To further support its small business community, the City of Valparaiso has launched a $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 truly value our small businesses and recognize that they are the backbone of our community. We pursued these grant funds to do all we can to support Valparaiso’s small businesses,” said Valparaiso Mayor Matt Murphy. “These grants are a direct incentive to help small businesses remain in operation and keep their workers on the payroll,” he said. 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.
To apply for funding
Applications for the VIB grant will be accepted June 16, 2021 through June 30, 2021 at 4:00 pm CST. 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 email@example.com 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.