FY 2026 Bank Enterprise Award Program Application

The Bank Enterprise Award Program is administered by the Community Development Financial Institutions Fund, which operates under the U.S. Department of the Treasury. The CDFI Fund was established to expand the availability of credit, investment capital, and financial services in underserved and economically distressed communities across the United States. Through this program, the funder incentivizes financial institutions to deepen their engagement in community development by rewarding measurable increases in targeted financial activities that benefit low income and high need areas. The purpose of the program is to encourage FDIC insured depository institutions, including banks and thrifts, to increase their investments in certified Community Development Financial Institutions and to expand their own direct financing and service activities within distressed communities. These communities are defined by economic indicators such as high poverty rates and elevated unemployment levels relative to national averages. By aligning awards with demonstrated increases in qualified activities, the program seeks to leverage federal funding to stimulate additional private capital flows into underserved markets. Funding is awarded as monetary grants that correspond to the scale of an applicant's increase in qualified activities over a defined assessment period. These activities include equity investments, loans, deposits, grants, and technical assistance provided to certified CDFIs, as well as direct lending and investment activities such as affordable housing development, small business financing, and consumer financial products in distressed areas. Service activities, including expanding access to banking services and financial counseling, are also eligible. Award funds must be reinvested into future eligible activities, reinforcing a cycle of continued community investment. There is no cost sharing or matching requirement associated with this program. However, applicants must demonstrate quantifiable increases in qualified activities compared to a prior reporting period. Award prioritization is based on factors such as the type of activity performed, the certification status of the institution, and the size of the applicant institution. Larger increases in qualifying activities result in higher potential award amounts, within the defined funding range. Eligibility is limited to FDIC insured depository institutions, including banks and thrifts. These entities must be able to document their qualified activities and demonstrate compliance with program requirements. The application process requires submission through the designated federal grants platform and includes documentation of financial activities, performance data, and supporting materials that validate increases in eligible investments or services. While specific application components are not fully detailed in the provided material, applicants are expected to follow standard federal grant submission procedures. The application timeline indicates that the funding opportunity opens on June 30, 2026, with a closing date of July 24, 2026. Some references indicate a similar deadline at the end of July, suggesting a consistent annual cycle. Following submission, applications undergo evaluation based on the scale and impact of reported activities, and award announcements are made at a later date to be determined. The program operates on a recurring basis, with annual funding rounds expected. For additional information or assistance with the application process, applicants may contact the CDFI Fund Help Desk by phone. The program is designed to create measurable economic impact by increasing access to capital, supporting job creation, expanding housing opportunities, and improving financial service availability in distressed communities nationwide.