SBIF Lottery & Waitlist Information

SBIF Lottery

When more funding requests are received in a SBIF district application period than funds available, the City of Chicago holds a lottery, facilitated by SomerCor, to determine the order that applications will be processed. This lottery is conducted over video call so applicants can watch the process.

  • All eligible applications received for a district’s open period are included in the lottery and randomly assigned a number.
  • The SBIF team will start processing these applications in this random order until all available grant funds have been allocated.
  • Once all the available funding has been assigned, the remaining applications in the lottery are placed on a waiting list according to the order in which they were drawn.
  • If additional funding becomes available, the remaining applications will be processed in order from the waiting list.
  • This waiting list is active for a period of twenty-four (24) months* from the date of the lottery. Only once every application has been processed or the waiting list expires, will new applications be accepted for that SBIF district.

After each lottery, results will be emailed directly to the SBIF applicants by the end of the following business day. A SomerCor representative will contact you within 2-3 weeks of the lottery to notify you if we are able to start processing your application or if your application has been put on the waitlist.

Please be advised that any work commenced prior to approval will not be eligible for grant funding.

Please be advised that participation in the lottery does not mean that you have been awarded grant funding. The lottery only determines the order in which applications will be reviewed for eligibility for a SBIF grant. All applications will be reviewed and vetted after the lottery drawing for eligibility. Applications that are not eligible will be removed and funds reserved for that project will be made available for the next application in order of the lottery drawing.

Lottery Process

  • Eligible applicants for property located in a SBIF Target Corridor are first in priority for funding and the lottery.
  • The remaining eligible applicants shall be provided funding and placed on the waitlist after eligible applicants in the SBIF Target Corridors.
  • In SBIF districts with no SBIF Target Corridors, all applications received during the application period are included in the lottery and randomly assigned a number determined through the lottery.
  • The SBIF team will begin review of these applications in the lottery order until all available grant funds have been reserved.
  • Once all the available funding has been reserved, the remaining applications in the lottery are placed on a waiting list according to the order in which they were drawn.
  • This waiting list is active for a period of twenty-four (24) months* from the date of the lottery. Only once every application has been processed or the waiting list expires, will new applications be accepted for that SBIF district.
  • Using the initial application, SomerCor determines preliminary eligibility and applicant type. The assigned SBIF Project Coordinator then emails the applicant requesting Stage 1 required documents.

*When a TIF district expires, the waitlist will be dissolved.

After the Lottery

If there is funding available for an application, SomerCor will email the applicant requesting additional documentation to confirm their eligibility for SBIF as well as their reimbursement rate. Applicants have 20 days to respond to that request. Required documentation varies by type of applicant, but can include:

  • Proof of site control – deed for property owners, 3-year lease for tenants
  • Economic Disclosure Statement and Affidavit completed by applicant entity
  • Tax returns, income and expense projections, or personal financial statements, depending on type of applicant
  • Tenants’ leases, if applicant is a landlord
  • Valid and current business license for businesses operating in property
  • List of board members for not-for-profit applicants

If the application is eligible, it will move on to project review. If it is ineligible, the application will be removed, and the funds will be made available for the next application in order of the lottery drawing.

<< Return to SBIF Page