Valparaiso launched the $300,000 grant program to provide qualifying small businesses with working capital, continuing operations and remote work. The Valpo Invests in Business (VIB) grant was designed to help 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. Valparaiso was the only Northwest Indiana community to invest in this program and receive funding.
“We’re listening to our small businesses and created this grant to further assist in their success,” said Valparaiso Mayor Matt Murphy. “We also heard from businesses that just needed a bit more time to apply and we wanted to make sure we allowed as many as possible to take advantage of this opportunity.” The maximum grant per business is $10,000. Funds may be used for payroll costs, inventory, rent or mortgage, property taxes or insurance, utilities, equipment lease or to support remote work.
Valpo to Host Info Session
To further assist businesses in applying for the VIB grant and to answer any questions, the City of Valparaiso is hosting a brief information session at 9:30 am on Thursday, July 8, 2021, at the Indiana Beverage Activity Center, 70 Lafayette St. To register, email Economic Development Director Brandon Dickinson at BDickinson@valpo.us.
Applications for the VIB grant will be accepted through July 16, 2021. The grant application is available on the Economic Development page at Valpo.us or businesses may search “VIB grant” at Valpo.us.
To qualify, businesses must be:
- A for-profit business with employees (who receive W-2’s) or a microenterprise with less than 5 employees (who receive 1099’s) in which 1 or more employee is also an owner.
- Be physically located within the corporate limits of the City of Valparaiso, Indiana. Questions regarding whether or not your business is located within the corporate limits of the City of Valparaiso may be directed to Brandon Dickinson: Valparaiso Redevelopment Commission Executive Director at firstname.lastname@example.org or (219) 462-1161.
- Be registered to do business in the State of Indiana.
- Be willing to certify qualified employees are within HUD LMI guidelines.
- Agree to all terms, conditions, responsibilities and reporting requirements set forth by OCRA and execute a Grant Agreement document.
A list of frequently asked questions detailing the process and eligibility is available on the Economic Development page at Valpo.us. The City of Valparaiso anticipates that these funds will be in high demand and has created a grant review committee to evaluate applications for eligibility. The committee will be required to submit its recommendations to OCRA for final funding approval.