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PRESS ROOM: NNPA Teams with Magic Johnson to Fund Over $100 Million in PPP Loans for Minority and Women-Owned Businesses

NNPA NEWSWIRE — Johnson’s EquiTrust is providing critical financial support to underserved communities and businesses that have been traditionally neglected. These small and diverse businesses often have difficulty developing strong lending relationships with big banks. According to the Center for Responsible Lending, up to 90% of businesses owned by people of color have been, or will likely be, shut out of the PPP program.

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Dr. Benjamin F. Chavis, Jr., President and CEO of the National Newspaper Publishers Association (NNPA) and Earvin “Magic” Johnson, majority owner of EquiTrust, the nation’s largest minority-owned insurance company.
Dr. Benjamin F. Chavis, Jr., President and CEO of the National Newspaper Publishers Association (NNPA) and Earvin “Magic” Johnson, majority owner of EquiTrust, the nation’s largest minority-owned insurance company.

July 25, 2020 (Washington, DC) — Dr. Benjamin F. Chavis, Jr., President and CEO of the National Newspaper Publishers Association (NNPA) announced today that he and the NNPA have agreed to assist the efforts of Earvin “Magic” Johnson, majority owner of EquiTrust, the nation’s largest minority-owned insurance company, and MBE Capital Partners (MBECP), the largest certified minority-owned asset-based lender, in funding over $100 million in PPP loans.

EquiTrust, MBECP and the NNPA together today are focused on informing and encouraging minority- and women-owned businesses throughout the United States to take advantage of the current PPP loan opportunities for businesses in underserved communities.

Dr. Chavis emphasized, “I have the highest regard and respect for the entrepreneurial leadership and courage of Earvin Magic Johnson. The NNPA, therefore, is enthusiastic and pleased to assist Johnson’s EquiTrust and with MBE Capital to enhance the economic recovery of African American and other minority owned businesses amidst the devastating COVID-19 pandemic in America. Our businesses are the lifeblood of our communities.”

Johnson’s EquiTrust is providing critical financial support to underserved communities and businesses that have been traditionally neglected. These small and diverse businesses often have difficulty developing strong lending relationships with big banks. According to the Center for Responsible Lending, up to 90% of businesses owned by people of color have been, or will likely be, shut out of the PPP program. 

MBE Capital is perfectly positioned to help small and diverse businesses take advantage of this latest round of PPP funding; and the company is an approved SBA lender with over 20 years of experience serving diverse and minority businesses. They can process up to 5,000 loans per day, utilizing end-to-end online technology to accept, underwrite and transmit the applications to the SBA. MBE Capital has already processed over $300,000,000 in PPP loans — including the EquiTrust partnership funding $100,000,000.

The NNPA is the nation’s largest trade association of African American-owned newspapers and media businesses that reach 22.4 million readers per week across the nation.

MBECP has also partnered with The Enterprise Center (TEC), a Community Development Financial Institution (CDFI), providing them with technology and resources to help them process over $100,000,000 in PPP loans. This will allow TEC’s CDFI to process more SBA loans in two weeks then they have in the last 10 years.

By working with Earvin “Magic” Johnson’s EquiTrust, MBECP’s pipeline is over $500,000,000. MBE Capital is committed to providing vital funding for small businesses in underserved communities. With almost $100 billion left in the second round of PPP funding, it is imperative that vulnerable small businesses are able to secure resources needed to sustain themselves.

According to Rafael Martinez, CEO of MBE Capital: “I contacted EquiTrust, to be an additional strategic partner because I know that EquiTrust believes in changing outcomes for underserved communities the way I do. The team at EquiTrust and my direct contact Kenyatta Matheny were incredible, and we put this deal together from first call to contracts in a week.” He added: “After receiving hundreds of emails and calls from applicants asking if they can receive their PPP loans as soon as possible because this was a last hope to stay open – and in some cases to keep food on the tables of their employees – I was moved to expand this and look to fund over 20,000 PPP loans for minority companies.”

“This is a unique SBA-backed opportunity to use the vast resources of EquiTrust’s to prudently provide real and much needed cash to deserving minority and women-owned businesses that find it difficult to secure such funding through traditional means,” said Eric Holoman, President and Chief Executive Officer of EquiTrust. “The jobs saved will make a significant difference to their families and communities. Equitrust is excited to partner with Rafael Martinez and MBECP to do this and more as we try to level the playing field for businesses that are the backbone of America.”

