8. Magic Johnson loans $100 million to Black businesses impacted by the pandemic.
Los Angeles Lakers legend Magic Johnson came to the rescue of many Black- and female-owned businesses negatively impacted by the coronavirus pandemic. Through his EquiTrust Life Insurance Co., in collaboration with MBE Capital Partners, Johnson offered $100 million in loans for those who were left out of the Small Business Administration’s Paycheck Protection Program, better known as the PPP loans.
