Deadline Extended for Little Village Small Business Improvement Fund Applications

March 3, 2020 By In Uncategorized No Comment

Little Village: Submit Your Small Business Improvement Fund Application to Recoup up to $150,000

The Small Business Improvement Fund, or SBIF, is a City of Chicago grant program available to commercial and industrial businesses. The initiative is a vital part of Mayor Lori Lightfoot’s commitment to supporting Chicago‚Äôs small businesses.

SBIF grants are intended to help small business owners renovate, expand or start-up businesses along commercial and industrial corridors in Chicago.

Small business owners and property owners that lease to businesses in the Little Village SBIF district can receive reimbursement grants of up to $150,000 for industrial projects to cover the cost of eligible remodeling work.

If you have any questions about applying, please do not hesitate to reach out to Lenrow Felton, lfelton@lawndalebusiness.org.

Find Out If You Qualify

Reimbursable Expenses

  • Permanent exterior improvements and storefront renovation
  • Building systems improvements
  • Tuck-pointing and masonry repairs
  • Structural components of new signage
  • Interior remodeling including ADA-compliance improvements
  • Environmental remediation
  • Purchase of adjacent property for business expansion or parking

Benefits to You

  • Receive reimbursement grants for up to 75% of your pre-approved project cost
  • Grants do not have to be repaid
  • Projects can be completed in up to three phases within 300 days
  • Grant approval can be used to secure conventional loan for your project
  • Funds can be used to repay a loan

The application period for Little Village is open until March 31.

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