Small Business Improvement Fund (SBIF)

The Back of the Yards Neighborhood Council and Aldermen James Balcer (11th), George Cardenas (12th), Willie B. Cochran (20th), Pat Dowell (3rd), and JoAnn Thompson (16th) have successfully brought the Small Business Improvement Fund to the 47th/Ashland TIF District.

The 47th/Ashland TIF District has become eligible for Small Business Improvement Fund (SBIF) grants. This program uses TIF revenues to help the owners of commercial and industrial properties to repair or remodel their facilities for their own business or on behalf of their tenants. Program Participants can receive up to 75% of the cost of remodeling work, with a maximum grant amount of $150,000. The grant does not have to be repaid. Small businesses with less than $1.5 million in sales and industrial companies that have less than 100 employees may be eligible for this program.

Expense eligible for a SBIF Grant include:
• New windows, floors or roof
• Sign Removal and replacement
• Tuck Pointing
• New heating, ventilation, and air conditioning
• Improvements to accommodate disabled patrons or workers
• Purchase of adjacent property for building expansion or parking
• Paving of parking facilities

Please call Fabiola Flores for more information, (773) 523-4416, or visit the SomerCor website.