Small Business Improvement Fund (SBIF)
chicago.gov
Provides Tax Increment Financing (TIF) reimbursement grants to small commercial and industrial business owners for permanent building improvements and repairs in designated Chicago TIF districts. Commercial properties can receive up to $150,000 and industrial properties up to $250,000 in grant funding.
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Helps small commercial and industrial businesses in Chicago pay for building improvements. Grants can cover up to $150,000 for commercial and $250,000 for industrial properties.
Quick Facts
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What Benefits Are Offered?
Reimbursement grant funding for permanent building improvements and repairs across Chicago's TIF districts. The grant covers between 30% and 90% of eligible project costs, depending on the applicant's gross sales/receipts, net worth, or number of employees. Maximum grant amounts are $150,000 for single-owner commercial properties, $250,000 for industrial properties, $250,000 for multi-tenant commercial properties (with a $75,000 maximum per tenant), and $250,000 for multi-tenant industrial properties (with a $100,000 maximum per tenant). Funds are non-repayable.
Who Is Eligible?
Business Size: small
Industries: industrial, commercial
Region: Chicago, TIF districts
Revenue Range: 9000000
Other Criteria: Tenants and owners of industrial and commercial properties, Property must be located in an eligible TIF district where SBIF funds are available and applications are open, Commercial businesses: gross annual sales up to $9 million on average over the previous three years, Commercial property owners: net worth up to $9 million and liquid assets up to $500,000, Industrial businesses: up to 200 full-time employees, Projects must be for permanent building improvements and repairs (e.g., exterior/interior renovations, HVAC, electrical, plumbing, ADA improvements, signage, architectural fees), Applicants must pass a 'scofflaw check' (no debts owed to the City of Chicago or Cook County, current on child support payments if applicable), Grantee must maintain an active, licensed business within the property and not relocate, sell the property, or sell the business/property ownership entity for at least three years after receiving funding, Start-up businesses are generally eligible but must provide detailed business plans and 36-month financial projections, Taverns and bars must have been open and operated by current owners for at least two years
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📋What Are the Application Steps & Timeline?
- 📝Steps to Apply
- Check if your business/property is in a SBIF District.
- Gather required documents.
- Complete the online application via Submittable.
- Submit the application before the closing date.
- 🌐Application Portal
- https://www.chicago.gov/sbif
- 📤Submission Method
- online
- 📅Key Dates
- August 1, 2026Application Period OpensAugust 30, 2026Application Period ClosesSeptember 1, 2026Application Period OpensSeptember 30, 2026Application Period ClosesOctober 1, 2026Application Period OpensOctober 30, 2026Application Period Closes
- 🔄Intake Type
- periodic
📄What Documents Are Required?
- ✅Required Documents
- Business Tax Returns
- Proof of property ownership
- Economic Disclosure Statement & Affidavit
- Personal Financial Statement
- Affidavit of Child Support Form
- Principal Profile Form
- Jobs Created/Retained Survey
- For Start-ups, business plan and three years’ projected income and expenses
- Executed lease agreement
- Affidavit and Certification of Property Owner
- Affidavit of Full-Time Equivalent Employees
- Copies of tenants’ leases
- 📐Format Requirements
- PDF only, max 10MB
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💰What Expenses Are Eligible?
- 🧾Eligible Expenses
- Exterior renovations and repairs
- Interior remodeling
- Tuck-pointing and masonry repairs
- HVAC upgrades
- Electrical upgrades
- Plumbing upgrades
- ADA improvements
- Project-related architectural fees
- Construction management fees
- 🚫Ineligible Expenses
- New construction
- Minor repairs or improvements
- Equipment-related expenses
- Outdoor dining and drinking areas
- Work on the interior of residential units
- Fencing
- Parking lot construction or repair
- Landscaping
- 💳Payment Model
- reimbursement
🤝Is Matching Funding Required?
📊What Are the Reporting Requirements?
- 🗓️Reporting Frequency
- final only
- 📑Reporting Requirements
- sworn statement
- invoices
- cancelled checks
- waivers of lien
- 🔍Audit Requirements
- OMB Uniform Guidance Single Audit if the recipient expends $750,000 or more in federal awards in a fiscal year
- 📢Branding Requirements
- Acknowledgment of federal funding is required
- 🗄️Record Retention Period
- 3 years post-final-report
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FAQFrequently Asked Questions
This program is available to small businesses in industrial, commercial industries located in Chicago, TIF districts.
This program offers funding up to $250,000.
This program accepts applications on a rolling basis.
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