CDFI Fund Opens the FY 2023 Bank Enterprise Award Program Funding Round

Today, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) opened the fiscal year (FY) 2023 funding round for the Bank Enterprise Award Program (BEA Program). Application materials are now available on the BEA Program page of the CDFI Fund’s website in anticipation of the publication of the FY 2023 Notice of Funds Availability (NOFA) in the Federal Register on April 3, 2023. The FY 2023 BEA Program NOFA states that up to $70 million is available in awards to eligible Federal Deposit Insurance Corporation (FDIC)-insured depository institutions. Please note, the FY 2023 BEA Program round includes $35 million in funding provided under the Consolidated Appropriations Act, 2022 (Pub. L. 117-103) and $35 million in funding provided by the Consolidated Appropriations Act, 2023 (Pub. L. 117-323).

Through the BEA Program, the CDFI Fund provides monetary awards to FDIC-insured banks and thrifts that successfully demonstrate an increase in their investments in Community Development Financial Institutions (CDFIs) or in their own lending, investing, or service activities in the most economically distressed communities. Distressed Communities are defined as those where at least 30% of residents earn an income that is less than the national poverty level and where the unemployment rate is at least 1.5 times the national unemployment rate.

BEA Program Overview

The BEA Program provides formula-based grants to successful applicants for increasing Qualified Activities from one period, known as the Baseline Period, to a later period, known as the Assessment Period. There are three categories of Qualified Activities:

  • CDFI Related Activities: Equity Investments, Grants, Equity-Like Loans, Loans, Deposits, and/or Technical Assistance provided to Certified CDFIs.
  • Distressed Community Financing Activities: Direct lending or investment in the form of Affordable Housing Loans, Affordable Housing Development Loans and Project Investments, Commercial Real Estate Loans and related Project Investments, Education Loans, Home Improvement Loans, Small Business Loans and Project Investments, or Small Dollar Consumer Loans provided to residents or businesses located in Distressed Communities.
  • Service Activities: Financial products and services, such as checking accounts, savings accounts, check cashing, financial counseling, Individual Development Accounts, or youth savings accounts provided to residents of Distressed Communities; as well as opening new branches or ATM machines in Distressed Communities.

Full definitions of the Qualified Activities may be found in the BEA Program Regulations, which are posted on the CDFI Fund’s website.

What’s New This Round

The following outlines the substantive changes from the prior funding year:

  • Expanded Baseline and Assessment Period: For the FY 2023 BEA Program Funding round, the Baseline and Assessment periods will be 18 months. The CDFI Fund expects to return to annual assessment periods in future funding rounds.
  • New Application Format: The CDFI Fund updated the BEA Program Application. While the look and feel is different, no programmatic changes have been made. The new Application also features the ability for Applicants to electronically bulk upload transactions.
  • Eligibility Data: FY 2023 will be a transition period for utilizing updated BEA Program Eligibility Data. FY 2023 BEA Program Applicants may use the legacy 2011-2015 or the updated 2016-2020 American Community Survey (ACS) BEA Program Eligibility Data provided by the CDFI Fund, in order to determine whether Qualified Activities occurred in Distressed Communities during the Baseline Period and Assessment Period.


Please reference the FY 2023 BEA Program NOFA and BEA Program Application Instructions for detailed information regarding all relevant deadlines for the FY 2023 BEA Program funding round. As a highlight:

  • Part I of the FY 2023 BEA Program Application must be submitted through by 11:59 p.m. Eastern Time (ET) on May 2, 2023.
  • Part II of the FY 2023 BEA Program Application:
    • Applicants are required to enter, edit, or delete all transactions and addresses in the CDFI Fund’s Award Management Information System (AMIS) by 5:00 p.m. ET on May 30, 2023.
    • Applicants must sign and submit their electronic BEA Program Application in AMIS by 5:00 p.m. ET on June 1, 2023.

Application Materials

In addition to being available through, the FY 2023 BEA Program NOFA and BEA Program Application Instructions, as well as other important guidance materials are available on the CDFI Fund's website at under “Step 1: Apply.” The electronic FY 2023 BEA Program Application is currently available in AMIS.

Required Application Systems

All applicants must be registered and have active accounts in,, and the CDFI Fund’s AMIS to apply to the FY 2023 BEA Program funding round. Applicants should either create these accounts if they do not exist or confirm that their existing accounts are up-to-date as soon as possible in order to avoid potential application submission problems. The CDFI Fund provided an initial overview of the steps to register in,, and AMIS in a blog post released on March 1, 2023. Additional information can be located in the FY 2023 BEA Program NOFA.

The CDFI Fund Information Mapping System (CIMS) has also been updated to include the BEA Qualified Distressed Community Determination for census tracts located in US territories and possessions, and the overall Persistent Poverty County designation of these areas. Applicants should use CIMS to geocode all of their transactions.

Learn About Applying to the BEA Program

The CDFI Fund will be conducting two live webinars to provide applicants with an overview of the FY 2023 BEA Program Application and a forum to ask questions. Advance registration is not required to participate in the webinars. Please access the webinars, using the links provided below, at least five minutes prior to the beginning of the webinar.

Viewing these webinars requires the use of WebEx. To download the WebEx Event manager, please see the instructions on the WebEx Downloads webpage.

  Date and Time Conference Line Access Link
Webinar 1 April 18, 2023  
2:00-3:00 PM ET
Call: 1-800-475-0234
Passcode: 7304824

Access Webinar
Conference number: PWXW3103237
Passcode: 7304824

Webinar 2 May 9, 2023
2:00-3:00 PM ET
Call: 1-800-369-1886
Passcode: 5819577

Access Webinar
Conference number: PWXW3103238
Passcode: 5819577

An AMIS Training Manual for Applicants can be found on the website at under “Step 1: Apply.” In addition, in early April the CDFI Fund will make available a pre-recorded webinar to demonstration the electronic application submission process in AMIS.

Reasonable Accommodations

Requests for reasonable accommodations under section 504 of the Rehabilitation Act for either the webinars or conference calls should be directed to Jay Santiago at 202-653-0300 no later than 48 hours before the webinars begin.


For more information on the BEA Program, please visit the BEA Program webpage of the CDFI Fund’s website: For questions regarding the BEA Program, please contact the CDFI Fund Help Desk at (202) 653-0421 or via email at The CDFI Fund will not answer questions about the FY 2023 round of the BEA Program after 5:00 p.m. ET on May 30, 2023.

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