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First Step acquires staffing business to serve homeless & returning citizens

1/11/2018 |

First Step Staffing, a nonprofit social enterprise based in Atlanta, today announced its expansion into Philadelphia. Founded in 2007, First Step’s mission is to secure sustainable income for individuals transitioning out of homelessness, including veterans, re-entering citizens, and others with significant barriers to employment. In the first 12 months of operation in Philadelphia, First Step expects to employ 500 homeless men and women in the area and grow to serve more than 1,000 by year three.

“We are excited and eager to take our model – using a business approach to help solve a social concern – and implement it here in Philadelphia where the poverty rate is the highest of the top largest cities in the country,” said Dave Shaffer, First Step Staffing CEO. “Ultimately, we aim to be a true resource and collaborative partner for the organizations and passionate individuals who are already working to help Philadelphia’s homeless men and women take steps toward financial sustainability.”

The Philadelphia acquisition was funded by philanthropic dollars, including a Catalyst Fund grant from The Barra Foundation, support from the City of Philadelphia, investments by a consortium of socially minded members of Investors’ Circle, and a senior acquisition loan from four Community Development Financial Institution (“CDFIs”), including the Nonprofit Finance Fund, Reinvestment Fund, Local Initiatives Support Corporation (LISC), and Philadelphia Industrial Development Corporation.

Read more about First Step Staffing’s launch in Philadelphia here.

 

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