Opportunity Information: Apply for CDFI 2012 BEA
Apply for CDFI 2012 BEA
- The Community Development Financial Institutions in the community development sector is offering a public funding opportunity titled "FY 2012 Bank Enterprise Award Program" and is now available to receive applicants.
- Interested and eligible applicants and submit their applications by referencing the CFDA number(s): 21.021 Bank Enterprise Award Program.
- This funding opportunity was created on Jun 20, 2012 and posted on Jun 20, 2012.
- Applicants must submit their applications by Jul 27, 2012. (Agency may still review applications by suitable applicants for the remaining/unused allocated funding in 2026.)
- The funding agency has allocated a total of $18,000,000.00 to eligible and selected applicants.
- Each selected applicant is eligible to receive up to $2,000,000.00 in funding.
- The number of recipients for this funding is limited to 85 candidate(s).
- Eligible applicants include: Others (see text field entitled Additional Information on Eligibility for clarification).
- FDIC Insured Depository Institutions (banks and thrifts).
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Opportunity Summary:
The FY 2012 Bank Enterprise Award Program (BEA Program) was a discretionary grant opportunity offered by the U.S. Department of the Treasury through the Community Development Financial Institutions Fund (CDFI Fund). Its purpose was to encourage FDIC-insured depository institutions, meaning banks and thrift institutions, to deepen and expand their community development work. Instead of funding projects directly in the way some grant programs do, the BEA Program used financial incentives to reward measurable increases in activities that support community and economic development, with a particular focus on economically distressed communities across the United States.
At the core of the program was the idea of leveraging federal dollars by paying awards to institutions that increase qualified community development actions. The program specifically aimed to stimulate two broad types of activity: increased investments in CDFIs and increased lending, investment, and service activity within economically distressed communities. By providing monetary awards tied to performance, the CDFI Fund sought to motivate participating banks and thrifts to put more private-sector capital to work where it is often hardest to attract financing, thereby amplifying the reach and impact of community development initiatives.
This funding round was identified under Funding Opportunity Number CDFI 2012 BEA and carried the title "FY 2012 Bank Enterprise Award Program." It fell under the Community Development funding activity category and used the grant funding instrument type. The program was associated with CFDA number 21.021 (Bank Enterprise Award Program). There was no cost-sharing or matching requirement indicated for applicants, meaning institutions were not required to contribute a specific matching amount as a condition of eligibility, though the program itself was designed to reward increased levels of community development activity.
In terms of scale, the announcement listed an estimated total funding amount of $18,000,000, with an expected 85 awards. Individual awards were anticipated to fall within a relatively tight range, with an award floor of $1,500 and an award ceiling of $2,000,000. The opportunity was posted on June 20, 2012, and the application deadline was July 27, 2012. The archive date was July 28, 2012, indicating the funding round was time-limited and is now closed.
Eligibility was limited to FDIC-insured depository institutions (banks and thrifts). While the listing categorized eligible applicants as "Others" with a note to consult additional eligibility details, the eligibility information clarified that the intended applicants were insured depository institutions. The CDFI Fund also referenced the BEA Program webpage on its website as the source for additional details and supporting materials. For applicants or interested parties who could not access the full announcement electronically, the notice provided a Program Help Desk contact at (202) 662-6355.
Frequently Asked Questions (FAQs)
What is the FY 2012 Bank Enterprise Award Program (BEA Program)?
The FY 2012 Bank Enterprise Award Program (BEA Program) was a discretionary grant opportunity offered by the U.S. Department of the Treasury through the Community Development Financial Institutions Fund (CDFI Fund). The program was designed to encourage FDIC-insured depository institutions (banks and thrift institutions) to deepen and expand their community development activities, especially in economically distressed communities across the United States.
What was the main purpose of the BEA Program?
The main purpose was to use financial incentives to encourage and reward measurable increases in community development-related activities. Rather than directly funding projects in the typical grant-making sense, the program paid awards to institutions that demonstrated increased qualified community development actions.
How did this program differ from a traditional project grant?
Instead of providing upfront funding for a specific project, the BEA Program provided monetary awards tied to performance. In other words, it rewarded institutions for increasing certain qualified community development activities, rather than funding a proposed project plan directly.
Which federal agency administered this opportunity?
The opportunity was offered by the U.S. Department of the Treasury through the CDFI Fund (Community Development Financial Institutions Fund).
What types of activities did the BEA Program aim to stimulate?
The program specifically aimed to stimulate two broad categories of activity:
- Increased investments in Community Development Financial Institutions (CDFIs).
- Increased lending, investment, and service activity within economically distressed communities.
What was the underlying strategy or concept behind the BEA Program?
At its core, the program was intended to leverage federal dollars by motivating banks and thrifts to increase private-sector capital and services in places where financing can be difficult to attract. The awards were tied to measurable increases in qualified community development actions, encouraging institutions to expand their impact.
What was the Funding Opportunity Number for this round?
The Funding Opportunity Number was CDFI 2012 BEA.
What was the official title of the opportunity?
The official title was "FY 2012 Bank Enterprise Award Program."
What funding category and instrument type were used?
The opportunity fell under the Community Development funding activity category and used a grant funding instrument type.
What CFDA number was associated with this program?
The program was associated with CFDA number 21.021 (Bank Enterprise Award Program).
Who was eligible to apply?
Eligibility was limited to FDIC-insured depository institutions, meaning banks and thrifts. While the listing categorized eligible applicants as "Others" and advised consulting additional eligibility details, the eligibility description specified that the intended applicants were insured depository institutions.
Was cost-sharing or matching required?
No cost-sharing or matching requirement was indicated for applicants. Institutions were not required to contribute a specific matching amount as a condition of eligibility, although the program itself was designed to reward increased levels of community development activity.
How much total funding was expected to be available?
The estimated total funding amount listed for this round was $18,000,000.
How many awards were expected?
The announcement expected approximately 85 awards.
What were the minimum and maximum award amounts?
Individual awards were anticipated to fall within a set range, with an award floor of $1,500 and an award ceiling of $2,000,000.
When was the opportunity posted?
The opportunity was posted on June 20, 2012.
What was the application deadline?
The application deadline was July 27, 2012.
Is this funding opportunity still open?
No. The archive date was July 28, 2012, indicating that this FY 2012 funding round was time-limited and is now closed.
Did the program focus on any particular geographic area?
Yes. The program emphasized community and economic development activities in economically distressed communities across the United States.
Where could applicants find additional details and supporting materials?
The CDFI Fund referenced the BEA Program webpage on its website as the source for additional details and supporting materials.
Was there a contact number for help if the full announcement could not be accessed electronically?
Yes. The notice provided a Program Help Desk contact number: (202) 662-6355.
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