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Find similar grantsSmall Business Improvement Fund (SBIF) is sponsored by City of Chicago, Department of Planning and Development (DPD) and SomerCor. The Small Business Improvement Fund (SBIF) provides reimbursement grants for permanent building improvements and repairs to commercial and industrial properties within designated Tax Increment Financing (TIF) districts in Chicago.
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The . gov means it' official _ # Chicago - City of Chicago Official Website_ Language Apply Translation # Small Business Improvement Fund # Small Business Improvement Fund (SBIF) Search a business address to find out if and when SBIF grants will be available in your neighborhood. SBIF grants are available in select districts across the City of up to $150,000 for commercial properties and up to $250,000 for industrial properties.
# Frequently Asked Questions Different rules apply for the SBIF program if you're a commercial tenant, a commercial property owner or an industrial business. See the FAQs for more details. Get monthly notifications from the SBIF team on where grant applications will open next.
The Small Business Improvement Fund (SBIF) provides reimbursement grant funding for permanent building improvements and repairs across the city. Offered by the Department of Planning and Development (DPD)") to tenants and owners of industrial and commercial properties, SBIF grants are funded by Tax Increment Financing (TIF) revenues in designated TIF districts citywide.
Program participants can receive grants to cover between 30 percent and 90 percent of the cost of remodeling work, with a maximum grant of $150,000 for commercial properties and $250,000 for industrial properties. The grant, which is administered by SomerCor on the City’s behalf, does not have to be repaid. SBIF grants are not awarded on a competitive basis.
Grants are awarded to applicants who meet eligibility criteria and follow program requirements.
* Business properties located in a TIF district where SBIF funds are available and the SBIF is open for applications * Commercial businesses with gross annual sales up to $9 million on average over the previous three years * Commercial property owners with net worth up to $ 9 million and liquid assets up to $500,000 * Industrial businesses with up to 200 full-time employees * Residential projects are not eligible for SBIF grants Learn more about eligibility When are grants available near me?
SBIF applications are submitted during monthly rollout periods for individual TIF districts. Upcoming dates are listed below. **OPENS:**9 a.
m. Wednesday, July 1 **CLOSES:**5 p. m.
Thursday, July 30 * Little Village Industrial _Informational Webinar_ 1 p. m. Wednesday,July 1 |Video **OPENS:**9 a.
m. Saturday, Aug. 1 **CLOSES:**5 p.
m. Sunday, Aug. 30 * Northwest Industrial Corridor _Informational Webinar_ 1 p.
m. Wednesday,Aug. 5|Register **OPENS:**9 a.
m. Tuesday, Sept. 1 **CLOSES:**5 p.
m. Wednesday, Sept. 30 _Informational Webinar_ 1 p.
m. Wednesday, Sept. 2 | Register ### See Full Rollout Calendar DPD offersan online application via the Submittable platform.
A ny questions about the application can be sent to sbif@cityofchicago. org. Any questions about program rules and eligibility can be directed to SBIF program administrator SomerCor at sbif@somercor.
com. Seminario Web Informativo en Español Your feedback will be used to help improve Google Translate
According to the current listing, eligibility includes: Commercial businesses with gross annual sales up to $9 million on average over the previous three years; commercial property owners with net worth up to $9 million and liquid assets up to $500,000; industrial businesses…. Confirm the full requirements in the official notice before applying.
The current listing shows up to $150,000 for commercial properties, up to $250,000 for industrial properties, up to $75,000 for multi-tenant properties. Verify award ceilings, matching requirements, and allowable costs in the official notice.
Small Business Improvement Fund (SBIF) is funded by City of Chicago, Department of Planning and Development (DPD) and SomerCor. Verify program details on the funder's official page before applying.
Start from the official opportunity page linked in this listing — it carries the sponsor's submission instructions.
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