The City of Chicago’s Small Business Improvement Fund (SBIF) is one of the best tools that we have to strengthen local firms and create high-quality jobs.
In September, SBIF was open in the River West Tax Increment Financing District (TIF), which includes the southern part of North Branch Works’ service area.
Every month SBIF districts open across the city, providing businesses with an incredible opportunity to apply for a reimbursable grant for building upgrades.
It’s a great way to cover most of the cost of new windows, doors, and roofs, installing an HVAC system, repairing masonry, remodeling a bathroom, and more.
Commercial businesses are eligible for grants up to $150,000 with 90%, 60% or 30% project reimbursement depending up on annual revenue.
Industrial firms can receive up to $250,000 with 50% project reimbursement.
Our staff led the outreach to eligible businesses in River West. We sent emails and letters, made phone calls, and did in-person canvassing.
We’re thrilled to report that twelve companies applied to SBIF. These businesses include:
Stay tuned to our blog and e-newsletter for information about upcoming SBIF openings. To see a projected calendar of SBIF openings, please go here.
The SBIF program is administered by SomerCor.
North Branch Works would like to thank the SBIF team at SomerCor for their amazing support as we promoted SBIF to businesses in River West.
With questions about SBIF, please reach out to Steve Simmons at 773-929-5552 x 2226 or steve@northbranchworks.org:10033
