📄 Summary
The CDFI Fund promotes economic revitalization and community development through investment in and assistance to CDFIs. The BEA Program awards formula-based grants to FDIC-insured banks or thrifts that have, during a specified period, (1) increased their levels of loans, investments, and Service Activities to residents and businesses in economically Distressed Communities; and/or (2) increased their financial assistance and Technical Assistance to Certified CDFIs through equity investments, equity-like loans, grants, stock purchases, loans, deposits, and other forms of assistance. Capitalized terms in this NOFA are defined in the Authorizing Statute, the Interim Rule, this NOFA, the Application, Application materials, or the Uniform Administrative Requirements.
