Coronavirus: Magic Johnson's company to provide $100M to fund loans for minority-owned businesses amid COVID-19 pandemic

Lakers legend Magic Johnson appeared on ABC's Good Morning America Tuesday morning to talk about providing some much-needed help for minority-owned businesses struggling during the coronavirus pandemic.

Johnson and his life insurance company are giving $100 million to the Paycheck Protection Program.

Magic said minority-owned businesses are being overlooked.

Johnson's company will be teaming up with a non-bank lender that specializes in financing minority- and women-owned companies.

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