The Chamber is a Starting Point & Resource for Business Assistance

SMALL BUSINESS IMPROVEMENT FUND (SBIF) GRANT


If your business is in one of Chicago's TIF Districts, the City's Small Business Improvement Fund (SBIF) provides eligible applicants with financial assistance for building-improvement costs.

SBIF grants use local Tax Increment Financing (TIF) revenue

to reimburse pre-approved repair or rehab of your business facilities or adjacent land acquisition. The maximum grant assistance for industrial property is $150K; single-tenant commercial property $100K; and for multi-tenant commercial property, $50K.  When a pre-approved project is completed and all expenses paid by the applicant, costs are reimbursed. 

REIMBURSEABLE EXPENSES

  • Permanent exterior improvements, storefront renovation

  • Building systems improvements

  • Tuck-pointing and masonry repairs

  • Structural components of new signage

  • Interior remodeling including ADA-complianT improvements

  • Environmental remediation

  • Purchase of adjacent property for expansion or parking

Click on Icon to access information & resources on the City of Chicago or the Business Affairs & Consumer Protection websites.

NEIGHBORHOOD OPPORTUNITY FUND


The City of Chicago implemented reforms to the City’s Zoning Code to ensure the growth of downtown would leverage new development and catalyze investment on Chicago’s West, Southwest and South Sides. Business and property owners can apply for grants to develop or rehabilitate real estate and projects that support new or expanding businesses or cultural assets.

All grants must be preapproved prior to the start of a project.

 

Click to see if your proposed project is in an eligible zone

Applicants requesting up to $250,000 must be located in an eligible Commercial Corridor.  The current application period opened January 11th, 2019 and closes March 5th, 2019.  

Applicants requesting more than $250,000, for projects with special neighborhood impact, can be located outside of an eligible commercial corridor and applied for at any time during a calendar year.

ELIGIBLE COSTS

  • Land acquisition and assembly

  • Building acquisition, demolition, environmental remediation

  • Security measures

  • Roofing, façade and mechanical system repairs

  • Architectural and engineering fees

  • Financing fees related to securing a loan or capital

  • Minor site improvements when a part of an eligible project

  • Other soft costs associated with eligible hard costs