Adaptability Canada has partnered with Northwood Mortgage to create targeted financial solutions for consumers and non-profit organizations that serve seniors and persons with disabilities, along with their families.
The Accessible Community Loan Program, the first of its kind, is designed to allow Canadian non-profits that own and operate buildings to access construction financing for large projects of $250,000, or more. This provides an alternative for these organizations as they may not have been able to borrow money from Canada’s traditional banks.
The program is based on a three-year term and allows the organization to make interest-only payments throughout the first year to give them a headstart.
With this financial solution, organizations can focus on raising funds through various means to repay the loan without the added pressure of making principle payments until the second year of the term.
“The Accessible Community Loan Program is a good starting place for organizations considering accessibility renovations,” said Jeff Wilson, CEO of Adaptability Canada. “Non-profit organizations are often located in older buildings that are not accessible to members and other people with disability. Non-profits unable to offer accessibility room rentals are not getting their needed revenue, often a significant part of their annual budgets.”
