For the first time in years, the City of Chicago’s Small Business Improvement Fund (SBIF) is open on Goose Island.
SBIF provides property owners and tenant businesses with reimbursable grants for permanent building improvements. These funds can be used for new roofs, windows, doors, HVAC systems, electrical work, interior remodeling, solar panels, and more.
Commercial businesses are eligible for a grant up to $150,000 while industrial firms with 200 or less employees can receive a maximum of $250,000 with fifty percent project reimbursement.
Property owners and businesses must complete their projects up front; then the city will pay the business its SBIF grant within 4-6 weeks after the project is done.
North Branch Works is leading the outreach to property owners and businesses with physical locations in the Goose Island Tax Increment Financing District (TIF).
The city is making a total of $990,000 available for this round.
SBIF does not come around often so we encourage the property owners and businesses in our network to consider applying.
The deadline to apply is Tuesday, September 30th at 5 p.m.
The application can be completed via Submittable.
Our staff is available for individual consultations and assistance with the application. We’d love help your property or business win a SBIF grant if you can use one.
With questions and for help applying, please contact Steve Simmons at 773-929-5552 x2226 or steve@northbranchworks.org
Image credit: Curtis Waltz
