Bank Enterprise Award Program

Department Of The Treasury, Community Development Financial Institutions

The Bank Enterprise Award Program (BEA Program) provides monetary awards to FDIC-insured depository institutions (i.e., banks and thrifts) that demonstrate increased investments and support to certified Community Development Financial Institutions (CDFIs) or in their lending, investing, or service-related activities in the most economically distressed communities.

Jargon-free version

Helps banks invest in their communities and support local financial institutions. Banks receive awards for increasing community development financing.

Quick Facts

Funding
Contact for details
Deadline
Jun 25, 2024
Status
Rolling Intake
Category
Regional & Community Development
Organization
Department Of The Treasury, Community Development Financial Institutions

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What Is This Program?

The BEA Program awards Federal Deposit Insurance Corporation (FDIC)-insured depository institutions for increasing their investments and support of CDFIs and increasing their community development financing and service activities in the most economically distressed communities.

What Benefits Are Offered?

grant

Monetary awards provided to eligible institutions for successfully demonstrating increased investments and support of CDFIs, and for advancing community development financing and service activities in economically distressed communities. Award amounts align with the increase in Qualified Activities.

Who Is Eligible?

Industries: financial services

Region: United States

Other Criteria: FDIC-insured depository institutions (banks and thrifts), Demonstrate an increase in investments in Certified Community Development Financial Institutions (CDFIs) or in own lending, investing, or service activities in economically distressed communities, Engage in 'Qualified Activities' across three categories: CDFI Related Activities, Distressed Community Financing Activities, or Service Activities, Target activities in 'distressed communities', defined as areas where at least 30% of residents have incomes less than the national poverty level and the unemployment rate is at least 1.5 times the national unemployment rate

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๐Ÿ† Detailed Application Guide

๐Ÿ“‹What Are the Application Steps & Timeline?

๐Ÿ“Steps to Apply
  • Step 1: Application Process
  • Step 2: Award Announcement
  • Step 3: Closing and Disbursement
  • Step 4: Compliance and Reporting
๐ŸŒApplication Portal
https://amis.cdfifund.gov/
๐Ÿ“คSubmission Method
online
๐Ÿ“…Key Dates
April 26, 2024FY 2024 Round Opens
May 9, 2024BEA Program General Application Webinar #1
May 22, 2024BEA Program General Application Webinar #2
May 28, 2024Deadline for Submitting SF-424 Mandatory through Grants.gov
June 21, 2024Last day the CDFI Fund will answer questions about the Application
June 25, 2024Last day to contact IT Help Desk regarding AMIS related support and submission of the Application
June 25, 2024Deadline for submitting FY 2024 BEA Program Electronic Application in AMIS
September 19, 2024BEA Program Award Announcement
๐Ÿ”„Intake Type
fixed-deadline

๐Ÿ“„What Documents Are Required?

โœ…Required Documents
  • SF-424 (Application for Federal Assistance)
  • SF-424A (Budget Information - Non-Construction)
  • SF-424B (Assurances)
  • Project Narrative
  • Budget Narrative
  • indirect cost rate agreement
๐Ÿ“Format Requirements
PDF only, max 10MB
๐Ÿ“ฅTemplates Available

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๐Ÿ’ฐWhat Expenses Are Eligible?

๐ŸงพEligible Expenses
  • costs associated with investments in low-income communities
  • financial services to underserved populations
  • technical assistance to community development financial institutions (CDFIs)
๐ŸšซIneligible Expenses
  • costs not directly related to community development
  • expenses for non-eligible census tracts
๐Ÿ“Expense Caps
Administrative costs capped at 15%
๐Ÿ’ณPayment Model
reimbursement
โชRetroactive Expenses Eligible
No

๐ŸคIs Matching Funding Required?

๐Ÿ”€Matching Required
Yes
๐Ÿ“ŠMatching Ratio
null
๐ŸฆEligible Matching Sources
  • cash
  • in-kind contributions
๐Ÿ“šStacking Rules
null
๐Ÿ›ก๏ธProof of Matching Required
null

๐Ÿ“ŠWhat Are the Reporting Requirements?

๐Ÿ—“๏ธReporting Frequency
annual
๐Ÿ“‘Reporting Requirements
  • performance progress report
๐Ÿ”Audit Requirements
OMB Uniform Guidance Single Audit if the recipient expends $750,000 or more in federal awards
๐Ÿ“ขBranding Requirements
acknowledgment of federal funding
๐Ÿ—„๏ธRecord Retention Period
3 years post-final-report

How Do I Apply?

bea@cdfi.treas.gov
(202) 653-0300

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FAQFrequently Asked Questions

Visit the program page for detailed eligibility requirements.

Contact the program administrator for funding details.

The application deadline is June 25, 2024.

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