Bank Enterprise Award Program | |
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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 deadline. |
Eligibility | Qualified Activities for Eligibility*
*Unlike other CDFI Fund programs, the BEA Program provides awards for increasing past activities in distressed communities and not for planned or proposed activities. Any FDIC-insured depository institution is eligible to apply for a BEA Program award. |
Funds Available | $25.2 million |
Range of Award | FY 2018 range of awards: $14,700 to $233,244 |
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. |
How May Funds Be Used? | (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. |