Siete Foods announces Juntos Fund award recipients - $300,000 in funding for Latino small business owners

AUSTIN, Texas, Sept. 27, 2024 /PRNewswire/ -- Siete Foods, a national Mexican-American food brand, is thrilled to share the 15 honorees of the 2024 Juntos Fund, an annual philanthropy initiative. This year's effort focused on supporting Latino-owned food and beverage establishments, ranging from family-run restaurants to coffee shops to pop-up paleta businesses. After receiving hundreds of submissions nationwide, Siete is awarding a total of $300,000 to the following inspiring entrepreneurs:

• Cuernavaca's Grill ($75,000), Los Angeles, CA - family-owned and operated restaurant, best known for serving delicious authentic Mexican food in downtown LA.
• Cafe Calle ($50,000), Los Angeles, CA - coffee shop on a mission to reintroduce quality coffee to the Black and Brown community in South Central.
• Puras Paletas ($25,000), West Orange, NJ - allergy friendly paletas and sweet treats made with fresh, real and natural ingredients.
• Livi's Mexicue ($25,000), Laredo, TX - a fusion of Texas BBQ and Mexican food.
• Suburb 21 ($15,000), El Paso, TX - a local restaurant aiming to bring the best flavors of Mexican culture.
• Nostalgia Gorditas ($15,000), Lakewood, CA - family-owned restaurant specializing in flour Gorditas from Torreón, Coahuila México.
• Qué Sazón Foods ($15,000), Austin, TX - offers salsas and traditional Mexican cuisine favorites, striving to highlight authentic flavors in everyday meals.
• Loteria Paleteria ($10,000), Taos, NM - serves artisanal Mexican paletas year-round.
• Moms & Pops Frozen Pops ($10,000), Austin, TX - all natural frozen pops and paletas, run by the Flores family.
• Dulce Dreams Cafe ($10,000), Charlotte NC - a pop-up bakery selling conchas, run by Norma, a self-taught baker born in Mexico.
• Soul Good Coffee ($10,000), Skokie, IL - a mobile specialty coffee and tea experience, with a mission to give back and support non-profit organizations.
• The Cupcake Bar ($10,000), Austin, TX - one-stop shop for wedding & event dessert catering, corporate gifting and virtual classes.
• Bites & Bowls ($10,000), Springdale, AR - a small family-owned eatery run by two sisters.
• Southwest Elixirs ($10,000), San Antonio, TX - a husband and wife duo looking to enhance their community with plant-based recipes and elixirs.
• Cafe Ollama ($10,000), Kansas City, MO - a Latin American coffee shop rooted in heritage and a signature drink, café de olla.

Why it matters: 

• In spite of the rapid growth of Latino-owned businesses, the structures that exist today appear to systemically underfund these businesses. (Bain & Company Report; Closing the Capital Gap: Fueling the Promise of Latino-owned Businesses)
• Less than 1% of funds from today's top venture capital and private equity investors wind up in the hands of Latino-owned businesses. (Bain & Company Report)
• 50% of all net new US small businesses are Latino owned (as of 2017).
• When Latino entrepreneurs start a business, 70 percent of their funding comes from personal savings, according to a Stanford study, while just six percent comes from commercial loans.

Details: 

Siete made a two-million-dollar funding commitment over a five-year period to support Latino-owned businesses. The company's Juntos Fund (Together Fund) was created to empower entrepreneurship in Latino communities. 

Quotes: 

• "Latino entrepreneurs face greater financial obstacles yet deserve the same opportunities to be successful. This year marks our biggest allocation of awards to date, and we're excited to support Latino founders making an impact," Miguel Garza, Siete Foods Co-Founder & CEO
• "As a Latino-founded business, we know firsthand the challenges entrepreneurs face and the importance of support. We believe in the value of 'Juntos Es Mejor' — together is better — and want to use our platform to help other business owners thrive," Veronica Garza, Siete Foods Co-Founder, President & Chief Innovation Officer

About Siete Foods:

Siete Foods is on a mission to inspire inclusivity around the table by sharing delicious heritage-inspired Mexican-American foods for a variety of dietary needs and preferences. Founded in 2014 in Austin, TX, Siete brought all seven (siete) members of the Garza family together on their journey to health. Siete's products span meals and macro snacks categories, including Grain Free Tortillas, Enchilada Sauces, Taco Seasonings, Botana Sauces, Mexican Cookies, Vegan Beans, Grain Free Puffs and Salsas, available across 40,000 retailers, as well as online at sietefoods.com. Join the family @sietefoods on Facebook and Instagram.

SOURCE Siete Foods