Bank Enterprise Awards Program

Bank Enterprise Awards Program

Program Name: Bank Enterprise Awards Program

Resource Type: Federal

State: USA

Agency: Program Source: Loan

Description: 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. Small business loans and commercial real estate loans are options for participating institutional lenders within these communities.