So I'm the Treasurer for a not-for profit organization that was just led on for 2 months that this bank would lend us the money for a renovation we wanted to do. They assured us at the beginning of the summer of '25 that they'd love to do the deal. We own our property outright (worth $1.5-2mm) and were looking for $300k (so they were MORE than covered just by the value of our building and property). Since we're a not-for profit, we always manage our P&L to as close to zero every year. Which was FULLY disclosed to them at the onset of their due diligence/underwriting. The renovations were for a vacant apartment dwelling which, upon completion, would have generated more than $4k / mo in revenue and would have MORE than enough covered our P*I payment to the bank. Turns out that they turned us down bc they couldn't see a clear path to paying off the loan - in spite of their agreeing with us that a) we had more than enough collateral and b) once the apartment was rented that revenue would have more than enough covered their payment. They are myopic, disingenuous, and didn't have the professionalism to even return my email until I sent them a deadline to fill or kill this deal. Sent them the email on a Friday and they didn't even have the courtesy to acknowledge the email until the following Thursday. AVOID this bank for ANY lending activity. Now, it's two months that I've wasted because I believed them at their word. read more