LISC announces 50 small business grants through The Coramino Fund, a partnership with Kevin Hart's Gran Coramino® Tequila

NEW YORK, March 1, 2023 /PRNewswire/ -- The Local Initiatives Support Corporation (LISC) and Gran Coramino^®Tequila announced funding today for 50 small businesses led by Black and Latinx entrepreneurs operating in diverse industries like retail, transportation, and educational services.

Cofounded by entrepreneur Kevin Hart and 11^th generation tequila maker Juan Domingo Beckmann, and developed in partnership with Global Brand Equities, Gran Coramino is partnering with LISC to implement The Coramino Fund—the centerpiece of a give-back program to support small business owners who have historically faced racial barriers to capital that have blocked necessary resources to grow their businesses. LISC is the program's U.S. partner, and The Beckmann Foundation is leading the program in Mexico, which will launch later this year.

The Coramino Fund opened applications for U.S. businesses in November 2022, with submissions coming in from across the country. LISC selected 50 eligible businesses to receive a total of $500,000 in funding. Half of the grantees are Black-owned; 36 percent are Latinx-owned; and 14 percent are Black and Latinx-owned. Sixty-eight percent are women-owned businesses.

"We are proud to announce this year's Coramino Fund grantees in partnership with Gran Coramino Tequila," said Lisa Glover, CEO of LISC. "Black and Latinx entrepreneurs have historically lacked access to financial resources and learning opportunities, restricting their businesses' ability to expand and thrive. This impactful partnership provides vital resources to an exceptional group of small business owners around the country, who in turn support our local communities," said Glover.

"Juan and I always knew we wanted Gran Coramino to have a give-back component that focused on providing Black and Latinx entrepreneurs with resources to pursue their small business dreams," said Kevin Hart, co-founder of Gran Coramino Tequila. "Teaming up with LISC last year to launch The Coramino Fund in the U.S. was the start of that journey. Today, we are honored to recognize the 50 inspiring, hard-working entrepreneurs from around the country who were selected by LISC to receive a cash grant from The Coramino Fund," said Hart.

Please visit www.lisc.org/grancoramino for more information on The Coramino Fund and to learn more about the 2022-2023 grantees.

The Coramino Fund 2023 U.S. Grantees

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. www.lisc.org

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.

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SOURCE Local Initiatives Support Corporation (LISC)