The Cedar Valley Fashion Art and Culture Expo Information

In response to the unique needs for entrepreneurs to recalibrate during the COVID-19-induced recession, Education Outreach Inc (a 501(c)3 nonprofit), is launching the Cedar Valley Minority Business & Entrepreneurship Accelerator (CVMBEA) pilot program to proactively serve the African-American business community needs and better understand where considered action could do the most good. To date, the Small Business Administration (SBA) confirmed a Payroll Protection Program (PPP) financial health injection of just under $23 million into the Waterloo economy. In total, 653 Waterloo businesses and nonprofits successfully secured forgivable loans to keep economic sustenance flowing through our local enterprises and households. Out of this group, a single business in Waterloo identified as an African-American owned enterprise receiving PPP. This corporation accounts for 0.1 percent of the US Treasury’s investment into Waterloo, but represents 15.5 percent of the African-American population in Waterloo. Similar patterns emerge with Waterloo’s other rich diversity of minoritized communities. Only three PPP recipient owners identified as Hispanic, and only five recipients owners identified as Asian in Waterloo. This obviously is not representative of the Waterloo population. The 24/7 Black Leadership Advancement Consortium launched the Cedar Valley Minority Business & Entrepreneurship Accelerator (MBEA) as of August 10, 2020. Participants receive financial support, growth strategies and business resiliency to pivot and advance in times of crisis.