Small Business Improvement Fund

The Small Business Improvement Fund (SBIF) is helping small business to remain viable in the City of Chicago by providing financial assistance for their building renovation and infrastructure costs. Program participants can receive reimbursement grants of up to $150,000.

SBIF Grant Structure

The City of Chicago’s SBIF Grant uses local Tax Increment Financing (TIF) revenues to reimburse eligible applicants for repairing or remodeling their facilities within specific TIF districts. The following features apply to this grant program:

Maximum Grant Assistance

  • Industrial Property – $150,000 per property
  • Commercial Property – $100,000 per single-tenant property
  • Multi-tenant Property – $250,000 per property with $50,000 per owner/tenant

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, applicants may receive one or more grants up to their maximum program assistance. Once this maximum is reached, the applicants will need to wait three years to reapply.

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 theĀ eligible business requirements, then you will be eligible to receive this grant.

Grant Average

The typical average grant amount is $40,000.

Contact Us

Chicago Main Office
601 South LaSalle, Suite 510, Chicago, IL 60605 map
P: (312) 360 3300   F: (312) 360 3333   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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