APPLY FOR A PPP LOAN TODAY OR LEARN MORE: https://mbeppp.com/go/nnpa/

Loan Referral Code: NNPA

ABOUT MBE Capital Partners

MBE Capital is a Latino-owned company providing Supply Chain Finance solutions for Fortune 500 companies and their suppliers. With over 31 years of knowledge, experience and credibility serving the minority business community. We provide several financial solutions receivables, purchase order and supply chain financing that allow small & diverse businesses to grow by managing cash flow effectively. In 2019, MBE Capital financed over $1.7B in Fortune 500, city, state and federal debt. On average, our clients have experienced 27% year over year growth.

ABOUT EQUITRUST

In June of 2015, Earvin “Magic” Johnson became majority owner of EquiTrust Life Insurance, the largest minority-owned life insurance company in the history of the country at $22 billion in assets. EquiTrust Life Insurance Company is a trusted provider of life insurance and annuity products with a strong track record of operating performance. We are a national carrier of competitive, client-friendly options, available through various distribution channels including more than 23,800 independent sales representatives and independent marketing organizations. EquiTrust offers fixed-rate and indexed annuities and life insurance and is headquartered in Chicago with operations in West Des Moines.

ABOUT NNPA

The National Newspaper Publishers Association (NNPA) headquartered in Washington, DC was founded in1940 and today is the nation’s largest and oldest trade association of African American owned newspaper businesses and media companies. The weekly readership of the NNPA is over 22.4 million readers per week. The NNPA also has the largest African American owned digital network in the United States. The NNPA’s www.BlackPressUSA.com is a leading global portal for vital news information relevant to people of African descent and others throughout the world. Dr. Benjamin F. Chavis, Jr. is NNPA President and CEO and Karen Carter Richards is NNPA Chair.

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PRESS ROOM: The Allen Lewis Agency Named Ally Supplier Diversity: Supplier of the Year for 2024

NNPA NEWSWIRE — “This recognition from Ally is deeply appreciated,” said Chandra Lewis, co-founder and COO of TALA. “Receiving Ally’s Supplier Diversity: Supplier of the Year award is a testament to the strength of our team, our strategic approach and our ability to use relationships to deliver meaningful business results for our clients.”
The post PRESS ROOM: The Allen Lewis Agency Named Ally Supplier Diversity: Supplier of the Year for 2024 first appeared on BlackPressUSA.

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DETROIT– Ally Financial has recognized The Allen Lewis Agency, a full-service marketing and communications agency, as its Supplier Diversity: Supplier of the Year for 2024. The award was given at the Ally 4th annual Supplier Diversity & Sustainability Symposium, on Feb. 29 in Charlotte, N.C.

In 2023, TALA led media outreach and marketing efforts for the fifth anniversary of Moguls in the Making, Ally’s HBCU entrepreneurial pitch competition. It also introduced the brand to new opportunities such as the American Black Film Festival (ABFF), where Ally led a panel on financial education for filmmakers, and leveraged professional connections and years of experience in multicultural marketing to amplify Ally’s partnership with UnitedMasters.

“We are honored to work with Ally and its incredible team members,” said Jocelyn (Allen) Coley, co-founder and CEO of TALA. “The work Ally is doing to bring financial education to a more diverse, multicultural audience through outreach to the creator community aligns with our own passions and priorities. We’re proud to be part of programs such as Moguls in the Making, the American Black Film Festival, and Art Basel, raising awareness within a diverse, often underrepresented audience.”

Ally, the nation’s largest all-digital bank, started its supplier diversity program in 2020 to highlight its commitment to supporting the advancement of an inclusive and sustainable marketplace. The brand strives yearly to increase its spending with diverse suppliers – creating economic value, mobility, and a sustainable future for all.

“When Ally launched its Supplier Diversity program four years ago, our goal was to build an ecosystem of partners and suppliers who truly represented our communities,” said TJ Lewis, Ally senior director of Supplier Diversity and Sustainability. “From the beginning, TALA’s success in forging connections between Ally and minority-focused media has greatly expanded the visibility of our brand to the audiences we most want to reach. Their work is worthy of recognition.”

