SBIF Showcase: American Soda Fountain, Inc. – Kinzie Industrial Corridor TIF
Walking into American Soda Fountain is a bit like using a time machine. This family-owned business started in 1917 and has been in its current location since 1960.
American Soda Fountain maintains the sense of nostalgia, while still being innovative. The business model now includes the installation, sales and servicing of more current beverage systems, as well as the rebuild and repair of vintage soda fountains. Looking to the future, the company may also expand into the production of difficult to find parts.
Co-owners and siblings, Terry and Phil Schy, utilized the SBIF grant for masonry work, roofing repairs and the installation of new doors and windows along the rear of the building.
Learn more by visiting their showroom in West Town or www.americansodafountain.com.
The City of Chicago’s Small Business Improvement Fund (SBIF) promotes economic development by providing small businesses with financial assistance for building-improvement costs. SomerCor is the program administrator of the City’s Department of Planning and Development SBIF program. SBIF grants use local Tax Increment Financing (TIF) revenue to reimburse you for the pre-approved repair or rehab of your business facilities or adjacent land acquisition. You must be located within a SBIF eligible TIF district. The maximum grant assistance for an industrial property is $150K; for a single-tenant commercial property the maximum is $100K; and for multi-tenant commercial property, it is $50K. Click here if you are interested in learning more about this program.
