Small Business Improvement Fund Grants
Grants up to $250,000 will support new retail, dining and cultural projects along LaSalle Street in the Loop.
Funding from the City's Small Business Improvement Fund (SBIF) will help entrepreneurs create cafes, restaurants, stores and other neighborhood-oriented amenities for the Loop's growing population.
From Sept. 1 to Oct. 2, 2023, SBIF applications were being accepted for ground-level projects within the target LaSalle Street corridor that serve local residents and businesses (see map below for target corridor boundaries). Qualifying projects are eligible for up to $250,000 in grant funding, with $50,000 bonuses available for businesses expanding from low- and moderate-income neighborhoods.
SBIF provides grant reimbursements for approved permanent building improvements and repairs, including but not limited to:
- Storefront and facade upgrades
- Interior renovations and fixtures
- Plumbing and electrical work
- ADA compliance
- Architectural and construction management fees
The SBIF funding will complement the creation of more than 1,000 planned mixed-income apartments near LaSalle and Adams and the influx of thousands of Google employees planned for the former Thompson Center at LaSalle and Randolph.
Landlords and tenants of commercial properties are eligible to apply.
Any additional questions about SBIF funding can be directed via email to firstname.lastname@example.org.
How to apply
Applications were required to be submitted to DPD’s program administrator, SomerCor. To find the application, along with additional program information or application assistance, visit the SomerCor website.
Informational Webinar | July 27, 2023
Informational Webinar | June 27, 2023