Canada's peer-to-peer lending platform connects borrowers directly with individual Canadian investors. Skip the bank middleman and access competitive personal loan rates from $1,000 to $35,000.
LOAN DETAILS
- Loan amounts from $1,000 to $35,000
- Terms from 6 months to 60 months
- Rates from 8% to 34% APR depending on credit
- No prepayment penalty
ELIGIBILITY
- Canadian resident, age of majority
- Stable verifiable income
- Valid Canadian bank account
How goPeer works
Traditional personal loans come from banks. Peer-to-peer lending takes banks out of the equation entirely. With goPeer, your loan is funded by individual Canadian investors who earn interest on their money while you repay your loan on a fixed schedule. The platform handles all the underwriting, payments, and administration.
Because goPeer's cost structure is leaner than a full-service bank, it can often offer more competitive rates to qualified borrowers. The entire process is online, decisions are fast, and there is no need to book an appointment or visit a branch.
Takes 10 minutes. Seeing your rate is a soft check only.
goPeer vs. traditional bank loans
Banks charge between 8% and 24% APR on personal loans for well-qualified applicants, but their approval process is slower, requires branch visits in many cases, and their credit card rates sit at 19.99% to 29.99%. Here is how goPeer stacks up for typical borrowers.
| Feature | goPeer | Major Canadian Banks | Credit Cards |
|---|---|---|---|
| Interest rate | 8% to 34% APR | 8% to 24% APR (good credit) | 19.99% to 29.99% |
| Application | 100% online, 10-15 min | Branch visit often needed | Online, instant decision |
| Soft credit check to see rate | Yes, no impact | Varies by bank | Usually hard check upfront |
| Prepayment penalty | None | Often applies | N/A |
| Funding speed | A few business days | Several business days to weeks | Ongoing revolving, no lump sum |
| Fixed payments | Yes, predictable | Yes | Minimum payments, variable |
Built for Canadian borrowers
Ready to escape high credit card rates?
goPeer personal loans from 8% APR. Check your rate without affecting your credit score.
Apply at goPeerWhen a P2P personal loan makes sense
A goPeer personal loan can be a strong option if you are consolidating high-interest credit card debt at a lower fixed rate. Carrying $15,000 across credit cards at 19.99% costs roughly $3,000 in interest per year. Moving that balance to a goPeer loan at a lower rate on a 36-month repayment plan can save thousands and give you a clear payoff date.
goPeer is also used for home renovation financing, vehicle purchases, unexpected large expenses, and life events like a wedding or a move. Because payments are fixed, it is much easier to budget around than revolving credit card debt.
Borrowers with good to excellent credit (generally above 660) are more likely to qualify for rates at the competitive end of goPeer's range. The platform uses a soft credit inquiry to show you your personalized rate before you commit, so you can evaluate the offer with no risk to your credit score.
goPeer FAQ
goPeer Personal Loans
Borrow $1,000 to $35,000 from other Canadians
FSRA regulated. Rates from 8% APR. Fixed payments. No prepayment penalty.
Check My Rate - Free, No CommitmentSoft credit check only. Your score is not affected.
Bremo has a referral partnership with goPeer. We may earn a commission if you apply through our link, at no cost to you. Rates and loan amounts shown are indicative and may vary. Always review the full loan agreement and terms before borrowing. goPeer is regulated by the Financial Services Regulatory Authority of Ontario (FSRA). This page does not constitute financial advice. Last updated: April 2026.