Opportunity Information: Apply for CDFI 2023 BEA
The FY 2023 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). It is designed to support FDIC-insured financial institutions, meaning eligible banks and thrifts, that are actively involved in community and economic development. Rather than funding a new standalone project in the traditional sense, the BEA Program functions as a performance-based incentive: it provides monetary awards to insured depository institutions that increase specific types of community development activity over a defined period, especially activity that benefits economically distressed communities.
At its core, the BEA Program aims to push more private-sector capital into places that need it most by rewarding institutions for measurable increases in qualifying actions. The program targets two main pathways. First, it encourages banks and thrifts to increase their investments in CDFIs, which are specialized mission-driven financial institutions that serve underserved markets and borrowers. Second, it rewards increases in qualified lending, investment, and service activities that occur within economically distressed communities. In practice, this structure is meant to amplify the impact of Treasury dollars: the award is intended to leverage and reinforce expanded community development behavior, thereby putting more capital to work in distressed areas across the country.
The opportunity is listed under Funding Opportunity Number "CDFI 2023 BEA" and is categorized as a grant with the funding activity focus in community development (CFDA/Assistance Listing number 21.021). The posting was created on March 31, 2023, with an original application deadline of May 2, 2023. Treasury anticipated making around 160 awards under this round, and the maximum award amount (award ceiling) was stated as $1,000,000. Eligibility is broadly summarized as "Others," with the key practical qualifier being that applicants are FDIC-insured depository institutions; additional eligibility details were referenced as being available in the full application materials under an "Additional Information on Eligibility" section.
Overall, the FY 2023 BEA Program is best understood as a federal incentive program for community development performance. It is built to complement existing community development work already happening at insured banks and thrifts by providing a financial reward when an institution demonstrably expands its investments in CDFIs or increases qualified community development lending, investing, and services in economically distressed communities. The intent is to strengthen local credit and investment flows, broaden access to responsible financial products and services, and support economic development outcomes in areas that face persistent disinvestment.Apply for CDFI 2023 BEA
- The US Department of the Treasury, Community Development Financial Institutions in the community development sector is offering a public funding opportunity titled "FY 2023 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 Mar 31, 2023.
- Applicants must submit their applications by May 02, 2023. (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 160 candidate(s).
- Eligible applicants include: Others (see text field entitled Additional Information on Eligibility for clarification).
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Applicants who have applied for this opportunity (CDFI 2023 BEA) also looked into and applied for these:
| Funding Opportunity |
|---|
| Ambassador's Special Self-Help Fund Apply for DOS ANGOLA SSH FY23 01 Funding Number: DOS ANGOLA SSH FY23 01 Agency: Department of State, U.S. Mission to Angola Category: Community Development Funding Amount: $10,000 |
| Youth Homeless Demonstration Program Apply for FR 6700 N 35 Funding Number: FR 6700 N 35 Agency: US Department of Housing and Urban Development Category: Community Development Funding Amount: $15,000,000 |
| U.S. Ambassador's Special Self-Help Fund (SSH) Apply for SSH 00 FY23 01 Funding Number: SSH 00 FY23 01 Agency: Department of State, U.S. Mission to Benin Category: Community Development Funding Amount: $10,000 |
| PGO Request for SSH Proposals Apply for PGO MRT FY2022 Funding Number: PGO MRT FY2022 Agency: Department of State, U.S. Mission to Mauritania Category: Community Development Funding Amount: $10,000 |
