Opportunity Information: Apply for CDFI 2020 BEA
The FY 2020 Bank Enterprise Award (BEA) Program Application is a discretionary federal grant opportunity run by the U.S. Department of the Treasury through the Community Development Financial Institutions Fund (CDFI Fund). The program is designed to encourage FDIC-insured depository institutions, such as banks and thrifts, to deepen their community development work by rewarding measurable increases in activities that benefit economically distressed communities. In plain terms, the BEA Program uses cash awards as an incentive: if an eligible bank increases certain qualifying community development actions compared with a prior period, Treasury may provide an award that both recognizes that effort and helps the institution scale it further.
The core purpose of the opportunity is to leverage federal dollars to push more private-sector capital into places that need it most. The BEA Program does that in two main ways. First, it rewards increased investments in CDFIs, which are specialized financial institutions focused on serving underserved markets. Second, it rewards increased qualified lending, investment, and service activities that occur within economically distressed communities. By tying awards to increases in these activities, the program aims to expand access to credit, improve community facilities and services, and strengthen local economies through sustained financing and support.
This particular funding notice is titled "FY 2020 Bank Enterprise Award Program Application" and is identified by Funding Opportunity Number "CDFI 2020 BEA." The assistance listing reference is CFDA 21.021, and the funding activity category is community development. The instrument type is a grant, and the opportunity category is discretionary, meaning awards are made competitively based on the program rules and the applicant meeting the stated requirements.
In terms of scale and competitiveness, the notice lists an award ceiling of $1,000,000 per award and anticipates making about 120 awards. While the eligible applicants field is summarized as "Others (see text field entitled Additional Information on Eligibility for clarification)," the program description makes clear the intended applicant pool is FDIC-insured financial institutions nationwide that are engaged in community and economic development activities, particularly those that can demonstrate increased qualifying investments in CDFIs and/or increased qualified activities in distressed communities.
Timing details in the announcement indicate the opportunity was created on April 2, 2020, with an original application closing date of May 4, 2020. Overall, the grant opportunity is best understood as a performance-based incentive program: it does not simply fund a proposed project plan, but instead provides monetary awards to insured banks and thrifts that can document and substantiate growth in eligible community development financing and services, thereby multiplying the impact of federal funds by attracting and deploying additional capital into distressed areas across the country.Apply for CDFI 2020 BEA
- The US Department of the Treasury, Community Development Financial Institutions in the community development sector is offering a public funding opportunity titled "FY 2020 Bank Enterprise Award Program Application" and is now available to receive applicants.
- Interested and eligible applicants and submit their applications by referencing the CFDA number(s): 21.021.
- This funding opportunity was created on Apr 02, 2020.
- Applicants must submit their applications by May 04, 2020. (Agency may still review applications by suitable applicants for the remaining/unused allocated funding in 2026.)
- Each selected applicant is eligible to receive up to $1,000,000.00 in funding.
- The number of recipients for this funding is limited to 120 candidate(s).
- Eligible applicants include: Others (see text field entitled Additional Information on Eligibility for clarification).
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FY 2020 Bank Enterprise Award (BEA) Program Application (CDFI 2020 BEA) - FAQs
What is the FY 2020 Bank Enterprise Award (BEA) Program?
The FY 2020 Bank Enterprise Award (BEA) Program Application is a discretionary federal grant opportunity administered by the U.S. Department of the Treasury through the Community Development Financial Institutions Fund (CDFI Fund). It provides cash awards to encourage FDIC-insured depository institutions (such as banks and thrifts) to expand measurable community development activities that benefit economically distressed communities.
Who runs this grant opportunity?
The opportunity is run by the U.S. Department of the Treasury through the CDFI Fund (Community Development Financial Institutions Fund).
What is the main purpose of the BEA Program?
The core purpose is to leverage federal dollars to increase private-sector capital flowing into economically distressed communities. The program rewards eligible institutions for increasing certain qualifying community development actions compared with a prior period, helping recognize and scale that work.
How does the BEA Program incentivize community development?
