Chicago City Council Approves $60 Million in SBIF Grant Funding for Small Businesses

On December 16, 2020, the Chicago City Council passed the largest Small Business Improvement Fund (SBIF) allocation in the program’s 21-year history! SomerCor is proud to partner with the Department of Planning and Development to administer SBIF. This impactful initiative promotes economic development by providing small businesses with reimbursable grants for permanent building improvement costs. Since 1999, the program has deployed more than $100MM dollars to over 1400 businesses. Learn more about the program by visiting www.somercor.com/sbif.