Bank Enterprise Award Program

 

To encourage insured depository institutions to increase their level of community development activities in the form of loans, investments, services, and technical assistance within highly distressed communities and to provide assistance to certified Community Development Financial Institutions (CDFIs) through grants, equity investments, loans, deposits, and other forms of financial and technical assistance.

General information about this opportunity
Last Known Status
Active
Program Number
21.021
Federal Agency/Office
Community Development Financial Institutions Fund, Department of The Treasury
Type(s) of Assistance Offered
B - Project Grants
Program Accomplishments
Fiscal Year 2017 Please visit the CDFI Fund website for information on program accomplishments. The information can be accessed via www.cdfiund.gov/bea.
Fiscal Year 2018 Visit the CDFI Fund website for information on program accomplishments. The information can be accessed via www.cdfifund.gov/bea.
Authorization
Bank Enterprise Act of 1991, Community Development Banking and Financial Institutions Act of 1994, 12 U.S.C. 1834a, 4713
Who is eligible to apply/benefit from this assistance?
Applicant Eligibility
For Profit Organizations and Other Private Institution/Organizations in the form of FDIC-insured depository institutions.
Beneficiary Eligibility
Distressed communities as defined in 12 C.F.R. 1806.
Credentials/Documentation
An entity that is an Insured Depository Institution is eligible to apply for a BEA Program Award if the CDFI Fund receives a complete BEA Program Award application by the deadline set forth in the applicable NOFA. Additional eligibility requirements are set forth in the applicable NOFA.
What is the process for applying and being award this assistance?
Pre-Application Procedure
Preapplication coordination is not applicable.
Application Procedure
2 CFR 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards applies to this program. All applications must be received by the established deadline.
Award Procedure
The CDFI Fund reviews applications and makes awards based on an established awards review process, set forth in the NOFA and application materials.
Deadlines
Contact the headquarters or regional location, as appropriate for application deadlines
Approval/Disapproval Decision Time
Award approval/disapproval determinations may be made within approximately 180 days after the application deadline. The application deadline is approximately 60 days subsequent to the NOFA publication date.
Appeals
Not applicable.
Renewals
Not applicable.
How are proposals selected?
Award recipients are selected based upon a priority ranking of qualified activities as set forth in the BEA regulations, the NOFA, and application materials. Qualified activities include, in order of priority, the following: (1) Community Development Financial Institution Related Activities; (2) Distressed Community Financing Activities; and (3) Service Activities. Additional selection priority is given to Certified Community Development Financial Institution applicants.
How may assistance be used?
The CDFI Fund makes grants to selected applicants that: (1) invest in or otherwise support CDFIs; (2) increase lending and investment activities within distressed communities; and/or (3) increase the provision of certain services and technical assistance within distressed communities. An award is based upon a percentage of the increase in qualifying activities that are demonstrated by the applicant between an established baseline period and assessment period. This information is announced in the annual Notice of Funds Availability (NOFA) published in the Federal Register. Only Federal Deposit Insurance Corporation-insured banks and thrifts may apply for an award under this program.
What are the requirements after being awarded this opportunity?
Reporting
Performance Reports: Performance Monitoring is accomplished with the review of the Uses of BEA Program Award Report submitted by the award recipient. The Annual Certification and Data Collection Report (ACR) is submitted by certified organizations that receive BEA Program award funds. The ACR requires a certified organization to annually assess and report on any changes to criteria supporting its CDFI certification, as well as some additional organizational financial, and other data. The CDFI Fund will use this report to monitor the certified organization’s compliance with certification criteria and collect data to gain greater insight on the CDFI industry.
Auditing
Not applicable.
Records
Award recipients must maintain records to substantiate all award costs incurred and to assure that all performance measures are met. Records must be retained in accordance with the provisions of applicable OMB guidance and the terms of the award agreement.
Other Assistance Considerations
Formula and Matching Requirements
Statutory formula is not applicable to this assistance listing.

Matching requirements are not applicable to this assistance listing.

MOE requirements are not applicable to this assistance listing.
Length and Time Phasing of Assistance
Funds must be used within one year of executing an Award Agreement and must be used for BEA authorized activities. Method of awarding/releasing assistance: Lump.
Who do I contact about this opportunity?
Regional or Local Office
None/Not specified.
Headquarters Office
Community Development Financial Institutions Fund
1500 Pennsylvania Avenue, N.W.
Washington, DC 20220 US
bea@cdfi.treas.gov
Phone: (202) 653-0300
Website Address
http://www.cdfifund.gov
Financial Information
Account Identification
20-1881-0-1-451
Obligations
(Project Grants) FY 18$24,766,663.00; FY 19 est $25,000,000.00; FY 20 est $25,000,000.00; FY 17$22,787,205.00; FY 16$18,625,141.00; -
Range and Average of Financial Assistance
FY 2016 Range of awards $12,500 to 227,282; Average Award $182,599; FY 2017 Range of awards $15,000 to $233,387; Average Award $201,657. FY 2018 Range of awards $14,700 to $233,244; Average Award $209,887.
Regulations, Guidelines and Literature
2 C.F.R. 200, Revised Interim Rule (12 C.F.R. 1806); NOFA; and application materials.
Examples of Funded Projects
Fiscal Year 2017 Please visit the CDFI Fund website for examples of funded projects. The information can be accessed via www.cdfiund.gov/bea.