LISC Unveils New Grant Program to Fuel Black and Latinx Businesses through Partnership with Kevin Hart’s Gran Coramino™ Tequila

11.15.2022 - Press Releases

The Coramino Fund commits $500,000 to help close wealth and opportunity gaps in Black and Latinx communities across the U.S.

NEW YORK (Nov. 15, 2022)—The Local Initiatives Support Corporation (LISC) is rolling out a new grant program in partnership with Gran Coramino™ Tequila—a brand founded by entrepreneur and comedian Kevin Hart and 11th generation tequila maker Juan Domingo Beckmann—to fuel small businesses and address the disparities that have long affected Black and Latinx entrepreneurs.

The Coramino Fund, a $500,000 fund announced today, will provide $10,000 grants to entrepreneurs and small business owners in the United States to foster their growth, including but not limited to: hiring new staff, bringing new products to market, upgrading equipment and space, launching promotional campaigns to attract new customers, and more.

The Coramino Fund is part of Gran Coramino’s larger give-back program and the anchor initiative in the collaboration with LISC, announced earlier this year. In the lead up to the program’s launch, Hart and the Gran Coramino team joined LISC in celebrating and supporting small businesses in West Philadelphia, Staten Island, Los Angeles, and Chicago’s Pilsen neighborhood, learning about owners’ businesses and understanding their goals and challenges—all of which helped cement plans to help fuel equitable growth for Black and Latinx entrepreneurs. 

As part of the listening tour, the Coramino Fund awarded four early grants of $10,000 to local entrepreneurs to support their small businesses: 

• Island Rotisserie Chicken, New York 
• MCM Protein Bar, Chicago 
• Redemption Body Wellness, Philadelphia 
• Wash My Dog, Los Angeles 

“I am extremely proud to announce Gran Coramino’s partnership with LISC to support to Black and Latinx entrepreneurs all over the U.S.,” Hart said. “At Gran Coramino, we know that pursuing the path of entrepreneurship is hard work. We also know that some of our best and brightest have historically been excluded from opportunities or lacked the resources to pursue their entrepreneurial dreams. As an entrepreneur myself, I know how impactful bringing financial resources and learning opportunities to these communities can be.” 

The program is designed to respond to some of the systemic barriers facing Black and Latinx entrepreneurs, particularly less access to credit and capital and lower cash reserves. The goal of the program aligns with LISC’s broader work on racial equity, specifically its $1 billion Project 10X initiative. 

“Black and Latinx entrepreneurs historically have been blocked from access to affordable capital resources, which has restricted the ability of their businesses to grow, thrive, and create generational wealth,” said Lisa Glover, LISC CEO. 

“We’re thrilled to team up with Gran Coramino Tequila to help close that opportunity gap by connecting these entrepreneurs to grants that enable them to nurture and mature their businesses. Small businesses are the lifeblood of a community, and this funding to support Black and Latinx businesses not only benefits entrepreneurs but also brings vital jobs, goods, services, and energy to communities.”

LISC Leadership, Lisa Glover and Steve Hall, met with Kevin Hart and Chicago's MCM Protein Bar owners earlier this summer.

The grants will be focused on businesses that have fewer than 30 employees and that have been in business for five years or less, offering funding that will help them compete effectively in a post-pandemic economy.

The grant application is now available and must be submitted to LISC by Monday, Nov. 21, 2022. For more on the program, visit www.lisc.org/grancoramino. 

About LISC 

LISC is one of the country’s largest community development organizations, helping forge vibrant, resilient communities across America. LISC works with communities and partners to close systemic gaps in health, wealth and opportunity and advance racial equity so that people and places can thrive. Since its founding in 1979, LISC has invested $26.7 billion to create more than 463,000 affordable homes and apartments, develop 78.5 million square feet of retail, community and educational space and help tens of thousands of people find employment and improve their finances.

About Gran Coramino™ Tequila

Gran Coramino is a tequila brand founded by two world-class masters of their crafts, Juan Domingo Beckmann and Kevin Hart. As entrepreneurs and tequila lovers, Juan and Kevin first bonded in Tequila, Mexico over their passion for what tequila is and can be, as well as their shared values and desire to innovate the tequila category. Launching first with Gran Coramino Reposado Cristalino, the tequila is matured in Eastern European oak barrels, finished in California Cabernet wine casks and slow-filtered for smooth flavor and crystal-clear color. On September 14, 2022, the brand expanded with an Añejo expression, matured in both American and French oak barrels for 12 months. The tequila is then blended with Añejo reserves matured in ex-cognac casks. The final liquid reveals notes of butterscotch, toasted cacao, and coffee beans for a silky smooth tequila taste with a long and sweet cognac-laced finish. For more information, please visit www.GranCoramino.com and follow @GranCoramino on Instagram.