Bank Enterprise Award (BEA) Program
Funds deposit-insured banks and credit unions that increase lending support in distressed areas.
The Bank Enterprise Award Program provides monetary awards to FDIC-insured depository institutions (banks and thrifts) that demonstrate a year-over-year increase in qualified lending, investment, and service activities targeting CDFIs or BEA Distressed Communities (defined as areas with ≥30% poverty rate and unemployment ≥1.5x the national average). Award size scales with the measured increase in qualifying activity. Qualified activities span three categories: CDFI-related activities (equity investments, grants, loans, deposits, TA to CDFIs); Distressed Community Financing Activities (mortgages, housing development, small business, small-dollar consumer, commercial real estate); and Service Activities (checking/savings accounts, financial counseling, new branches, individual development accounts). Award funds must be reinvested in eligible activities.
No upcoming rounds verified. Cadence: Annual.