Learn about the Small Business Improvement Fund (SBIF) Program! From neighborhood business strips to the city's industrial corridors, small businesses are an essential piece in the economic and cultural fabric of the City of Chicago.
The SBIF promotes economic development by providing small businesses with financial assistance for building-improvement costs.
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 specific 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.
Grant funds are provided after an approved project is complete and all expenses are paid.
Applications for the Western Avenue South TIF District
, which includes parts of Northcenter, open on Friday, March 1, 2019.
There will be a presentation by SomerCor on the SBIF Program as well as from Kate Piatt-Eckert, Executive Director of Steep Theatre Company, on their use of the Program. The Northcenter Chamber is proudly cohosting this event with the Roscoe Village Chamber of Commerce.