Bank Enterprise Award Program
Active
- Assistance listing
- 21.021
- Agency
-
Community Development Financial Institutions Fund
Department of the Treasury
- Grant awards
- 1,746 $435,818,923 in federal obligations
Program facts
- Also known as
- BEA Program
- Assistance type
-
- Project Grant
- Treasury account
-
- 20-1881-0-1-451
- More information
Program details come from SAM.gov Assistance Listings. Updated . Grant award figures come from USAspending.gov.
About this program
The Department of the Treasury Community Development Financial Institutions Fund (CDFI Fund) distributes awards under the Bank Enterprise Award Program (CFDA 21.021) to FDIC-insured depository institutions demonstrating increased investments and support to certified CDFIs and increased lending, investment, or service activities in economically distressed communities, with the most recent award on September 19, 2024.
The program has maintained consistent activity since 2006, disbursing awards annually at a stable cadence: 171 awards in 2024, 184 in 2023, 158 in 2022, 138 in 2020, and 113 in 2019. Total federal dollars obligated across 1,746 awards reaches $435.8 million, with minimal non-federal cost-share contribution. The program is exclusively funded by the CDFI Fund and distributes awards entirely as Project Grants. Recent award values typically range from $17,024 to $280,369, reflecting formula-based calculations tied to qualified activities at individual banks.
Qualified activities are prioritized in order: CDFI-related activities (equity investments, equity-like loans, grants, stock purchases, loans, deposits, and other forms of assistance to certified CDFIs); distressed community financing activities (loans, investments, and service-related activities in economically distressed communities as defined in 12 C.F.R. 1806); and service activities. Certified CDFI applicants receive additional selection priority within each category. Recipients must use funds within one year of executing an Award Agreement and maintain records substantiating all costs and performance measures per applicable OMB guidance.
The most recent posted opportunity was CDFI-2024-BEA, issued April 26, 2024, with a due date of May 28, 2024. The program follows an annual application cycle, typically opening in late spring. Eligibility is limited to FDIC-insured depository institutions (banks and thrifts). Award determinations are made approximately 180 days after the application deadline. No current open solicitation is visible in the source material; prospective applicants should monitor the CDFI Fund website for the next cycle announcement, which historically occurs in the spring months.
Objective and description
- Objective
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 (C
- Description
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.
Eligibility
- Applicant eligibility
Profit organization, Other private institutions/organizations 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.
- Uses of assistance
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 NOFA published in the Federal Register. Only FDIC-insured banks and thrifts may apply for an Award under this program.
- Length and time phasing of assistance
Funds must be used within one year of executing an Award Agreement and must be used for BEA Program authorized activities set forth in the applicable NOFA.
How to apply
- Criteria for selecting proposals
Award Recipients are selected based upon a priority ranking of qualified activities as set forth in the BEA Program regulations, the NOFA, and application materials. Qualified activities include, in order of priority, the following: (1) CDFI Related Activities; (2) Distressed Community Financing Activities; and (3) Service Activities. Additional selection priority is given to Certified CDFI applicants within each category.
- 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.
- Time to approval or disapproval
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.
Grant opportunities
| Opportunity | Status | Posted | Applications due |
|---|---|---|---|
| FY 2024 Bank Enterprise Award Program Application | Closed | ||
| FY 2019 Bank Enterprise Award Program Application | Closed | ||
| FY 2018 Bank Enterprise Award Program Application | Closed | ||
| FY 2017 Bank Enterprise Award Program Application | Closed | ||
| FY 2016 Bank Enterprise Award Program Application | Closed | ||
| FY 2015 Bank Enterprise Award Program | Closed |
Grant awards
Latest 10 of 1,746 listed here. See the rest on GovTribe.
Top recipients by federal obligations
| Rank | Recipient | Federal obligations | Share |
|---|---|---|---|
| 1 | Sunrise Banks National Association | $6,405,497 | 1% |
| 2 | Central Bank Of Kansas City | $6,185,233 | 1% |
| 3 | International Bank Of Chicago | $6,019,241 | 1% |
| 4 | National Association City First Bank | $5,656,778 | 1% |
| 5 | Liberty Bank And Trust Company | $5,631,028 | 1% |
| 6 | Mission Valley Bank | $5,623,234 | 1% |
| 7 | Community Bank Of The Bay | $5,435,099 | 1% |
| 8 | Pacific Global Bank | $5,417,956 | 1% |
| 9 | First American International Corp. | $5,139,139 | 1% |
| 10 | Pan American Bank & Trust | $4,518,052 | 1% |
10 of 394 recipients listed here. See the rest on GovTribe.
Federal obligations by fiscal year
| Fiscal year | Federal obligations |
|---|---|
| FY2024 | $40,000,069 |
| FY2023 | $69,999,897 |
| FY2022 | $25,722,965 |
| FY2021 | $105,000 |
| FY2020 | $24,816,377 |
| FY2019 | $49,999,920 |
| FY2018 | $22,787,205 |
| FY2017 | $18,837,844 |
| FY2015 | $18,662,536 |
| FY2014 | $34,917,228 |
| FY2013 | $17,969,543 |
| FY2012 | $21,956,000 |
| FY2010 | $24,407,454 |
| FY2009 | $22,332,326 |
| FY2008 | $20,101,901 |
| FY2007 | $11,395,203 |
| FY2006 | $11,807,455 |
Show all 17
Quick answers
What is Assistance Listing 21.021?
Assistance Listing 21.021 is Bank Enterprise Award Program, a federal grant program run by Community Development Financial Institutions Fund (Department of the Treasury).
What is the CFDA number for Bank Enterprise Award Program?
Its CFDA number is 21.021: Assistance Listing numbers were called CFDA numbers before 2018.
How much funding has Assistance Listing 21.021 awarded?
1,746 grant awards under 21.021 have obligated $435,818,923 in federal funds to 394 recipients.
Who receives the most funding from 21.021?
The recipients obligated the most under Bank Enterprise Award Program are Sunrise Banks National Association ($6,405,497), Central Bank Of Kansas City ($6,185,233) and International Bank Of Chicago ($6,019,241).
Are there open grant opportunities under 21.021?
No opportunity listed under 21.021 is open now. The latest, FY 2024 Bank Enterprise Award Program Application, was posted on April 26, 2024.
On GovTribe
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