Magic Johnson's Company To Fund $100M In Loans For Minority Firms
Magic Johnson's insurance company is funding $100M in loans for "minority- and women-owned businesses" after Johnson heard those businesses were "struggling to receive the necessary assistance during the coronavirus pandemic." EquiTrust Life Insurance Co., which Johnson owns, will "distribute the loans through the Small Business Administration's federal Paycheck Protection Program in partnership with MBE Capital Partners." Johnson's funding reportedly will "go toward some 5,000 loans that have already been approved" (L.A. TIMES, 5/21).
NBA CARES: The Bucks and Fiserv Forum are donating $150,000 worth of food that will be made into meals for the Milwaukee community (Bucks)....Bucks G Pat Connaughton today is "hosting an 11-hour radiothon" from 7:00am-6:00pm CT on ESPN 94.5 Milwaukee and ESPN 100.5 Madison. The event will "include interviews, sales, a silent auction and more in an effort to raise funds for COVID-19 relief" (MILWAUKEE JOURNAL SENTINEL, 5/21)....Jazz G Mike Conley donated $200,000 to benefit various communities that helped shape him. His gift will be distributed among Utah Food Bank in Salt Lake City; CodeCrew in Memphis; Community Shelter Board and Columbus Urban League in Columbus, Ohio; Indianapolis Public Schools Foundation; and New Haven Missionary Baptist Church in West Helena, Ark. (Jazz)....NBA Kings F Harrison Barnes will "donate nearly $200,000 to his high school Alma mater," Ames High School in Ames, Iowa (Raleigh NEWS & OBSERVER, 5/22).
HELPING HAND: Penguins co-Owners Ron Burkle and Mario Lemieux have "donated $100,000 each to Highmark Health and UPMC for specific programs related to the ongoing coronavirus pandemic" (TRIBLIVE.com, 5/21)....Three Wild players "will donate $15,000 to charity" after placing in this week's NHLPA Fortnite tournament. RW J.T. Brown, C Victor Rask and G Mat Robson "placed fourth and will donate their winnings to Second Harvest Heartland" (ST. PAUL PIONEER PRESS, 5/21)....The Orioles "will host a blood drive at Camden Yards on Saturday, with donors receiving two ticket vouchers redeemable for a game at Oriole Park" in '20 or '21 (BALTIMORE SUN, 5/20)....Tigers 1B Miguel Cabrera and his wife, Rosangel, are "donating $250,000 in response to the coronavirus pandemic to help Detroit organizations that provide for children" (DETROIT FREE PRESS, 5/22).