Small Business Improvement Fund

The Small Business Improvement Fund (SBIF) is a reimbursement grant program administered by the Department of Planning and Development (DPD) in Chicago. It aims to support small commercial and industrial businesses by funding permanent building improvements and repairs. The program is financed through Tax Increment Financing (TIF) revenues and is targeted at properties located within designated TIF districts across the city. SomerCor, a nonprofit small business lender, manages the program on behalf of the city. SBIF provides grants covering 30 to 90 percent of eligible renovation costs, depending on project specifics. The maximum reimbursement is capped at $150,000 for commercial properties and $250,000 for industrial properties. These grants do not require repayment and are not awarded through a competitive process; rather, they are provided to applicants who meet eligibility criteria and comply with all program requirements. Eligible improvements include exterior and interior renovations, such as window and roof replacement, drywall installation, flooring, HVAC, and ADA compliance upgrades. Architectural and construction management fees directly related to eligible work are also reimbursable. However, funding does not cover new construction, minor repairs like painting, equipment purchases, or other disallowed categories like landscaping and parking lot repairs. Eligible applicants include commercial businesses with average gross annual sales of up to $9 million over the prior three years, commercial property owners with net worths up to $9 million and liquid assets up to $500,000, and industrial businesses with 200 or fewer full-time employees. Residential projects are explicitly excluded. The program also bars participation from several types of businesses, such as national chains, liquor stores under two years of operation, financial services like currency exchanges, and certain nonprofits, among others. Applications are accepted during monthly rollout windows based on TIF district eligibility. Upcoming deadlines include windows in October, November, and December 2025. Applicants must submit their materials during the specified window for their district. DPD accepts applications via the Submittable platform or through a downloadable PDF. Program inquiries can be directed to SomerCor at [email protected]. Each rollout includes an informational webinar, and the application does not require competitive review. Applicants are encouraged to check the SBIF Locator Tool to determine district eligibility and timing.

Follow rollout windows; confirm TIF eligibility via locator; use webinar for clarification.