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In partnership with Northwood Mortgage, Adaptability Canada has created two unique financial solutions for our customers.

Accessible Community Loan Program

This solution has been created with non-profits specifically in mind and is the only product of its kind in Canada. The loan is designed to assist in the barrier-free modification of buildings owned by non-profits who may otherwise have difficulty affording to do so through traditional channels. It works as a 1 to 3 year term loan with interest-only payments in the first year giving non-profits the ability to easily afford payments and up to three years to fund raise to pay off the loan. Further, we have combined this solution with other services as part of a turn-key solution for non-profit organizations looking to better serve their aging or disabled members.

How it works:

• It works much like a mortgage
• The loan has been designed for large construction projects such as the addition of LU/LA elevators to older buildings or major retrofit renovations
• The non-profit organziation makes interest-only payments for the first 12 months and makes principle and interest payments for the remaining term.

Requirements and terms:

• Building must be owned by the non-profit or have agreement with the landlords to execute the loan
• Minimum loan amount is $250,000.00 CAD
• Annual interest rate of 8.85%
• 2.75% fees to the financing companies. Adaptability Canada does not make a single cent off the transaction or loan.
• Term of up to 3 years
• Phase I Environmental Assessment must be completed or provided
  
• The Charter and By-laws for the non-profit chapter
• Current financials
• Property appraisal

Adaptability Canada is abe to assist in the requirements process to help our customers arrange for appraisals and Phase 1 Environmental Assessments.

For more information, please call 1 844-240-8588

Age at Home Loan

A financial solution specific to home owners and family caregivers, the Age at Home Loan is designed to allow you to age gracefully, comfortably, safely and affordably in your home or keep your parents in theirs. Combined with our home solutions and in partnership with leading charities, the Age at Home Loan provides much needed assistance and leverages all relevant subsidies and tax credits as part of the process.

How it works:

• Works very much like a reverse mortgage using equity from the home to fund the Age at Home renovations
• Uses all available tax credits to offset the cost of borrowing and the interest
• Ensures you or your parents can live safely and comfortably at home
• Ideal for major renovations, home mobility upgrades or retrofiting a recreation property

Requirements and terms:

• Property must be owned by the applicant
• Minimum loan amount of $25,000 OAC
• Annual interest rate between 2.35% and 4.39%
• Property appraisal
• Personal financial information

 For more information, please call 1 844-240-8588