Small Business Improvement Fund (SBIF) Grant Application 2025:

The Small Business Improvement Fund (SBIF) provides noncompetitive grant funding for permanent building improvements and repairs in designated tax increment financing (TIF) districts across the city. Grants are available to cover 30% to 90% of eligible improvement costs. For commercial properties occupied by a single owner or tenant, the maximum grant is $150,000. For commercial properties occupied by multiple owners or tenants, there is a limit of $75,000 per applicant and $250,000 per property. The maximum assistance for industrial properties is $250,000.* These grants do not have to be repaid. 

The SBIF grant is a REIMBURSEMENT for a percentage of eligible project costs. Applicants pay for project costs upfront. The City reimburses for agreed-upon project expenditures. Reimbursements may be structured in multiple phases or as one payment at the end of construction.

To determine whether your property or business is located in a TIF district, please use our SBIF locator tool. For more information on when applications for specific TIF districts open, consult the SBIF rollout calendar. 

The SBIF grant is administered on behalf of the Department of Planning and Development by SomerCor. For more information about program rules and applicant requirements visit somercor.com/sbif.

*SBIF grants up to $250,000 are available along LaSalle Street in the Loop. Landlords and tenants of commercial properties are eligible to apply, with $50,000 bonuses available for certain applicants.