LAG Banks Earn 30% of FY2019 BEA Program Allocation
Updated: Oct 1, 2019
The CDFI Fund announced its FY 2019 Bank Enterprise Awards Tuesday, September 17, 2019 awarding $25.2 million to 113/135 CDFI FDIC-Insured Depository Institutions. 94 banks received the max award of $245,547 and the average award was $223,681. In addition, 81 BEA Program award recipients have committed to deploying approximately $3.7 million in appropriated funds in Persistent Poverty Counties.
The Logue Advisory Group clients were awarded a total of $7.4 million in awards, approximately 30% of all FY2019 BEA Awards nationally and a 100% application success rate.
Contact the Logue Advisory Group today for a complimentary CDFI Suitability Analysis to see if your FDIC-Insured Depository Institution has could become a CDFI and benefit from this program in the future.