April 26th 2024.
It hasn't been very long since Kevin Hart's Gran Coramino Tequila® made a bold announcement in collaboration with the Local Initiatives Support Corporation. Their joint initiative, The Coramino Fund, aimed to provide crucial financial support to Black and Latinx small business owners and entrepreneurs. And now, it has been revealed that over $1 million in grants has been disbursed to 100 small businesses, resulting in job creation and business growth within their communities.
The fund was launched in November 2022 by the multi-talented comedian and entrepreneur, Kevin Hart, together with his business partner, Juan Domingo Beckmann. Since then, The Coramino Fund has received an overwhelming response of more than 35,000 grant applications from a diverse range of businesses, including retail, transportation, food services, and educational services. As a result, 50 small companies were selected to receive $10,000 each in grants. Among the recipients, 52% are Black-owned, 36% are Latinx-owned, and 12% are owned by both Black and Latinx entrepreneurs. It's also worth noting that 67% of these businesses are owned by women.
Kevin Hart expressed his passion for entrepreneurship and acknowledged the impact of early financial support on the long-term success of a business. He stated in a written statement, "The Coramino Fund was created to provide support to some of the hardest-working people out there—entrepreneurs and small business owners." This fund specifically targets underserved business owners and entrepreneurs in Mexico, with the help of local impact partners.
According to Michael T. Pugh, the president and CEO of LISC, small businesses are the backbone of communities. But unfortunately, many business owners face challenges in accessing the necessary capital and services to grow their businesses. Pugh expressed his gratitude towards Gran Coramino Tequila for recognizing and addressing the systemic barriers that affect the success of underrepresented entrepreneurs. He emphasized that investing in these businesses also means investing in the well-being of the communities where they operate.
On a personal note, Kevin Hart was recently recognized by the John F. Kennedy Center for the Performing Arts as the 25th recipient of the prestigious Mark Twain Prize for American Humor. The ceremony took place on March 24, 2024, and will be premiering on Netflix on Saturday, May 11, 2024. Hart's philanthropic efforts and entrepreneurial spirit have undoubtedly made a significant impact, and this recognition is a testament to his hard work and dedication.
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