Small Business Improvement Fund Rollout

The Small Business Improvement Fund (SBIF) program uses Tax Increment Financing (TIF) revenues to help owners of commercial and industrial properties within specific TIF districts to repair or remodel their facilities for their own business or on behalf of tenants.

Staring September 1, 2023, SBIF staff will begin to roll out a series of enhancements to the program. Most notably, the maximum grant amount will increase to $150,000 for commercial properties and $250,000 for industrial properties. Additionally, commercial applicants may be eligible to receive reimbursement up to 90% of eligible project costs.

The Kinzie Industrial Corridor’s application opens on September 1, 2023. Contact Rod Burch at rod@wcachicago.org to see if you qualify.

Learn more about the Kinzie Industrial Corridor here.

Qualifications and Restrictions

Expenses eligible for a SBIF grant include:

• Façade repair and replacement

• Permanent interior renovations and build out

• New windows, floors or roof

• New heating, ventilation and air conditioning

• Plumbing

• Electrical

• Improvements to accommodate disabled patrons or workers

• Purchase of adjacent property for building expansion or parking

• Project-related design and construction fees

SBIF grants are provided as reimbursement to property owners after remodeling work is completed and expenses are paid. Residential property, residential components of mixed-use buildings, and property leased to 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 SBIF-eligible business tenant.

Presentation & Informational Webinars

SBIF Presentation—-> Here

Wednesday, September 6 webinar: coming soon