Magic Johnson offering $100 million in loans for minority-owned businesses hit by the pandemic


TYLER, Texas (KETK) – An NBA Hall-of-Famer is giving back to those that desperately need it during the pandemic.

Magic Johnson announced that his life insurance company Equitrust will provide $100 million in federal loans.

The company said that it is aiming them toward minority business owners, who they say have had difficulty accessing the CARES Act.

“This will allow them to keep their employees and keep their doors open,” Johnson reportedly told CNBC Tuesday.

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