Spicing Up Success

Spicing Up Success

In 2015, Angel Gregorio walked by a vacant storefront and in a matter of moments, turned it into a business idea that stemmed from her passion for flavor. As she stepped away from a career in education to open the shop, Gregorio’s story became a leap of faith. “The Spice Suite is probably the most serendipitous thing I’ve ever done,” she says. According to the Washington, D.C. native, it’s now a seven-figure business supported by a profitable online store.

Pictured: Angel Gregorio,
Creator & Curator of The Spice Suite

Unlike many retail businesses, The Spice Suite defied the pandemic, earning $1.5 million in revenue for 2020. However, no business story is without its stumbling blocks. While working with a bank to acquire commercial property, Gregorio admits there were roadblocks along the way, and the transaction was nearly lost. “City First Enterprises stepped in and held my hand throughout the process,” she says. “They saved the deal and got me to closing ahead of time.”

CFE provided Gregorio with essential technical assistance, mentoring her on various aspects of the acquisition process. In addition to the lending capital, the CFE Grants Management Team helped her with a grant application to the DC Commercial Property Acquisition Fund, allowing her to grow The Spice Suite while mitigating financial risk. “We’ve created jobs and a community around this business,” adds Gregorio. “It’s been awesome.”

We’re proud to be a part of Angel Gregorio’s story and look forward to seeing her continued success. Learn more at thespicesuite.com.

The Commercial Property Acquisition Fund is partially or fully funded through the District of Columbia Executive Office of the Mayor—Office of the Deputy Mayor for Planning and Economic Development.

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About City First Enterprises:

City First Enterprises is a certified CDFI (Community Development Financial Institution) specializing in flexible lending for affordable housing, commercial real estate, small businesses, non-profits, and clean energy projects. With a mission to create equitable financial solutions to support people and communities in achieving their economic aspirations, we envision a future where all people and communities transform their futures through equitable access to capital.