Non-profit organizations may face challenges obtaining mortgages from traditional banks due to their classification as high-risk entities, even when they have substantial financial reserves; alternative financial institutions like Stewards Canada can provide mortgage solutions for such organizations.
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Pt 2 Stewards Canada and Flamborough Baptist ChurchAdded:
Even with 1.2 million dollars in the bank and all of our accounts in [music] good standing, the bank rejected us because we were not for profit organization, [music] which put us as a high risk. A friend of mine recommended Stewards Canada, so I contacted them >> [music] >> and everything fell right into place and we signed the mortgage with Stewards Canada.
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