SomerCor

SBIF Grant Structure

The City of Chicago’s SBIF Grant uses local Tax Increment Financing (TIF) revenues to reimburse eligible applicants for repairing or remodeling their facilities within specific TIF districts. The following features apply to this grant program:

Maximum Grant Assistance

  • Industrial Property – $150,000 per property
  • Commercial Property – $100,000 per single-tenant property
  • Multi-tenant Property – $250,000 per property with $50,000 per owner/tenant

Grant Type

Reimbursement grant, paid after work is completed by the applicant, and proof of payment to their city-licensed contractors is received by the City of Chicago.

Multiple Grants

Yes, applicants may receive one or more grants up to their maximum program assistance. Once this maximum is reached, the applicants will need to wait three years to reapply.

Grant Repaid?

No, the grant does not have to be repaid.

Am I eligible?

If you are located in an eligible SBIF district and meet the eligible business requirements, then you will be eligible to receive this grant.

Grant Average

The typical average grant amount is $40,000.