The City of Chicago’s Small Business Improvement Fund (SBIF) is an incredible program that strengthens local businesses and property owners.

SBIF provides reimbursable grants for permanent building improvements like a new roof, floor, windows, HVAC system, interior remodeling, masonry repairs, and more.

We’re excited that SBIF will open in two parts of our service area: Kennedy/Kimball in April and on Goose Island in August. When the program opens, businesses and property owners will have one month to submit an initial application.

Commercial businesses can receive a grant up to $150,000 while industrial companies with 200 or less employes can obtain a maximum of $250,000 with 50% project reimbursement.

To be eligible for SBIF, businesses must have a physical location in the open Tax Increment Financial District (TIF).

You can determine if your property is in the Kennedy Kimball or Goose Island TIF by using this SBIF Locator Tool.

When the program opens in these TIF Districts, businesses will have one month to submit an initial application.

North Branch Works will lead the outreach to commercial, manufacturing, and industrial companies located in Kennedy Kimball and on Goose Island.

We can also help businesses move through the SBIF process that follows the initial application. We regularly connect businesses to contractors, help them obtain low-interest loans, and complete the reimbursement paperwork.

For more details about how area businesses have benefited from SBIF, please see these success stories at Lucas Tire & Autocare and K.H. Hapkido School.

If you have any questions about SBIF or would like to discuss project ideas, please contact Steve Simmons at 773-929-5552 x2226 or steve@northbranchworks.org