Valpo Invests in Business Grant

VIBTo further support its small business community, the City of Valparaiso has launched a $300,000 grant program designed to support working capital, continuing operations and remote work. The Valpo Invests in Business (VIB) grant was designed to help qualifying businesses to maintain operations and retain their workforce, with a priority for low to moderate income jobs. The City worked to create this program by securing a grant through the Indiana Office of Community and Rural Affairs (OCRA) with additional support from the Valparaiso Redevelopment Commission.

These grants are a direct incentive to help small businesses remain in operation and keep workers on the payroll. The maximum grant per business is $10,000.  The City anticipates that these funds will be in high demand and has created a grant review committee to evaluate applications for eligibility and need as it awaits the state funding and complete guidelines on qualifying. The committee will be required to submit its recommendations to OCRA for funding approval. 

Eligible uses of the grant funds include:

  • Payroll costs
  • Inventory
  • Rent or mortgage payments
  • Utilities (water, sewer, electric, phone, internet)
  • Property taxes and insurance
  • Equipment lease payments
  • Support remote work

The City is working with OCRA to finalize program guidelines, an application form and a timeline.  Additional information will be posted as it is available.  The City will host an informational webinar on the VIB grant in May.  Sign up to receive updates below.

For questions or more information about the VIB grant, contact Brandon Dickinson at bdickinson@valpo.us or 219-462-1161.