Simulations of supersymmetric field theories on the lattice with (spontaneously) broken supersymmetry suffer from a fermion sign problem related to the vanishing of the Witten index. We propose a novel approach which solves this problem in low dimensions by formulating the path integral on the lattice in terms of fermion loops. For N=2 supersymmetric quantum mechanics the loop formulation becomes particularly simple and in this paper – the first in a series of three – we discuss in detail the reformulation of this model in terms of fermionic and bosonic bonds for various lattice discretisations including one which is Q-exact.