Award Program 2013 - The Bank Enterprise: to Supporting Community and Economic Development Activities
Tuesday, June 4, 2013
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Closing Date: July 12,2013.
The Bank Enterprise Award Program
(BEA Program) was created in 1994 to support FDIC-insured financial
institutions around the country that are dedicated to financing and supporting
community and economic development activities. The BEA Program complements the
community development activities of insured depository institutions (i.e.,
banks and thrifts) by providing financial incentives to expand investments in
CDFIs and to increase lending, investment, and service activities within
economically distressed communities. Providing monetary awards for increasing
community development activities leverages CDFI Fund dollars and puts more
capital to work in distressed communities throughout the nation.
The BEA Program provides
formula-based grants to applicants for increasing qualified activities from a
Baseline Period to an Assessment Period. Awards are based on activities within
three categories:
1. CDFI Related Activities: Equity
Investments, Equity-like Loans, Grants, Loans, Deposits/Shares, and Technical
Assistance to Qualified CDFI Partners.
2. Distressed Community Financing Activities: Affordable
Home Mortgage Loans, Affordable Housing Development Loans, Small Business
Loans, Home Improvement Loans, Education Loans, and Commercial Real Estate
Loans.
3.
Service Activities: Deposits, Community
Services, and Financial Services.
These terms are defined either
in the BEA Program Regulations (12 C.F.R. 1806) or in the applicable BEA Notice
of Funding Availability (NOFA) for each funding round.
All depository institutions
insured by the Federal Deposit Insurance Corporation (FDIC) are eligible to
apply for a BEA Program award.
Source and More Informations, Click this Link.
Categories:
Award,
Grant Program
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