Little Village SBIF Grants: Recoup up to $150,000 in Remodeling Investments (limited time)

August 22, 2018 By In Blog Posts No Comment

Little Village SBIF 2018

Businesses in the Little Village TIF corridor are invited to apply for SBIF grants providing reimbursement of remodeling expenses of up to $150,000, from September 1 through September 30, 2018.

For example:

  • Spend $300,000 or more and apply for reimbursement of up to $150,000
  • Spend $100,000 and apply for reimbursement of up to $50,000

What Is a SBIF?

The Small Business Improvement Fund (SBIF) is a City of Chicago grant program administered through SomerCor 504, Inc. to help small business owners in high need areas. The grants are available to eligible industrial businesses in designated corridors throughout the city, in coordination with Mayor Rahm Emanuel’s support of Chicago’s small business community.

SBIF grants are intended to help small business owners in eligible areas renovate, expand or start up businesses.

The grants are offered to small business owners who own or lease their property, and property owners who lease to businesses in the Little Village SBIF district. Applications must be submitted by September 30, 2018. Learn more here: City of Chicago 2018 SBIF announcement for the Little Village TIF corridor

SBIF Before & After

Before & After Remodeling Eligible for SBIF Reimbursement

How to Apply

Step 1: Identify Your TIF Area

View a map of the Little Village TIF corridor here.

Step 2: Download and Review the SBIF Eligibility Requirements

Step 3: Download the SBIF application form

Step 4: Submit Your Application by August 31 (follow directions on the application)

If applications exceed available funds, applicants will be considered in an order determined by lottery. Lottery announcements are found here.

What Is the LBRA?

The mission of the Lawndale Business Renaissance Association (LBRA) is to revitalize businesses, both industrial and commercial, in the Lawndale and Little Village communities, bordered by Austin and Western avenues and the Eisenhower (I-290) and Stevenson (I-55) expressways. The LBRA works to attract, retain and grow businesses in the area through the strategic deployment of city, county, state and federal programs and incentives.

Learn more about this SBIF and how our other services can help your business grow

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