Gran Coramino Expands Small Business Grant Program to $1.5 Million, Adds AI Training Through New Partnership

Gran Coramino Tequila, co-founded by comedian Kevin Hart and tequila maker Juan Domingo Beckmann, has announced a new round of $10,000 grants for small businesses in under-resourced communities. The expansion brings the total amount awarded through The Coramino Fund to over $1.5 million, benefiting more than 150 entrepreneurs across the United States.

Applications for this latest round of grants are now open. The initiative continues Gran Coramino’s collaboration with the Local Initiatives Support Corporation (LISC) and introduces a new partnership with 1st Street Partnerships. In addition to financial assistance, grantees will receive hands-on training and business mentorship, including guidance in applying artificial intelligence (AI) to improve operations.

This marks the third year of The Coramino Fund, which supports entrepreneurs operating in or serving low- and moderate-income communities. The program aims to help small business owners who often lack access to traditional growth capital.

“With this new round of funding, The Coramino Fund will have awarded over $1,500,000 in grants to over 150 small business owners across the United States that operate in or serve low- and moderate-income communities,” according to the announcement.

The addition of AI education through 1st Street Partnerships is designed to address what organizers describe as the growing “AI divide.” The program offers small businesses the tools to use AI in ways that can improve efficiency, customer experience, and strategic decision-making.

“Our goal from day one has been to support hard-working entrepreneurs who run into obstacles securing the resources they need to grow,” said Kevin Hart, co-founder of Gran Coramino Tequila. “This continued work with LISC and a new partnership with 1st Street goes one step further. It gives owners the tools to get an advantage in today’s business environment. AI can be confusing. But the data isn’t – the businesses who adopt it early are better positioned to succeed in the long run.”

A study from the Bipartisan Policy Center cited in the announcement found that 83% of small businesses using AI reported improved systems, efficiency, and content production, with 54% seeing positive impacts on growth.

“As artificial intelligence is shaping the future of business, entrepreneurs must have the proper access and training to remain competitive and thrive,” said Monk Inyang, co-founder and CEO of 1st Street Partnerships. “We commend Gran Coramino and LISC for recognizing this as mission-critical, and we’re honored to partner with them to provide grant recipients with specialized AI programs and strategic mentorship through the lens of cultural intelligence.”

Michael T. Pugh, president and CEO of LISC, added, “Entrepreneurs drive community prosperity. Yet many often encounter barriers in accessing crucial funding and support. This initiative helps more small business owners succeed and expand.”

Applications for the grants are open through April 23, 2025. Entrepreneurs can apply at lisc.org/grancoramino and learn more about the program at grancoramino.com/fund.

This article, "Gran Coramino Expands Small Business Grant Program to $1.5 Million, Adds AI Training Through New Partnership" was first published on Small Business Trends

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