NNPA Teams with Magic Johnson to Fund Over $100 Million in PPP Loans for Minority and Women-Owned Businesses
July 30, 2020
Johnson’s EquiTrust is providing critical financial support to underserved communities and businesses that have been traditionally neglected. These small and diverse businesses often have difficulty developing strong lending relationships with big banks. According to the Center for Responsible Lending, up to 90% of businesses owned by people of color have been, or will likely be, shut out of the PPP program.