Resource: Magic Johnson to Assist Minority-Owned Businesses

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May 22, 2020
From California Department of Transportation, Office of Civil Rights:
Former NBA player and Hall of Fame member Magic Johnson announced this week that EquiTrust Life Insurance Co. - of which he owns a majority - is providing $100 million in capital to fund federal loans for minority and women business owners who have been hit hard by the coronavirus pandemic.
EquiTrust will work with MBE Capital Partners to distribute the loans through the federal government's Paycheck Protection Program (PPP).
The goal is to help 100,000 businesses secure resources that will sustain them through the pandemic.
"These are incredible businesses, small businesses, that have been the pillar of our community that also employ a lot of black and brown people in our community," Johnson said Sunday. "... We wanted to make sure that minority-owned businesses got small business loans through the PPP program."
For information on Caltrans Civil Rights program visit here.
For information on statewide outreach webinars that guide small businesses through contracting with Caltrans, visit here.

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