Tequila brand Gran Coramino has fronted a US$500,000 funding project for small-business owners in the US.
‘The Coramino Fund’, which debuted in November, has distributed the money in collaboration with NGO Local Initiatives Support Corp. Of the successful applicants, 50% of the businesses are Black-owned, 36% are Latinx-owned and the remaining 14% are jointly Black- and Latinx-led.
The funding is the result of a $1-per-bottle donation made by the brand, co-founded by actor & comedian Kevin Hart and Juan Domingo Beckmann, the CEO of Jose Cuervo Tequila owner Cuervo. An Añejo extension, priced at $99.99 per 75cl bottle, was released in the US in September.
The programme will also run separately in Mexico later this year.
“Black and Latinx entrepreneurs have historically lacked access to financial resources and learning opportunities, restricting their businesses’ ability to expand and thrive,” said LISC CEO Lisa Glover. “This impactful partnership provides vital resources to an exceptional group of small business owners around the country, who in turn support our local communities.”
Late last month, US-based craft beverage specialist Entertainment Arts Research acquired Perfectomundo Tequila from its founder, DJ Paul Oakenfold.
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