Last week, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced the fiscal year (FY) 2023 funding round for the Bank Enterprise Award (BEA) Program. Through the BEA Program, the CDFI Fund provides monetary awards (up to $70 million available) to FDIC-insured banks that successfully demonstrate an increase in investment to CDFI’s or in their own lending, investing or service activities in the most economically distressed communities. Parts I and II of the application are due on May 2 and May 30 respectively. You may access the application by clicking here.
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