Kevin Hart's Tequila Company Disburses Over $1 Million to Small Business Owners

Actor and entrepreneur Kevin Hart has given away more than $1 million in grant funds to over 100 black and Hispanic small business owners and entrepreneurs.

The distributions were made possible through a partnership with Hart’s ultra-premium tequila brand, Gran Coramino Tequila and the Local Initiatives Support Corporation (LISC).

"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,” Hart said in a press release.

Founded in 2022, the company donates $1 from every bottle sold to support small business owners. In less than two years since its launch, Coramino has provided more than 100 entrepreneurs with $10,000 grants to grow their businesses.

"Small businesses are the economic backbone of communities, but many owners lack fair access to the capital and services they need to grow,” Michael T. Pugh, LISC president and CEO, said in the release.

“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,” he added. “When we invest in these businesses we are also investing in the well-being of the communities where they operate."

In this latest round, 52 percent of the businesses receiving grant money are black-owned, 36 percent are Hispanic-owned, and 12 percent are black and Hispanic-owned, while 66 percent of the grantee businesses are women-owned.

Gran Coramino was founded by comedian and entrepreneur Kevin Hart and 11th-generation tequila producer Juan Domingo Beckmann. Currently, the company offers two products, a reposado cristalino and an añejo.

LISC is one of the country’s largest community development organizations, working in an array of fields, including affordable housing, early learning, economic development, education, health, and small business. Since its founding in 1979, LISC has invested $29.7 billion to build 489,000 affordable homes and apartments, while also developing 81.4 million square feet of retail, community, and educational space.

"As a business owner, you face ups and downs, and the Coramino Fund grant came at a time when we needed it most,” Chef Frances Roman, owner of Puerto Rican restaurant Cocotazo in New York City, said in the release. “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!"