- Economic Development
- Valpo Invests in Business Grant
Valpo Invests in Business Grant
Program Announcement: June 14, 2021
To further support its small business community, the City of Valparaiso has launched a 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. Funds may be used for payroll costs, inventory, rent or mortgage, property taxes or insurance, utilities, equipment lease or to support remote work. 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.
Applications for the VIB grant are due no later than 4:00 pm on July 16, 2021. A Frequently Asked Questions document is available to assist interested businesses. This will be updated throughout the grant period as questions come in.
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.
For questions or more information about the VIB grant, contact Brandon Dickinson at email@example.com or 219-462-1161.