A Hamilton non-profit organization that loaned tools to people when they needed them has closed.

In a Facebook post Friday morning, the Hamilton Tool Library said money problems forced their hand. The announcement is made, they said, with "heavy hearts and great disappointment."

"The Hamilton Tool Library will no longer be in operation effective immediately," the post said.

"As a non profit, we have been faced with financial challenges which we are not equipped to overcome."

The library, which loaned out a variety of tools, started in 2015.

"It doesn't make sense to own a garage full of tools unless you're a professional or serious hobbyist," the library said on its website.

"Most people need to cut a few boards or drill a few holes a year, and some people don't have room in their garages. So why put money into a bunch of tools that won't be used?"

The library sold memberships and had a makerspace with a 3D printer. It also offered workshops.

Memberships ranged from $720 per year for unlimited access to the workshop, to $29 per year for novice memberships. The latter offered unlimited access to all of the tools, and rental periods of up to a week.

It also offered studio spaces for as much as $400 per month.