The Bank Enterprise Award (BEA) is another CDFI program which rewards those banks that are working in or with distressed communities throughout the country. If you are a CDFI bank, or a bank working with a CDFI bank, you most likely can receive a BEA. At CDAA, we know how to help you maximize that award now and in the future.   Last year the maximum award was a cash grant of $415,000.  Many banks received this maximum amount. Using those activities you completed last calendar year, CDAA can leverage those transactions to maximize the award that you will receive this year.  CDAA can also show your bank what to do to now and in the future to ensure you maximize your award going forward.   CDAA has numerous successes helping banks get the most benefit from BEA. We fully know the ins and outs of the application process, and your bottom line will reap the rewards.   Some of our successes include: ● Assisted more than 80 banks in applying for BEA and ensuring that each received the maximum award possible ● Led campaign that increased one bank's deposit base by $7 million, using BEA as an incentive to attract new deposits ● One bank made a very common mistake on their application.  We corrected the error, increasing their award from $30,000 to $500,000 If you are an FDIC-insured bank, BEA can bring you cash awards while helping with your next CRA exam. If you are a CDFI bank, BEA can make significant impacts on your bottom line.   To learn more about applying for BEA or to ensure that your bank gets the most benefit from the BEA program, call us or send us an email from our Contact page.  We look forward to working with you.