Magic Johnson offering $100 million in loans to minority-owned businesses left out of PPP loans CRPC B2B Marketplace Business Talking Library

The CEO of Magic Johnson Enterprises collaborated with MBE Capital Partners to offer $100 million in loans to minority- and women-owned companies hurt by stay-at-home orders due to Covid-19. The loans were funded through Johnson’s EquiTrust Life Insurance Company and will be provided through the Small Business Administration’s Paycheck Protection Program.

But even with new money available, African-American and Latino-owned businesses have been left out of the new PPP funds due to a lack of relationships with bigger banks. Democratic lawmakers including Sen. Kamala Harris of California have even called on the SBA and Treasury Department to ensure minority-owned businesses are not shut out of aid.

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Concierge Resource Professional Consultants, LLC dba CRPC Consulting is the nation's only B2B Strategic Engagement Expert for Entrepreneurs where we help with strategic solutions in operational development best practices, mastering the art of pitching business concepts, and match-making vendor resources to help create/repair process for sustainable revenue streams.

Our value is assisting people and businesses who are ready to advance in their personal and professional life to become empowered in their communication, presentation by putting processes and systems in place for execution for sustainable revenue streams.

Therese W. Gamble, E.MBA, M.Ed, MIE

Founder + CEO of Concierge Resource Professional Consultants, LLC dba CRPC Consulting

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