| Fiscal Year (FY) 2022 Case Management Pilot Program (CMPP) Apply for DHS 23 GPD 102 00 01 Funding Number: DHS 23 GPD 102 00 01 Agency: Department of Homeland Security, Department of Homeland Security - FEMA Category: Community Development Funding Amount: $15,000,000 |
| SMALL & MIGHTY GRANTS PROGRAM Apply for PDS COL 2023 SMG Funding Number: PDS COL 2023 SMG Agency: Department of State, U.S. Mission to Sri Lanka Category: Community Development Funding Amount: $250,000 |
| Affordable Connectivity Outreach Grant Program – Tribal Competitive Outreach Program (TCOP) Round 2 Apply for FCC ACOGP 23 004 Funding Number: FCC ACOGP 23 004 Agency: Federal Communications Commission Category: Community Development Funding Amount: $400,000 |
| Affordable Connectivity Outreach Grant Program – National Competitive Outreach Program (NCOP) Round 2 Apply for FCC ACOGP 23 003 Funding Number: FCC ACOGP 23 003 Agency: Federal Communications Commission Category: Community Development Funding Amount: $400,000 |
| Inclusive Development and Equitable Assistance (IDEA) LWA Apply for 7200AA23RFA00013 Funding Number: 7200AA23RFA00013 Agency: Agency for International Development Category: Community Development Funding Amount: $99,000,000 |
| Local Grant: University Leadership and Engagement Apply for TUNIS06082024 Funding Number: TUNIS06082024 Agency: Department of State, Assistance Coordination Category: Community Development Funding Amount: $500,000 |
| FY 2023 Citizenship and Integration Grant Program: Citizenship Instruction and Naturalization Application Services (CINAS) Apply for CI CET 23 002 Funding Number: CI CET 23 002 Agency: Department of Homeland Security, Office of Procurement Operations - Grants Division Category: Community Development Funding Amount: $300,000 |
| FY 2023 Citizenship and Integration Grant Program: Innovations in Citizenship Preparation Apply for CI CET 23 004 Funding Number: CI CET 23 004 Agency: Department of Homeland Security, Office of Procurement Operations - Grants Division Category: Community Development Funding Amount: $250,000 |
| FY 2023 Citizenship and Integration Grant Program: Regional Hub Program Apply for CI CET 23 001 Funding Number: CI CET 23 001 Agency: Department of Homeland Security, Office of Procurement Operations - Grants Division Category: Community Development Funding Amount: $1,000,000 |
| FY 2023 Citizenship and Integration Grant Program: Community and Regional Integration Network Grant (CARING) Apply for CI CET 23 003 Funding Number: CI CET 23 003 Agency: Department of Homeland Security, Office of Procurement Operations - Grants Division Category: Community Development Funding Amount: $300,000 |
| FY 2023 Citizenship and Integration Grant Program: Citizenship Instruction and Naturalization Application Services (CINAS) Apply for DHS 23 CIS 010 002 Funding Number: DHS 23 CIS 010 002 Agency: Department of Homeland Security, Office of Procurement Operations - Grants Division Category: Community Development Funding Amount: $300,000 |
| FY 2023 Citizenship and Integration Grant Program: Innovations in Citizenship Preparation Apply for DHS 23 CIS 010 004 Funding Number: DHS 23 CIS 010 004 Agency: Department of Homeland Security, Office of Procurement Operations - Grants Division Category: Community Development Funding Amount: $250,000 |
| FY 2023 Citizenship and Integration Grant Program: Regional Hub Program Apply for DHS 23 CIS 010 001 Funding Number: DHS 23 CIS 010 001 Agency: Department of Homeland Security, Office of Procurement Operations - Grants Division Category: Community Development Funding Amount: $1,000,000 |
| FY 2023 Citizenship and Integration Grant Program: Community and Regional Integration Network Grant (CARING) Apply for DHS 23 CIS 010 003 Funding Number: DHS 23 CIS 010 003 Agency: Department of Homeland Security, Office of Procurement Operations - Grants Division Category: Community Development Funding Amount: $300,000 |
| Ambassador’s Special Self-Help Fund Apply for DOS COD SSHF FY22 001 Funding Number: DOS COD SSHF FY22 001 Agency: Department of State, U.S. Mission to the Democratic Republic of Congo Category: Community Development Funding Amount: $16,000 |
| Preparing the Next Generation of Leaders - Promoting Democratic Values and Inclusion Apply for STP ARDF FY23 01 Funding Number: STP ARDF FY23 01 Agency: Department of State, U.S. Mission to Angola Category: Community Development Funding Amount: $130,000 |
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