Magic Johnson will provide $100 Million to fund loans to Black Owned Businesses

Magic Johnson makes aother assist—to the Small Business Aid Program.

Magic Johnson's Company Helps Fund $100 Million To Small Businesses.

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,

The NBA Hall of Famer talks to "GMA" about the new program he's creating to provide loans to mostly minority and women-owned businesses struggling to get PPP assistance.ew program he's creating to provide loans to mostly minority and women-owned businesses struggling to get PPP assistance.