Small Business Improvement Fund
The SBIF program encourages commercial and industrial business owners to invest in their property by making TIF funds available for building improvements. Applicants can receive reimbursement grants of up to $150,000 for both exterior and interior improvements such as new windows, floors, green and conventional roofs, heating and air conditioning systems and other energy-saving or green improvements.
SBIF currently operates within 68 TIF districts. Funding for SBIF comes from available TIF monies in each of the areas. Since 2000, TIF funds have helped more than 400 businesses in more than 40 TIF districts with more than $13 million in grants through the Small Business Improvement Fund (SBIF).Visit SomerCor's website for a complete list eligible types of businesses, a full application, program rules, renovation guidelines and a map of Chicago's SBIF districts. *To determine your eligibility or enroll in the SBIF program, call the Albany Park Chamber of Commerce at (773) 478-0202.
