AUSTIN, Texas — Austin-based Mexican-American food maker Siete Foods plans to award $40,000 this month in a nationwide contest to help Latino entrepreneurs to open or expand their businesses.
Applications to the Siete Juntos Fund must be submitted by midnight CST on August 19, 2022. The company will award three prizes of $25,000, $10,000, and $5,000 to taco trucks, taco stands, Mexican food restaurants, or taquerias anywhere in the US.
The competition was stated because Latino businesses are less likely to receive bank loans than their non-Latino competitors.
Dallas gourmet chocolatier CocoAndré was awarded the inaugural Siete Juntos Fund prize last year.
Qualifying businesses must be at least 50 percent Latino-owned and operate as a food and beverage business that specializes in tacos, serves tacos, has the word "taco" in its business names. The businesses must be a sole proprietorship, partnership, or other legal entity, organized, and existing and authorized to do business in the United States.
The prize money must also be used for legitimate business purposes.
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