hart’s-tequila-brand-awarding-$500k-in-grants-to-black,-latinx-small-business-owners

Hart’s Tequila Brand Awarding $500K In Grants To Black, Latinx Small Business Owners

2023 Coramino Fund grantees (from left): Monica Nava, Chemn Cafe, Elgin, Texas; Kendra Payne, The Herbal Scoop, Narrowsburg, N.Y.; Martin Boyd Jr., Redemption Body Wellness, Philadelphia, Pa. – GRAN CORAMINO

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Gran Coramino, a premium tequila brand launched by actor-comedian Kevin Hart and Jersey City-based Proximo Spirits founder Juan Domingo Beckmann, is offering $500,000 in grants to help Black and Latinx small business owners.

Founded in partnership with national nonprofit Local Initiatives Support Corp. (LISC), The Coramino Fund, which is named after the Gran Coramino label, aims to address wealth and opportunity gaps that have long affected diverse entrepreneurs across the U.S. and Mexico.

Now in its second year, this cycle will support 50 small business owners with $10,000 grants, as well as provide learning opportunities. Applications will be accepted through Dec. 5 and recipients will be announced in early 2024.

Of the 50 businesses selected from the more than 20,000 applications submitted during the program’s inaugural year, 50% are Black-owned, 36% are Latinx-owned, and 14% are Black-and-Latinx-owned. Additionally, 68% are women-owned ventures, according to Gran Coramino.

The first group included two New Jersey businesses: NYCSE LLC, a streetwear boutique in Englewood, and Valdez Institute of Self Defense, a martial arts school in Union City.

As part of its commitment to aid minority-owned ventures, Gran Coramino – which was developed in partnership with Global Brand Equities and made its market debut in May 2022 – donates $1 from every bottle sold to support diverse small business owners.

Actor-comedian Kevin Hart and Juan Domingo Beckmann, the founder of Jersey City-based liquor company Proximo Spirits, launched the Gran Coramino Tequila label in May 2022. – GRAN CORAMINO

Taking that pledge a step further, Gran Coramino named LISC as its first impact partner and unveiled plans to build a sustainable giveback program that provides financial resources and learning opportunities to small businesses.

Hart said in a statement, “The Coramino Fund is not just about grants – it’s about building a legacy of economic empowerment and generational success.”

He went on to say, “The impact our first year of collaboration with LISC had on Black and Latinx small business owners was inspiring to see. With this new round of support, we’re continuing to help break the barriers that have held talented entrepreneurs back from achieving their dreams.”

Michael Pugh, LISC CEO, commented, “The Coramino Fund is not merely a financial boost for small businesses; it’s a transformative force for aspiring entrepreneurs.”

“We’re eager to continue leveling the playing field for under-resourced Black and Latinx small business owners. Together with Gran Coramino Tequila, we are supporting sustainable businesses, quality jobs and economic growth that will enrich lives and uplift communities across the nation,” he said.

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