(a) Under the Bank Enterprise Award Program, the Fund makes awards to selected Applicants that:
(1) Increase their investments in or other support of Community Development Financial Institutions;
(2) Increase lending and investment activities within Distressed Communities; or
(3) Increase the provision of certain services and assistance.
(b) Distressed Communities must meet minimum geographic, poverty and unemployment criteria.
(c) Applicants are selected to participate in the program through a competitive application process. Awards are based on increases in Qualified Activities that are carried out by the Applicant during an Assessment Period. Bank Enterprise Awards are distributed after successful completion of projected Qualified Activities and must be used for BEA Qualified Activities. All awards shall be made subject to the availability of funding.
Title 12 published on 2015-01-01.
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