Citing concerns that minority-owned businesses are being overlooked, Earvin “Magic” Johnson said his EquiTrust Life Insurance Co. will provide $100 million in capital to fund loans through the Small Business Administration’s Paycheck Protection Program.
EquiTrust, which is majority owned by Magic Johnson Enterprises, will partner with MBE Capital Partners, a Fort Lee, N.J., based nonbank lender that specializes in financing minority- and women-owned companies, to offer Paycheck Protection Program loans.
PaysonJ A lot of small businesses will fail. He is either risking default loans or he is giving away free money or he is charging high interest. The world has changed. He should be careful who he issues loans to unless he is basically giving away money.
Hopefully the loans won't have so many hoops to jump through as the Federal loans.
And those $100M are coming from exactly where? So who is really bearing the risk?
Go Magic. Imagine if a White person said he is donating 100m to White only business. Uproar !
Shitlife
Way to step up!
Magic owns a life insurance company Damn he owns a lot of shit. Good for you Earvin.
Good for Magic Johnson. He’s a good man with a big heart.
wsj, how soon is the material on discrediting Magic going to be ready to go? You know that the lower classes are primed to be exploited brutally, and your readers & elites are counting on it -- and counting on you not to let the few MAGICs prevent this.....
Legend!
Because the white people ( and I not colored) are getting all the money they want from Trump ( and lots more) Where have you been living,under a rock Problem with you is you care more about you than Americans Bet your under 35
MagicJohnson not helping poor white people? That seems cosmically wrong.
Loans to people who are not white?
Why not? He gets to charge a huge doc fee, and the gov't guarantees repayment. The guaranteed annualized return is the best scam/ deal in town.
Seems kinda unfair doesn't it. Why only minority owned businesses? Very biased. Why segment by colour of skin?
Magic Johnson has always been a class person Too bad we didn’t have a person like him in the white house That cared about people instead of himself
There a lot of white poor people out there too. Why doesn’t anyone call this racist? If I wanted to only fund white people, you can guarantee there would be people calling me names
Magic!
Wonderful....ask the Trump organization to match that!!
Fresh
Nice
4o4esports
EquitrustF 📊📈🏦
Interest free?
So mostly non blacks?
SRuhle What a great guy.
Magic, black businesses, not “minority” businesses, because they’re not helping our community.
4everNeverTrump Stepping Up.
advertisingdiva He has a life insurance, too? Truly a role model for other professional athletes. There is, indeed, a life after basketball.....if you prepare yourself.
McClain_on_NFL 32 🐐
How racist is that !!! why only minority tho ? Imagine if Mark Cuban said he will only do it for white people that be a Dissaster
Does this guy really have AIDS
What the hell?. The fact that the majority of black people didn't know Magic Johnson owned a life-insurance company and on top of that has access to 100 million dollars to loan speaks volumes. Black businesses can't barely get loans and this fool has millions to loan.
Minority = everything but black. We are the only group of ppl that go out of our way to help mobilize other “minority” groups over our own. We have to realize that these other minorities have their own anti black hatred too. We need to immediate stop using the word minority.
If it's not directed specifically for Black Americans then call it what it is. The Asian Fund or the Latino Fund or whatever. Stop lumping Black Americans into this bullsh*t 'minority' category
Minority owned = *white women *white LGBTQ community *white Hispanics *white middle easterners *Asians *white people with handicaps Nothing to speak of for black people.
MagicJohnson so this means Black citizens are ineligible? We all know the 1st ppl in line for minority business loans are white women, lgbt white men & women, Asians & Latinos. Black business owners will just get assistance filing the paperwork. Say Black if you mean Black
What the hell is a minority? Oh yeah this basically means everyone but black!
So basically non black ppl will be the ones to benefit most from this. The 'minority' con game at work yet again.🤦🏾♀️
AWJR AWJR another way he’s consistently shown himself as the man!!!
But you won’t tell us what happened to kobebryant mrspacely nba MagicJohnson shaq Lakers LakersReporter
Yes. Please assist small businesses. My friends need their jobs back
Thank you we are truly grateful. As you well know it takes a lot of hard work to win at anything in life . When your dream is at risk you have to get back up and fight. THANK you for supporting local small business.
Magic's magic 👏
Bawla!!!!!!
