Home » Departments and Divisions » Community Investment » Business Development » Incentives and Grants Incentives and Grants Location-Based Incentives Industrial Revolving Loan Fund The Revolving Loan Fund provides gap and primary financing to private borrowers and start-up businesses in the City of South Bend, IN. It works for your business to equalize the playing field and offer an enhanced return on investment financing. Recovery Revolving Loan Fund (Covid-19) The Recovery Revolving Loan Fund (RLF) provides gap and primary financing to private borrowers including start-up businesses in the City of South Bend impacted by COVID-19. Our loans carry a low interest rate and flexible terms of repayment to support the recovery of impeded business operations. The funds are loaned up to 20 years for real estate, 10 years for equipment, and 3 years for working capital. Loans can range from $50,000-$1.5 million. Tax Abatement information A Tax Abatement is an exemption from property taxes on eligible properties for up to 10 years. The amounts of these partial or full abatements can reach up to 100 percent of the increase in appraised value that results from developers’ improvements to the property. How to apply: If you’re interested in pursuing a Tax Abatement for your project, contact the City of South Bend Business Development Team at 574.235.5838 to get started. Staff will determine whether your project would be best fit for a tax abatement and will walk you through next steps. Tax Increment Financing (TIF) Eligibility Tax Increment Financing (TIF) is a way to provide funding for economic development purposes by capturing the growth in property taxes generated by new development. TIF revenues can be used to pay for local, public improvements needed to encourage private development or to facilitate additional development in the TIF area. Grants Downtown South Bend Exterior Enhancement Grant For businesses located in downtown South Bend. The purpose of the Exterior Enhancement Matching Grant is to provide assistance in funding well-designed buidling façade and streetscape improvements respecting the buildings history, original design integrity and adjacent structures and making a noticable visual enhancement in the downtown area. Neighborhood Corridors Matching Grant Program In partnership with the City of South Bend, the Urban Enterprise Association (UEA) is pleased to offer the Neighborhood Corridors Matching Grant Program to provide funding for qualifying exterior improvements to commercial, mixed use, and industrial buildings located on eligible blocks of Lincolnway West, Linden Avenue, Miami Street, Michigan Street, Mishawaka Avenue, Portage Avenue, and Western Avenue. The program will assist in funding well-designed projects that make a noticeable visual improvement to the street and are consistent with the goals of neighborhood and corridor plans, when present. VIEW ALL NEWS