NBA legend Earvin “Magic” Johnson has given $100M in loans to support minority-owned businesses trying to stay afloat in these COVID times. If you need access to working capital, including ACH business loans and want to know more details concerning the mentioned funding, continue reading this blog post.
ACH Business Loans & $100M to Minority-Owned Businesses
In May, EquiTrust Life Insurance Co., an insurance company, started offering $100 million to minority- and women-owned businesses hurt by the coronavirus crisis. The major part of the company belongs to Magic Johnson.
The NBA legend is working with MBE Capital Partners to assist businesses hurt by the crisis. They aim to support 100.000 businesses with enough funds that can help them navigate these challenging times.
They decided to provide these funds for minority-owned businesses through the Paycheck Protection Program (PPP) program. What if you can’t qualify for a federally backed loan and need … Read the rest