First-Step was set up in 1991 as a not for profit organisation by Norma Smurfit and a group of like minded individuals. The objective of First-Step is to provide microfinance loans (i.e. loans less than €25,000) to start up or expanding small and medium enterprises for job creation or protection.  Loans are targeted at people who have difficulty securing finance from traditional banking sources. To date First-Step has assisted 1,500 projects. It is estimated these projects have created in excess of 3,000 employment opportunities.

First-Step’s revolving loan funds are supported by the Social Finance Foundation, Enterprise Ireland through the EU Seed & Venture Capital Fund and Private Sector sponsorship.

Note from Chairperson Mrs. Norma Smurfit

“First Step plays a niche but very crucial role in addressing the unemployment crisis currently hitting the country.  When First-Step was established back in 1991 it was a direct response to the economic difficulties and level of unemployment at that time. Unemployment reached figures of 15% and unfortunately it looks like we are heading in that direction again in 2009.

We set up First-Step for the purpose of financially assisting job creation through enterprise.  First-Step assists micro-entrepreneurs by making available small loans from €5,000 up to €25,000 for the purpose of establishing a small business, thereby allowing themselves become self sustainable and to contribute to new job creation.

I am proud to say that First-Step has disbursed loans in every County in Ireland, thereby helping people become active in trade, production and the services sectors.

We are very grateful to our partners who support First-Step’s revolving loan funds – the Social Finance Foundation, Enterprise Ireland through the EU Seed & Venture Capital Fund and of course the Private Sector who give so generously.”