Small Business Improvement Fund

The Small Business Improvement Fund (SBIF) is helping small businesses and commercial corridors stay viable in the City of Chicago by providing financial assistance for building improvement costs. Eligible program participants can receive reimbursement grants for qualified permanent building improvements to small business properties.

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

Grant Type

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.

Multiple Grants

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.

Grant Repaid?

No, the grant does not have to be repaid.

Am I eligible?

If you are located in an eligible SBIF district and meet the program’s other eligibility requirements, then you will be eligible to receive this grant.

Grant Average

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.

Contact Us

Chicago Main Office
601 South LaSalle, Suite 510, Chicago, IL 60605 map
P: (312) 360 3300   F: (312) 757 4370   Email

Springfield Office
3201 W White Oaks Dr, Springfield, IL 62704
P: (217) 793 1075   Email

SBIF Gram Newsletter

Latest SBIF announcements from our monthly newsletter
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