The Small Business Improvement Fund (SBIF) is one of Chicago’s longest-running and most successful programs, helping to retain and expand small businesses in nearly every neighborhood. SBIF grants use local Tax Increment Financing (TIF) revenue to reimburse businesses for permanent building repairs and upgrades. These grants can cover 30 to 90% percent of the cost of remodeling work, with a maximum of $150,000 for commercial properties and $250,000 for industrial properties. SBIF grants to not need to be repaid.

Grant applications for businesses in the Clark/Montrose TIF District (map below) open on February 1st and close March 2nd. Click here for more on the Clark/Montrose SBIF.

Ready to learn more about SBIF?

Join the Department of Planning + Development and SomerCor for an online SBIF info session at 1pm on Wednesday, February 2, 2022. SomerCor is the program administrator contracted by DPD.