Local Initiatives Support Corporation (LISC) is excited to announce the Coramino Fund, a grant program to support Black and Latinx entrepreneurs.
Donor Name: Local Initiatives Support Corporation (LISC)
State: All States
County: All Counties
Type of Grant: Grant
Deadline: 12/05/2023
Size of the Grant: Not Available
Grant Duration: Grant Duration Not Mentioned
Details:
Building on the success of last year’s launch – when LISC received applications from every state and awarded $10,000 grants to 50 small businesses across 10 different industries – The Coramino Fund will continue empowering under-resourced business owners.
Like most small business owners, Black and Latinx entrepreneurs have big ideas and big dreams, but many face systemic barriers on their journey. They often are less likely to have cash reserves and access to credit and capital, which limits their ability to grow. To help close the wealth and opportunity gaps faced by entrepreneurs of color across the U.S., LISC is once again joining forces with Gran Coramino® Tequila to award another round of grants through The Coramino Fund.
Note: This year, The Coramino Fund aims to allocate 30% of its grants to small businesses located in these 10 states: California, Florida, Georgia, Illinois, Maryland, New Jersey, New York, North Carolina, South Carolina, and Texas.
What The Coramino Fund can do
The program provides $10,000 grants to Black and Latinx entrepreneurs. The grants are designed to foster business growth, with flexible uses including but not limited to:
- Hiring new staff or promoting existing staff to bring a new product or service to market;
- Purchasing equipment to add a new product or service to the business offerings;
- Upgrading physical space to better serve customers; and
- Launching a marketing and promotional campaign to attract more customers.
Eligibility Criteria
The Coramino Fund is open to Black and Latinx-owned small businesses nationwide. Small businesses are eligible to apply for a grant if they meet the following criteria:
- Based in the United States
- Owned by an individual 21 years of age or older (who must be the applicant)
- In operation for 5 years or less
- Have a business bank account
- Have no more than 3 locations and 30 employees
- Business owner(s) must not be an equity holder, owner, partner, member, director, manager, officer, employee, consultant, or agent of any beverage alcohol retail licensee, or has any other interest, direct or indirect, in any Retail Licensee. As a manufacturer of a distilled spirit, Gran Coramino® Tequila is legally prohibited from providing monetary funds to licensed accounts.
For more information, visit LISC.
