Kevin Hart’s Gran Coramino Tequila Brand Reaches $1M Milestone in Donations to Small Business Owners and Entrepreneurs From Underrepresented Backgrounds

Kevin Hart’s Gran Coramino tequila brand’s grant program shared the news it donated over $1 million to Black and Latinx small businesses.  (Photo: Shutterstock/ Featureflash Photo Agency)

Kevin Hart’s Gran Coramino Tequila brand announced on Monday that since its inception in 2022, the brand has donated over $1 million to Black and Latinx small business owners through its Coramino Fund.

The Coramino Fund is a joint venture with the Local Initiatives Support Corporation where $1 from each bottle sold is donated to supporting underrepresented small business owners in the U.S. and Mexico.

“Small Businesses are the economic backbone of communities,” LISC President and CEO Michael T. Pugh said in a statement. “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 those businesses, we are also investing in the well-being of the communities where they operate.”

During the latest round of distributing funds raised through Gran Coramino tequila sales, 50 businesses were chosen.

As far as demographic statistics go, 52% were Black-owned businesses, 36% were Latinx-owned, 12% were Black and Latinx-owned, and 66% were women-owned.

These small businesses were from a spectrum of industries including hospitality, retail and transportation.

One of the individuals selected for a grant was Chef Frances Roman, the owner of the Puerto Rican restaurant Cocotazo in New York.

“As a business owner, you face ups and downs, and the Coramino Fund grant came to me at a time when we needed it most,” Roman explained. “We were able to buy more equipment to cater to large clients and invest in advertising. Since then, we’ve hired three more women and are outgrowing the space!”

The Gran Coramino Fund was announced in November 2022 after Gran Coramino launched in May that same year. During its inception, the brand’s giveback program raised $500,000 in funds so entrepreneurs could apply for $10,000 grants during the initial rollout.

Two years later, the brand announced it supported over 100 Black and Latinx small business owners.

“As an entrepreneur myself, I’ve seen how early financial support can impact the long-term success of the business,” Gran Coramino co-founder, actor and comedian Kevin Hart said in a statement. “The Coramino Fund was created to provide support to some of the hardest working people out there — entrepreneurs and small business owners.”

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