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SomerCor 504 Inc
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.
To help local industrial companies expand and create employment oportunties for Chicago residents.
Qualifications and Restrictions
Expenses eligible for a SBIF grant include:
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.