“This recognition from Ally is deeply appreciated,” said Chandra Lewis, co-founder and COO of TALA. “Receiving Ally’s Supplier Diversity: Supplier of the Year award is a testament to the strength of our team, our strategic approach and our ability to use relationships to deliver meaningful business results for our clients.”

About The Allen Lewis Agency:

The Allen Lewis Agency (TALA) is a full-service marketing and communications agency committed to helping clients build their brands and expand their business through a range of services including strategic brand development, media relations, diversity, equity and inclusion, advertising, events and reputation management. Founders Jocelyn (Allen) Coley and Chandra S. Lewis bring more than 40 combined years of corporate experience with a breadth and depth of services that are unmatched. Now in its eighth year in business, TALA is a certified Minority Business Enterprise, Women Business Enterprise, Women-Owned Small Business and a certified Association of National Advertisers diverse supplier that has employed a national team of experts who have decades of experience servicing major brands with positive measurable results. Learn more about The Allen Lewis Agency at https://www.theallenlewisagency.com.

The post PRESS ROOM: The Allen Lewis Agency Named Ally Supplier Diversity: Supplier of the Year for 2024 first appeared on BlackPressUSA.

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OP-ED: A Silent Killer No More

NNPA NEWSWIRE — Data from Mount Sinai Medical Center in New York City shows that more than 13 percent of African American men between the ages 45 and 79 will develop prostate cancer in their lifetimes. And Black men have a 70 percent higher rate of developing prostate cancer than White men. The American Cancer Society also shockingly predicts that Black men are more than twice as likely to die from prostate cancer than their White counterparts.
The post OP-ED: A Silent Killer No More first appeared on BlackPressUSA.

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By Hamil R. Harris, NNPA Contributing Writer

Political provocateurs are determined to stir up controversy over Defense Secretary Lloyd Austin’s failure to tell President Biden about his treatment for prostate cancer. Yet, his desire to keep the matter private—and out of the public eye—is in line with what many men, particularly men of color, have done for decades. The reticence to share details of a medical condition is understandable, but prostate cancer is a silent killer in the Black community and the time has come to give it a voice.

In the words of Dr. Martin Luther King Jr., whose son Dexter recently passed from prostate cancer, I ask: How long? How long will Men of color suffer in silence and die alone? How long will too many brothers hide their plight?

When he finally commented publicly about his condition, Austin offered regrets about keeping silent and then made an important pledge. He said that by not initially disclosing his diagnosis, he “missed an opportunity to send a message on an important public health issue,” while noting the prevalence of prostate cancer, particularly among Black men. Encouraging all men to get screened, Austin promised, “You can count on me to set a better example on this issue today and for the rest of my life.”

Any cancer diagnosis is a private matter. But men like Dexter King and Austin can help so many others who are prone to prostate cancer. Keeping the surgery and treatment a secret would only have continued to add to the stigma surrounding prostate cancer. That would have been a disservice to the thousands of men of color diagnosed annually.

Indeed, data from Mount Sinai Medical Center in New York City shows that more than 13 percent of African American men between the ages 45 and 79 will develop prostate cancer in their lifetimes. And Black men have a 70 percent higher rate of developing prostate cancer than White men. The American Cancer Society also shockingly predicts that Black men are more than twice as likely to die from prostate cancer than their White counterparts.

These figures are appalling when considering that prostate cancer is one of the most treatable forms of the disease with the five-year survival rate for men diagnosed with it being greater than 99 percent if the cancer is detected during the early stage.

While there are numerous reasons for why this disparity between Black and white men exists – decades of structural racism, environmental issues, certain comorbidities, different molecular pathways in the body of Black men – a great deal of the reason comes down to the fact that Black men are disproportionately not being screened for prostate cancer as early or as regularly as White men.

A recent study published in JAMA Oncology by a team at the University of Michigan Rogel Cancer Center found that Black men get fewer PSA (prostate specific antigen) screenings; they are more likely to be diagnosed with later stage cancer; they are less likely to have health insurance; and they have less access to high-quality care and other disparities that can be linked to a lower overall socioeconomic status.

Given his platform as Secretary of Defense, I am happy that Austin recognized his duty to be open and honest about his battle with this disease. And in doing so, he now joins groups and individuals who are already working on spreading awareness for prostate screenings who can act as guideposts.

