Gran Coramino Tequila, co-founded by comedian Kevin Hart and tequila producer Juan Domingo Beckmann, has announced the expansion of its small business grant initiative, The Coramino Fund, reaching over $1.5 million in total allocations. The latest round of funding will provide grants of $10,000 each to small businesses located in economically underserved communities throughout the United States. To date, the program has supported more than 150 entrepreneurs nationwide.
Applications for the new round of grant funding are currently open and will continue through April 23, 2025. In addition to providing financial assistance, Gran Coramino’s ongoing collaboration with Local Initiatives Support Corporation (LISC) has expanded to include a new partnership with 1st Street Partnerships, which will deliver specialized training and mentorship focused on integrating artificial intelligence (AI) into applicants’ business operations.
The grant program, now in its third year, specifically targets entrepreneurs serving low- to moderate-income communities as a means to address challenges they face accessing traditional capital sources. According to organizers, many small businesses struggle to obtain growth funding from standard channels, and initiatives like The Coramino Fund are aimed at bridging these existing gaps.
Kevin Hart emphasized the importance of providing recipients with both the financial backing and expertise necessary to navigate today’s increasingly AI-driven business landscape. Hart noted that companies adopting AI technology early are better equipped to thrive long term. To address this, the partnership with 1st Street will help businesses effectively leverage AI tools to enhance productivity, customer interactions, and strategic decision making.
A cited study by the Bipartisan Policy Center supports this direction, revealing that 83% of small businesses already using AI indicated improved operational efficiency, enhanced content production quality, and system improvements, while 54% experienced tangible business growth benefits.
1st Street Partnerships, which will lead components of the AI-specific training, reinforced the necessity of AI expertise in modern business environments. Co-founder and CEO Monk Inyang underscored the intention to equip grant recipients with culturally aware strategic mentorship and actionable AI training, helping them remain competitive.
Michael T. Pugh, president and CEO of LISC, added that empowering small business entrepreneurs with accessible capital and practical resources is essential to driving prosperity at the community level. He pointed out that initiatives like The Coramino Fund directly assist entrepreneurs who routinely face barriers securing essential funding and support.
Entrepreneurs interested in applying for the current round of $10,000 grants can do so through the grant application portal at lisc.org/grancoramino and find additional details on the program at grancoramino.com/fund.
