GoPeer

Overview of the GoPeer program:

goPeer is a fintech platform that enables peer-to-peer (P2P) lending in Canada by matching individuals who need personal loans with retail and accredited investors seeking alternative investment opportunities. The platform operates entirely online and is fully regulated under Canadian securities laws. Borrowers can apply for unsecured personal loans ranging from $1,000 to $25,000 with fixed interest rates and repayment terms up to 5 years. These loans are typically used for purposes such as debt consolidation, medical expenses, home renovations, or starting a business. Instead of borrowing from a bank, borrowers receive funding from a pool of individual investors who choose to invest in their loan. Investors, in turn, earn monthly returns based on the interest borrowers pay. The platform offers credit risk ratings for each loan and allows investors to diversify their portfolio by spreading investments across multiple loans. goPeer conducts thorough credit checks and underwriting processes to evaluate borrower eligibility and ensure risk transparency. For borrowers, the platform offers a fast, transparent alternative to traditional lenders with competitive rates. For investors, goPeer provides a novel income-generating asset class with returns that are generally higher than traditional savings or bonds. All activities, from application to loan servicing, are managed digitally through goPeer’s secure online platform. The company is registered as an Exempt Market Dealer in all Canadian provinces, making it one of the few regulated P2P lenders in Canada.

Benefits of the GoPeer program:

• For Borrowers:
• Fast online application and approval process
• Competitive fixed interest rates
• No collateral required (unsecured loans)
• Funds can be used for personal or business purposes
• Loan terms between 3 to 60 months
• No prepayment penalties
• For Investors:
• Access to a regulated, high-yield alternative investment
• Monthly repayments with principal and interest
• Ability to diversify by investing in fractions of multiple loans
• Transparent credit scoring and risk assessment tools
• Low minimum investment per loan (as little as $10)
• Managed through a secure, automated online platform

Eligibility criteria of the GoPeer program:

• Borrowers:
• Must be a Canadian citizen or permanent resident
• Must be at least the age of majority in their province
• Must have a minimum credit score (typically 600+ recommended)
• Must have a stable income source and meet debt-to-income requirements
• No bankruptcies or consumer proposals within recent years
• Investors:
• Must be a Canadian resident
• Must pass a suitability and KYC (Know Your Customer) review
• Both retail and accredited investors are eligible
• Minimum investment per loan: $10