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Iowa Black Wall Street Investment Group forms to assist small businesses


Corridor Business Journal: A community venture capital group that invests in Black-owned businesses is being formed in eastern Iowa, called the Iowa Black Wall Street Investment Group. Chad Simmons, chairman of the Iowa Soul Food Co. in Coralville and the lead architect of the investment group, hopes this will provide assistance to local businesses that need help raising capital after a tumultuous few years. IBWS will be one of the first community development venture capital groups created in Iowa with this vision, according to a press release. It will work with economic development organizations and local financial institutions in Johnson County as well as NewBoCo and its Kiva Iowa Initiative, which allows community members to provide no-interest loans to small businesses.

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