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Last Updated July 15, 2022

Program Overview

Category:

Financial Incentive

State:

Illinois

Incentive Type:

Grant Program

Administrator:

SomerCor

Start Date:

N/A

Expiration Date:

N/A

Web Site:

http://www.somercor.com/sbif/

Applicable Sectors:

N/A

Eligible Renewable/Other Technologies:

N/A

Summary

SomerCor administers the Small Business Improvement Fund for the City of Chicago. The fund utilizes revenue from Tax Increment Financing (TIF) and supports commercial and industrial properties.

SBIF provides grants to commercial businesses for 30%, 60%, or 90% of the costs of permanent building improvements such as storefront renovation building systems, interior remodeling, and roof replacement. Industrial businesses with 200 or fewer employees are eligible for grants covering 50 of the project cost.

Steps to apply

  1. Confirm your business is in a SBIF district
  2. Check which districts are open
  3. Review SBIF Eligibility requirements
  4. Review SBIF program rules
  5. Fill out an application and submit it to SBIF@somercor.com