For example, Mount Sinai Medical Center recently unveiled the Robert F. Smith Mobile Prostate Cancer Screening Unit, which will visit New York City neighborhoods where men could be at a higher risk of developing prostate cancer.  The mobile home sized bus is named after the African American philanthropist and venture capitalist who donated almost $4 million to launch the program. Smith, who has led many philanthropic endeavors aimed at supporting the African-American community, obviously realizes that it takes a preemptive approach to combat the scourge of prostate cancer by going directly into the communities most affected by the disease. In announcing the prostate screening initiative, Smith tied it to larger inequities in our society that leave African Americans behind. “It’s unconscionable that in our great country and at this moment of technological breakthrough, Black Americans are still subject to staggeringly worse health outcomes,” he said. “We can fix this.”

Thankfully there are individuals like Smith and now Austin to use their platforms to spread awareness for this deadly – yet very treatable – form of cancer and ensure that more people don’t die needlessly.

Hamil R. Harris is an award-winning journalist and contributing writer for the NNPA

The post OP-ED: A Silent Killer No More first appeared on BlackPressUSA.

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Chevrolet and National Newspaper Association Offer Summer Internship: Discover the Unexpected Fellowship

NNPA NEWSWIRE — The importance of diverse storytelling has never been more evident, and Chevrolet, in partnership with the NNPA, is committed to empowering the next generation of storytellers. By offering this once-in-a-lifetime opportunity, the DTU Fellowship seeks to make a lasting impact on both the individuals selected and the media landscape. The application window for the DTU Fellowship closes on April 1, 2024.
The post Chevrolet and National Newspaper Association Offer Summer Internship: Discover the Unexpected Fellowship first appeared on BlackPressUSA.

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By Stacy M. Brown, NNPA Newswire Senior National Correspondent
@StacyBrownMedia

In a bid to amplify Black voices and highlight diverse stories, Chevrolet, in collaboration with the National Newspaper Publishers Association (NNPA), invites budding journalists, content creators, and communications enthusiasts to embark on the summer internship of a lifetime through the Discover the Unexpected (DTU) Fellowship.

The DTU Fellowship is geared towards students of historically Black Colleges and Universities (HBCUs) who are passionate about storytelling and eager to contribute to the media landscape. This opportunity offers a platform for aspiring journalists and provides financial support in the form of a $10,000 scholarship and an $8,000 stipend.

One of the key aspects of the DTU Fellowship is the chance to collaborate with some of the largest and most influential Black-owned newspapers in the community. The collaboration aims to bridge the gap between emerging talents and established media outlets, fostering an environment of mentorship and shared knowledge.

The selected DTU fellows will embark on a transformative journey beyond conventional internships. This experience promises exploration, learning, and, most importantly, amplifying their voices. The fellowship recognizes the unique perspectives of HBCU students and aims to provide a platform for these voices to be heard.

What sets the DTU Fellowship apart is the hands-on guidance and mentorship provided by industry professionals who understand the power of diverse perspectives. Fellows can elevate content and gain career-building knowledge through interactions with seasoned journalists and media experts.

The importance of diverse storytelling has never been more evident, and Chevrolet, in partnership with the NNPA, is committed to empowering the next generation of storytellers. By offering this once-in-a-lifetime opportunity, the DTU Fellowship seeks to make a lasting impact on both the individuals selected and the media landscape.

As the application deadline approaches, interested individuals are encouraged to take advantage of this extraordinary opportunity. The application window for the DTU Fellowship closes on April 1, 2024. The tight deadline emphasizes the urgency and exclusivity of the opportunity, urging potential applicants to act promptly.

The Discover the Unexpected Fellowship by Chevrolet and the National Newspaper Association represents a unique chance for HBCU students to receive financial support for their education and gain invaluable hands-on experience in collaboration with influential Black-owned newspapers. By taking part in this transformative journey, aspiring journalists have the opportunity to leave a lasting impact on the media industry. Don’t miss out on the chance to elevate your content and amplify your voice – apply before the April 1, 2024 deadline!

The post Chevrolet and National Newspaper Association Offer Summer Internship: Discover the Unexpected Fellowship first appeared on BlackPressUSA.

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