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Kevin Hart and Gran Coramino Tequila champion Black and Latinx businesses

todayNovember 29, 2023

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Empowering Entrepreneurship: In an inspiring move, Gran Coramino® Tequila, co-founded by comedian and entrepreneur Kevin Hart and 11th-generation tequila maker Juan Domingo Beckmann, has launched The Coramino Fund. In partnership with the Local Initiatives Support Corporation (LISC), this initiative is designed to support Black and Latinx entrepreneurs across the U.S. with $10,000 grants and valuable learning opportunities.

The Coramino Fund: A Beacon for Diverse Entrepreneurs

The Coramino Fund, in its second year, has already made a significant impact. In 2023, it supported 50 entrepreneurs from various states, including Monica Nava from Chemn Cafe in Elgin, TX; Kendra Payne from The Herbal Scoop in Narrowsburg, NY; and Martin Boyd Jr. from Redemption Body Wellness in Philadelphia, PA. These grants are more than just financial aid; they catalyze business growth and community empowerment.

A Unique Approach to Corporate Social Responsibility

Gran Coramino Tequila sets a remarkable example of corporate social responsibility by donating $1 for every bottle sold. This contribution supports Black and Latinx entrepreneurs and small business owners in the U.S. and Mexico, fostering economic growth and diversity in business. Entrepreneurs can apply for the next round of funding at lisc.org/grancoramino until December 5, 2023, with a new round of entrepreneurship programming set to launch in Jalisco, Mexico, in early 2024.

Breaking Barriers and Building Legacies

Kevin Hart, co-founder of Gran Coramino Tequila, emphasizes that The Coramino Fund is about “building a legacy of economic empowerment and generational success.” The Fund has already had a transformative impact on its recipients. Martin Boyd Jr., one of the grantees, highlighted how the grant enabled him to expand his programs and hire new staff, particularly benefiting youth and elders in his community.

Eligibility guidelines

The Coramino Fund is open to Black and Latinx-owned small businesses nationwide. Small businesses are eligible to apply for a grant if they meet the following criteria:

  • Based in the United States
  • Owned by an individual 21 years of age or older (who must be the applicant)
  • In operation for 5 years or less
  • Have a business bank account
  • Have no more than 3 locations and 30 employees
  • Business owner(s) must not be an equity holder, owner, partner, member, director, manager, officer, employee, consultant, or agent of any beverage alcohol retail licensee, or has any other interest, direct or indirect, in any Retail Licensee. As a manufacturer of a distilled spirit, Gran Coramino® Tequila is legally prohibited from providing monetary funds to licensed accounts.

LISC: A Strong Partner in Community Development

LISC, as the U.S. impact partner, plays a crucial role in this initiative. As one of the country’s largest community development organizations, LISC has a long history of forging vibrant, resilient communities. LISC CEO Michael T. Pugh noted, “The Coramino Fund is a transformative force for aspiring entrepreneurs,” reiterating their commitment to leveling the playing field for under-resourced business owners.

Gran Coramino Tequila: A Blend of Passion and Expertise

Gran Coramino was founded in 2022 by Hart and Beckmann, combining Hart’s passion for tequila with Beckmann’s deep expertise in spirit making. The brand launched with Gran Coramino Reposado Cristalino and expanded with an Añejo expression in 2022, characterized by its smooth flavor and distinctive finish.

Conclusion

The Coramino Fund represents a significant step towards economic empowerment and diversity in entrepreneurship. By supporting underrepresented entrepreneurs, Gran Coramino Tequila and LISC are not only contributing to the success of individual businesses but also enriching communities and fostering a more inclusive economy. As applications for the next round of grants remain open, this initiative stands as a beacon of hope and opportunity for aspiring Black and Latinx entrepreneurs across the nation.

Written by: HYFIN

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