Small Business Improvement Fund
SBIF Grant Structure
The City of Chicago’s SBIF grant uses local Tax Increment Financing (TIF) revenues to reimburse eligible applicants for repairing or rehabilitating their facilities within specific TIF districts. The following features apply to this grant program:
Maximum Grant Program Assistance
- Industrial Property – $150,000 per property
- Commercial Property – $100,000 per single-tenant property
- Multi-tenant Property – $50,000 per owner/tenant with no more than $250,000 for overall property
Reimbursement grant, paid after work is completed by the applicant, and proof of payment to their city-licensed contractors is received by the City of Chicago.
Yes, an applicant may receive one or more grants for the project property up to the maximum grant program assistance for which the property is eligible. Once the project property has received the maximum grant program assistance for which it is eligible, then no application made for that property shall be eligible for SBIF consideration for three (3) years from the date the reimbursement that reaches the maximum grant program assistance is paid.
No, the grant does not have to be repaid.
Am I eligible?
The average grant amount is approximately $40,000.
What are some typical projects?
Check out a bunch of recent SBIF projects in the SBIF Showcase.