KEVIN HART'S GRAN CORAMINO® TEQUILA DISBURSES OVER $1,000,000 TO OVER 100 UNDER-RESOURCED SMALL BUSINESS OWNERS

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Apr 24, 2024, 09:00 ET

THE CORAMINO FUND, IN PARTNERSHIP WITH LISC, REACHES MILESTONE AS IT ANNOUNCES ITS NEWEST COHORT OF U.S. GRANTEES

JERSEY CITY, N.J., April 24, 2024 /PRNewswire/ -- Gran Coramino^® Tequila, an ultra-premium tequila founded in 2022 by entrepreneur Kevin Hart and 11th-generation tequila maker, Juan Domingo Beckmann, is proud to announce it has now disbursed over $1,000,000 USD in grant funds to over 100 Black and Latinx small business owners and entrepreneurs through the Coramino Fund, in partnership with its U.S. impact partner, the Local Initiatives Support Corporation (LISC).

Coramino Fund Grantees from left to right: Chef Frances Roman, Owner of Cocotazo; Martin Boyd, Owner of Redemption Body Wellness and Jasmine Davis, Owner of Sweet Jazz Treats.

Founded with a vision to celebrate life's hard-earned moments, Gran Coramino Tequila donates $1 from every bottle sold to support the hard work of underrepresented entrepreneurs across the U.S. and Mexico.

In less than two years since its launch, The Coramino Fund in the U.S. has supported over 100 entrepreneurs with $10,000 grants to fuel the growth of their small businesses. Over 35,000 submissions were received from various industries including retail, transportation, food services, educational services, and more since the fund launched. In the latest funding round, 50 businesses were selected to receive grants – 52% of these businesses are Black-owned, 36% are Latinx-owned, and 12% are Black and Latinx-owned; 66% of the grantee businesses are women-owned.

Kevin Hart, co-founder of Gran Coramino Tequila, noted, "As an entrepreneur myself, I've seen how early financial support can impact the long-term success of the business. The Coramino Fund was created to provide support to some of the hardest working people out there — entrepreneurs and small business owners."

"Small businesses are the economic backbone of communities," said Michael T. Pugh, LISC president and CEO, "but many owners lack fair access to the capital and services they need to grow. We are grateful to Gran Coramino for recognizing the systemic barriers that impact the success of underrepresented entrepreneurs and developing a give-back strategy to help address them. When we invest in these businesses," he added, "we are also investing in the well-being of the communities where they operate."

When Chef Frances Roman, owner of Puerto Rican restaurant Cocotazo in New York City, found out she was a Coramino Fund grantee, she turned to her wife and said, "Can you believe this?!" She noted, "As a business owner, you face ups and downs, and the Coramino Fund grant came at a time when we needed it most. We were able to buy more equipment to cater to larger clients and invest in advertising. Since then, we've hired three more women and are outgrowing the space!"

Alongside its give-back work in the U.S., Gran Coramino Tequila has and continues to support entrepreneurs in Tequila, Mexico – where Gran Coramino's Cristalino Reposado and Añejo are crafted – with Mexico impact partner the Beckmann Foundation. Later this year, and through our strategic partners, the brand is expanding its Coramino Fund programming to entrepreneurs throughout Mexico with a new impact partner, and renowned university, Tec de Monterrey.

Gran Coramino was founded by comedian and entrepreneur Kevin Hart and 11th-generation tequila producer Juan Domingo Beckmann to deliver a tequila worthy of celebrating hard-earned moments. Developed in collaboration with Global Brand Equities and Proximo Spirits, the venture combines Hart's genuine love for tequila with Beckmann's profound generational expertise in the art of spirits crafting. The Coramino Fund, now in its second year, is a testament to the duo's relentless dedication and commitment to giving back.

About LISC
LISC is one of the country's largest community development organizations, helping forge vibrant, resilient communities across America. LISC works with residents 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 $29.7 billion to create more than 489,000 affordable homes and apartments, developed 81.4 million square feet of retail, community, and educational space, and helped 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. 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. The brand includes an Añejo expression, offering a silky smooth tequila taste with a long and sweet cognac-laced finish. Gran Coramino donates $1 from every bottle sold to support the hard work of underrepresented entrepreneurs across the U.S. and Mexico. Gran Coramino® Tequila. 40% Alc./Vol. (80 proof). Trademarks owned by Gran Coramino LLC. ©2023 Gran Coramino, Jersey City, NJ. Please drink responsibly.

SOURCE Gran Coramino