Small Business Improvement Fund

The Small Business Improvement Fund (SBIF) provides grant funding for permanent building improvements and repairs across the city. Donor Name: City of Chicago State: Illinois City: Chicago Type of Grant: Grant Deadline: 09/30/2024 Size of the Grant: $100,000 to $500,000 Grant Duration: Grant Duration Not Mentioned Details: Small Business Improvement Fund (SBIF) grants are available in select districts across the City of up to $150,000 for commercial properties and up to $250,000 for industrial properties. Eligible Expenses Most permanent building improvements are eligible for SBIF grants, including: Exterior renovations and repairs, including new windows, doors and roofs Interior remodeling, including framing, drywall, flooring and ceilings Tuck-pointing and masonry repairs HVAC, electrical and plumbing system upgrades Structural components of new signage ADA improvements Project-related architectural and construction management fees. Eligible Applicants The program is available for applicants that are: Commercial businesses with gross annual sales of up to $9 million on average over the previous three years Commercial property owners with a net worth of up to $9 million and liquid assets of up to $500,000 Industrial businesses with up to 200 full-time employees Residential projects are not eligible for SBIF grants. Ineligible Applicants Several types of businesses are explicitly ineligible for SBIF grants. These include: Chain and franchise businesses Branch banks Day labor employment agencies Currency exchanges, pay day, and title secured loan stores Pawn shops Fortune telling services Liquor stores and night clubs Adult uses Track waging facilities K-12 schools Gas stations Firearms dealers Places of worship Smoke shops and cigar lounges Tobacco dealers, including sales of tobacco, nicotine, or similar products and accessories Residential storage warehouses Trailer-storage yards, junk yards, and similar uses. For more information, visit City of Chicago.