Small Business Improvement Fund (SBIF)

For application information, visit:

SomerCor 504 Inc

SBIF Grants/Completed Projects Database

Program participants can receive matching grants to cover up to half the cost of remodeling work, with a maximum grant amount of $150,000. The grant does not have to be repaid.

Objective
To help local industrial companies expand and create employment oportunties for Chicago residents.

Qualifications and Restrictions
Expenses eligible for a SBIF grant include:

New windows, floors or roof
Sign removal and replacement
Tuckpointing
New heating, ventilation and air conditioning
Improvements to accommodate disabled patrons or workers
Purchase of adjacent property for building expansion or parking

SBIF grants are provided to property owners after remodeling work is completed and all expenses are paid. Residential property, residential components of mixed-use buildings, and property leased to fast-food chains and certain other businesses are not eligible for the program. Vacant business property is eligible, but grants are not paid until the space is occupied by a business tenant.