Magic Johnson launches program to help minority-owned small businesses during crisis

NBA legend and business titan Earvin “Magic” Johnson is deploying $100 million in capital to minority-owned small business owners in dire need. The PPP loans are being offered through a partnership between EquiTrust Life Insurance Company, which Magic is a majority owner of, and MBE Capital Partners, a non-bank lender. Magic Johnson, chairman and CEO of Magic Johnson Enterprises, and MBE Capital Partners CEO Rafael Martinez join “Squawk Box” to discuss.

 

 

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