Magic Johnson offering $100 million in loans to minority-owned businesses left out of PPP loans

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Magic Johnson offering $100 million in loans to minority-owned businesses left out of PPP loans
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The Los Angeles Lakers great partnered with MBE Capital Partners to offer loans to minority- and women-owned companies.

"They did the right thing," he said. "[Lakers owner] Jeanie Buss is a very good owner, and she's smart, so I'm glad that she returned the money because there is a lot of companies out here who really need that money and she was smart enough to understand that."

Asked about a pro sports leagues returning to action, Johnson echoed what many throughout the industry have said, predicting a restart with "empty stadiums." But he also supported leagues resuming. "We need it," Johnson said. "We thrive on our sports. That's how we escape our everyday life; is to indulge ourselves in sports. So, we need sports to come back, especially if we're going to continue to stay home."

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