Magic Johnson is coming through with the quickness! The SBA had a Paycheck Protection loan program that they were offering, along with a lot of other loan opportunities for businesses that were affected by COVID-19.
The crazy thing to me was that it seemed that businesses that didn’t need the money were the ones to get it. What was even crazier was that they gave the money back, and I still didn’t see a lot of other business owners saying they received money. The only other one was Karlie Redd’s boyfriend from Love and Hip Hop, and he fraudulently used that money.
Then I had to look at our minority owned businesses. Where was their help, because it seemed as though minorities were failed upon when it came to money received from the SBA. Well, Magic Johnson noticed it too and is helping. One of his companies that he owns, an insurance company, and a few other minority owned lending companies have secured a 100 million grant. As I get more information on how businesses can apply, I will post it. There are and will be businesses that will not recover from this pandemic and they need all the help they can get. These grants, I do know, will be eligible for businesses who applied for the paycheck protection loan and did not receive it. Hope this help someone or hundreds.