What is goPeer?
goPeer is Canada’s first consumer peer to peer lending platform dedicated to helping everyday Canadians to lend and borrow from each other. goPeer replaces banks and traditional financial institutions to provide better rates to borrowers while creating a new investment opportunity available to all Canadians.
What does goPeer offer?
goPeer offers affordable personal loans to help you achieve your financial goals. A peer-to-peer funded loan can be a great for a variety of needs such as debt consolidation, paying off high interest credit cards, home improvement, unexpected costs, vehicle expenses, medical expense, major purchases and more.
What does goPeer specialize in?
goPeer specializes in peer-to-peer lending. Borrowers may apply through goPeer and everyday Canadian investors may choose to invest and fund their loans.
What kind of loans does goPeer offer?
goPeer offers unsecured personal loans, installment Loans and debt consolidation.
What is the interest rate on a goPeer loan?
The APR range on a goPeer loan is between 8% - 33.92%.
How much can I borrow from goPeer?
You can borrow anywhere from $1,000 - $25,000 from goPeer.
What is the term length for a goPeer loan?
You have either 36 months or 60 months to pay back your loan from goPeer. You may pay off the loan earlier without any penalties.
How does goPeer collect repayments from borrowers?
Payment is arranged by direct debit, to be collected once a month. Flexible payment options are also available upon request. Your first repayment is usually scheduled to be debited one calendar month after you receive your loan. Borrowers are reminded in advanced of their upcoming repayments
Is goPeer Canadian?
goPeer is a 100% Canadian, Toronto-based organization that seeks to improve the financial opportunities to everyday Canadians. When you invest in a goPeer loan, you contribute to helping real people in Canada. Their innovative approach to lending focuses on financial wellness, empowering Canadians to help each other achieve their goals faster.
What is goPeer's commitment?
goPeer is committed to the financial health of their members and strives to improve the Canadian lending market by offering swift, affordable loans.
Is the information I share with goPeer secure?
At goPeer privacy and security is very important to them. They implemented a multi-layered approach to security, with strict constraints and controls in place for each layer to establish a fortified barrier. Among these layers they incorporated specialized security protocols including bank grade or better encryption of data at rest, in motion, and additional public-key (RSA-4096) encryption of sensitive information.
Can I borrow if I’m not Canadian?
You need to be a Canadian resident for at least 3 years and own a Canadian bank account to borrow through goPeer.