The BEA Program uses cash awards as an incentive. If an eligible FDIC-insured institution can demonstrate increased qualifying community development activities versus a prior period, Treasury may provide an award that both recognizes the increased activity and supports further expansion.
What kinds of activities does the BEA Program reward?
Based on the description provided, the BEA Program rewards increased activity in two main areas: (1) increased investments in CDFIs, and (2) increased qualified lending, investment, and service activities that occur within economically distressed communities.
What are CDFIs in the context of this program?
CDFIs (Community Development Financial Institutions) are specialized financial institutions focused on serving underserved markets. The BEA Program specifically rewards increased investments in these institutions as one pathway to expanding community development impact.
What are "economically distressed communities" as described in the notice?
The notice describes economically distressed communities as places the program aims to support by expanding access to credit, improving community facilities and services, and strengthening local economies through sustained financing and support. The specific definition or criteria are not provided in the information shown here.
Is this a project-based grant or a performance-based award?
It is best understood as a performance-based incentive program rather than a traditional project proposal grant. It does not simply fund a proposed project plan; instead, it provides monetary awards to insured banks and thrifts that can document and substantiate growth in eligible community development financing and services compared with a prior period.
What is the official title of this funding notice?
The official title is "FY 2020 Bank Enterprise Award Program Application."
What is the Funding Opportunity Number?
The Funding Opportunity Number is CDFI 2020 BEA.
What is the Assistance Listing (CFDA) number for this opportunity?
The assistance listing reference is CFDA 21.021.
What is the funding activity category?
The funding activity category is community development.
What type of funding instrument is used?
The instrument type is a grant.
Is this opportunity competitive?
Yes. The opportunity category is discretionary, which means awards are made competitively based on program rules and the applicant meeting stated requirements.
Who is eligible to apply based on the description provided?
The description indicates the intended applicant pool is FDIC-insured depository institutions nationwide, such as banks and thrifts, that are engaged in community and economic development activities and can demonstrate increased qualifying investments in CDFIs and/or increased qualified activities in economically distressed communities.
The eligibility field says "Others" - what does that mean here?
The notice summary lists eligible applicants as "Others (see text field entitled Additional Information on Eligibility for clarification)." However, the program description itself emphasizes FDIC-insured depository institutions (banks and thrifts) as the intended applicants.
What is the maximum award amount?
The listed award ceiling is $1,000,000 per award.
How many awards does the program expect to make?
The notice anticipates making about 120 awards.
When was this opportunity created?
The opportunity was created on April 2, 2020.
What was the application closing date?
The original application closing date listed is May 4, 2020.
What outcomes is the program aiming for in distressed communities?
According to the description, the program aims to expand access to credit, improve community facilities and services, and strengthen local economies by encouraging sustained financing and support in economically distressed communities.
What does it mean that awards are tied to "measurable increases"?
It means the BEA Program is designed to reward documented growth in eligible community development activities compared with a prior period. The specific measurement methodology is not provided in the information shown here, but the concept is that increases must be quantifiable and substantiated.
Does the program focus only on CDFI investments?
No. The description indicates two main focus areas: rewarding increased investments in CDFIs and rewarding increased qualified lending, investment, and service activities in economically distressed communities.
Is this opportunity limited to a specific geography?
The description indicates the intended applicant pool is FDIC-insured institutions nationwide, suggesting a national scope rather than a single state or region.
What is the plain-language summary of how a bank might earn an award?
If an eligible FDIC-insured bank or thrift increases certain qualifying community development activities (such as CDFI investments and/or qualified lending, investment, and service activities in economically distressed communities) compared with a prior period, it may receive a cash award from Treasury through the CDFI Fund.
What makes this a discretionary federal grant opportunity?
It is labeled discretionary, which indicates awards are not automatic and are made competitively according to program rules and applicant eligibility/requirements.
What is meant by "leveraging federal dollars" in this program?
In this context, leveraging federal dollars means using federal cash awards to encourage more private-sector capital (from banks and thrifts) to be directed into economically distressed communities, thereby multiplying the overall impact beyond the federal award itself.
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