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 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
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, 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.
No, the grant does not have to be repaid.
Am I eligible?
The typical average grant amount is $40,000.