Atlanta Emerging Markets, Inc. funded a $2,800,000 Atlanta Advantage Loan Fund transaction with First Step Staffing, Inc., a local non-profit staffing agency that specializes in placing homeless residents in employment opportunities. Founded in 2007, First Step Staffing currently partners with the United Way, Goodwill and MUST Ministries to place approximately 200 homeless men and women per day in job assignments. 70% of placed workers have retained employment after 90 days (vs. the industry average of 50%) and over 30% of the company’s associates are US veterans.
The Advantage Fund loan was used by First Step Staffing to acquire the Atlanta operations of Labor Guys, LLC, a full services staffing firm. First Step Staffing estimates that after the acquisition they will be able to provide approximately 1,000 jobs per day to Atlanta area homeless men and women, which will help cut Atlanta’s homeless unemployment rate by 25-35%. For more information visit: http://firststepstaffing.com/
program: Atlanta Advantage Loan Fund