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:
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