProgramEarvin “Magic” Johnson said his EquiTrust Life Insurance Co. will provide $100 million in capital to fund loans for minority-owned businesses through the Small Business Administration’s Paycheck Protection Program. That's is so respectable ❤️ Just tell us how you cured that virus homie Perhaps Earvin doesn't think white communities were hit hard by the Coronavirus. This is racism in it's purest form.
Source: WSJ - 🏆 98. / 63 Read more »

Magic Johnson Makes Another Assist—to the Small Business Aid ProgramEarvin “Magic” Johnson said his EquiTrust Life Insurance Co. will provide $100 million in capital to fund loans for minority-owned businesses through the Small Business Administration’s Paycheck Protection Program. That's is so respectable ❤️ Just tell us how you cured that virus homie Perhaps Earvin doesn't think white communities were hit hard by the Coronavirus. This is racism in it's purest form.
Source: WSJ - 🏆 98. / 63 Read more »