- February 1, 2023
- 1:00 pm to
- Member: FREE
- Non-member: FREE
- Department of Planning and Development
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 max of $150,000 for commercial properties and $250,000 for industrial properties. SBIF grants do not need to be repaid.
Applications for businesses in the Clark/Montrose TIF District open on February 1st and close March 3rd. Click here to read our full post about the 2023 Clark/Montrose Small Business Improvement Fund.
Ready to learn more about the Clark/Montrose SBIF?
On Wednesday, February 1st at 1 PM, the Department of Planning & Development and SomerCor* will host a webinar to review program requirements and the application process. The presentation will include an overview of recent program changes adopted by City Council, as well as time for Q&A.
*SomerCor is the SBIF program administrator contracted by DPD.
About Our Speaker
Department of Planning & Development
As the principal planning agency for the City of Chicago, DPD promotes the comprehensive growth and sustainability of the City and its neighborhoods. The department also oversees zoning and land use policies, and employs a variety of resources to encourage business and real estate development, historic preservation, accessible waterfronts, walkable neighborhoods, and related community improvements.