The City of Chicago’s Small Business Improvement Fund (SBIF) is one of the best programs we have for strengthening small, manufacturing, and industrial firms.
Every month, SBIF opens in various Tax Increment Financing Districts (TIF) across the city.
Currently, property owners and businesses located in the Division/Homan TIF District can apply for reimbursable grants.
The deadline to apply is Sunday, March 30th at 5 p.m.
Commercial businesses are eligible for a grant up to $150,000 while industrial companies with less than 200 employees can receive a maximum of $250,000 with 50% project reimbursement.
The Division/Homan TIF includes parts of Humboldt Park and West Town. To see if your location is eligible for SBIF, please go here.
SBIF funds can be used for permanent building upgrades like tuckpointing, installing a new roof, remodeling bathrooms, replacing a HVAC unit, putting in new doors and windows, and more.
The Division/Holman TIF expires in 2025 so this is the last year the program will be offered in this area. Companies can apply for SBIF through this portal on Submittable.
North Branch Works is teaming up with Greater Northwest Development Corporation to ensure businesses in this area don’t miss out on this incredible opportunity.
Our staff is available for individual consultations and can walk businesses through the initial application and submit it on your behalf.
We can also help you navigate the process and complete your project in a timely fashion.
Recently, Lucas Tire & Autocare and Hyun’s Hapkido and Taekwondo School completed SBIF projects with our guidance.
With questions and for help applying for SBIF, please contact Steve Simmons at 773-929-5552 x2226 or steve@northbranchworks.org.
Image credit: Midwest Fence Corporation
