The Coramino Fund, the investment arm of Gran Coramino, the tequila company co-founded by Kevin Hart and Juan Domingo Beckmann, has recently awarded grants to a new group of small businesses.
These $10,000 grants are part of a $1.5 million commitment aimed at assisting over 150 under-resourced entrepreneurs in the U.S. and Mexico in their competition with larger corporations.
Over the past three years, the grants have been allocated to help these small business owners integrate AI into their operations, specifically by providing access to AI training from 1st Street Partnerships. This initiative was launched in collaboration with Local Initiatives Support Corp. (LISC).
LISC President and CEO Michael Pugh told AfroTech, “According to the U.S. Bureau of Labor Statistics, about 20% of new businesses fail within their first year, and nearly 50% fail by their fifth year. The most successful entrepreneurs — locally and nationally — are the ones that have support, whether from their networks, communities, or by leveraging new technologies like AI.”
He added, “Even incorporating AI for ‘light’ uses such as drafting emails, scheduling, bookkeeping, or conducting market research can make a meaningful difference by freeing up time and mental bandwidth to focus on growth. As entrepreneurs grow more confident, AI can also help them analyze trends, understand customer behavior, and make data-informed decisions that support growth and revenue.”
Hart stated, “Our vision with The Coramino Fund is to lift up the hard-working entrepreneurs who keep our communities strong. This next group of grantees is a perfect example — they’re building businesses with purpose, and that’s the kind of leadership we want to celebrate and support.”
“The train is coming and coming fast,” Hart also told Fortune. “Either you’re on it, or if not, get out of the way.”
The Coramino Fund’s most recent grant distribution is focused on tackling the “AI divide.” Specifically, the grants aim to address the significant difference in AI adoption rates among businesses, a disparity that is particularly evident among enterprises run by marginalized communities, as reported by Fortune.
The existing divisions are amplified by AI, as many businesses run by marginalized communities lack comparable access to the resources, training, and capital necessary for effective AI utilization.
This is supported by a study from Michigan State University’s Julian Samora Research Institute, which used U.S. Census data to reveal a significant disparity in 2023. Black-owned companies reported the lowest AI usage, with under 2% classified as “high use.”
In stark contrast, nearly 78% of white-owned companies reported “high use” of AI adoption. Furthermore, Hispanic-owned and Asian-owned firms reported approximately 9% and 11% “high use,” respectively.
“It’s very exciting to find ways to be a part of the conversation and best position yourself to use it in a manner of good,” he added.
Jessica Hunter, the founder of Journee’s Roses in Compton, CA, is among the current cohort’s recipients. Her participation in the training allowed her to develop marketing strategies quickly—tasks that would typically require weeks. Monk Inyang, CEO of 1st Street Partnerships, noted that by the second session, Hunter had embraced advanced AI techniques and, as a result, discovered previously untapped revenue streams.
Daniel Paulsen, grant recipient and founder of 4 Grands Piano in Fairfield, NJ, said the grant “came right on time.” Paulsen intends to expand to a second location, including a new recording studio that will support the next generation of artists, he shared.
The “grant came right on time,” according to Daniel Paulsen, founder of 4 Grands Piano in Fairfield, NJ, and a recent recipient. Paulsen shared his plans to use the funds to open a second location, which will feature a new recording studio designed to support the next generation of artists.”
In total, there were 50 recipients from The Coramino Fund in 2025, which also includes, but is not limited to: 7Studios, About Town, Beautiful Amore Skincare, Friends and Family Circle of Love, HelpMatch, Make My Cake, Mood Board Studios, Niema Gallery, Pretty Little Me Spa, and She-Pop Popcorn.
“Entrepreneurs like Daniel, who opened one of the first Black-owned piano stores in America, or Amerrah (founder of Beautiful Amore Skincare), who is expanding access to inclusive skincare, exemplify the kind of impact we aimed to create with The Coramino Fund,” Vice President at Gran Coramino Tequila Kristin Turner told AfroTech.