Hi Magic, Im a lonely old man with two grandkids under my care. I'm so much in dare need of food and gorceries, your assistance will go a long way in easing my current livelihood as these debts are fast accumulating. My Cashapp($hbsmith16). God bless you very much
clarencehilljr Class act, Magic.
HNinCharge
While a nice gesture, would it be cool if someone gave only white owned businesses money, excluding all others. Unbelievable. Paging Mr Buffett, Mr Gates, Mr Bezos.
If your not minority to bad! Because reverse discrimination is ok
Aside from this, dude is the nicest human on this planet. Never too cool for people. Always willing to talk to regular people. Never turns down pics, even during Rona. I've witnessed it first hand.
Am I the only one who didn’t know that MagicJohnson owned an insurance company? I hope young professional athletes are paying attention and learning to invest and diversify while they’re earning the big $.
So during a pandemic where all colors of people need help, this guy (racist) chooses to only help a certain % of people based on the color of their skin, and nobody else...how ironic, I thought only White people were racists according to twitter? Smdh
MagicJohnson
Nice MagicJohnson
So, how & where do I go about applying for this loan?
jadande Your next MJ and Tiger
jadande Shout out to MagicJohnson. Respect ✊🏾🙏🏾✊🏾👍🏾
ZBankEnt why the first word I spotted was 'aid'
The virus doesn’t care what color you are. Magic shouldn’t either.
KingJames this is a true and respectful hero your the spit on his shoes
jadande For the people complaining that this is racist. Have any of you looked at the wealth distribution gap in this country? Minority’s in particular need this help.
Bless his soul
anthonyelkoury LeJoe_
Where's Jeff Bezos?
For the ones that get offended, ask Trump where your money at
tonetalks 👀
Thank you, Magic!
wandaransom Awesome!
Such a blessing this pandemic didn't effect white owned businesses... Racism still exists as long as you choose to exclude those because of skin color.
Thanks for not helping out whites.
Has he not heard of 2008? Racism doesn’t pay.
I feel left out.
Magic Johnson is an action oriented guy. His stature is bigger than the game of Basketball. He should be a Senator or Governor of a State. MagicJohnson
WHOA ....this is NOT a good sign -- wealthy minorities steppin in to help their brethern -- NOT what the white establishment wants to see....just when the peasantry was gonna crater!! ripe for exploitation...how ya gonna discredit MAGIC
Good ! AmericaStrong
Good job MagicJohnson!!! Good works!! You were my favorite player as a kid!! Sadly I stopped following basketball when they ripped the Sonics out of Washington.... Still loved the no look passes!!
I support this, just like I'd support a company who explicitly helps only whites. The difference is this is allowed and a pro-white fund is not.
thank you magic,,you are majestic as a person & caregiver/.
The next Elon Musk will surely come from their ranks.
Racist AF
Hows that not racist?
Venezuela no tiene agua, la tiranía se inventa unas cisterna, ultra costosas, no resuelve, empeora, y sigue el guiso. Los ciudadanos aletargados. Pendientes de sobrevivir al día a día sin asumir que en sus manos está la libertad. Y no olviden seguir a Gori. Tendencia: Queso
Why only minority communities?
Thank You..Magic Johnson for all that you do.goat
Just minority communities or any community that needs help?
He seems to live longer than expected
Funny how small business is the backbone of the economy but corporations get the bailouts and pay no taxes
Thank you, Magic Johnson
Why not grants instead of loans? You're already a billionaire dude. ObamaGate
It’s nice to see people helping out their communities. Wish some CEOs would open their wallets to help out
Wow! What a wonderful human being!!
Бойтесь БОГА, Повинуйтесь Мне Пророку. Я Верю и Служу одному БОГУ. Верю во все Книги от БОГА. Почитаю Пророков, не делая разницы между Нами. Мне Велено быть Пророком, и справедливым. Мои Деяния и ваши, будут у БОГА. Все предстанем пред БОГОМ рабами. ОН Осудит справедливо.
Je ne comprends pas les américains riches vous faites des dons mais vous refusez qu'on vous prélève l'impôt sur les revenus les plus aisés pour aider à financer une sécurité sociale pour tous. À quoi cela sert de venir au secours des agonisants.
Perhaps Earvin doesn't think white communities were hit hard by the Coronavirus. This is racism in it's purest form.
Just tell us how you cured that virus homie
That's is so respectable ❤️
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