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goPeer's application


How to apply


goPeer business is operating online. It's easy, quick, and paperless. It's working to help every ordinary Canadian cope with financial problems.

Therefore there are some requirements if you want to get any peer-to-peer loan.

What do you need to apply:

1. Go to goPeer site

2. Fill out the online Borrower Questionnaire with your personal information.

The data that will be needed or verified during the application:

• Government Photo ID (driver's license or other proof of identification)

• Your credit report and credit score

• Your latest bank statements (or other proof of income)

• A recent utility bill (or other proof of address)

• A pre-authorized debit form or VOID cheque (for deposits and payments)

All the information is confidential and collected to evaluate the client's ability to take and pay back loans.

3. Review and submit your application.

4. Wait until an analysis department verifies your information and gives approval in 24 hours.

5. When a lender accepts your request, you will receive loan offers to choose the most relevant one.

6. A loan should be paid out by direct deposit as the lender fully funded it within two business days.

Application details

An application form could be filled out and submitted 24/7. The entire peer-to-peer loan application process can be completed online.

If all the information you provided is accurate, you could be given an instant decision. Otherwise, if a piece of additional information is required, you will be contacted by the team requesting the necessary information.

Once all needed information is received, the decision will be made within one working day.

The loan will be paid out within two days as the lender fully funds your loan; in some cases, it takes 2-4 days, depending on the bank.

There are reasons why your application may be rejected: goPeer specialists consider the loan's affordability, your credit score, and past credit history.

Be sure to meet the requirements like the amount and source of income, a verified Canadian bank account and residency, a credit score over 600, etc. Also, check if you provide all the required information correctly.

1. Go to the goPeer official website and click the "Borrow" button.

2. You open the screen with the general information about loans with goPeer and requirements. Click the red button "Apply today."

3. Then, you can see the screen with the requirements and a Borrower Questionnaire. Click "Continue."

4. Choose an amount of the loan using a slider. It could be any sum from $1,000 to $25,000.

5. Specify the purpose of your loan choosing from credit refinancing, debt consolidation, bills/expenses, home renovation, education, business, etc. Click "Continue."

6. To sign up, fill in your name and email.

If you provide all vital information accurately, the decision could be made quickly. If the team needs to verify and request more details, its agent will contact you. Typically within 24 hours, you get a response.

Once approved, your loan will be posted on the platform for investors to invest in your loan. You should receive loan offers on your goPeer dashboard if approved.

The loan offer you receive is assigned a grade ranging from A+ to E with a corresponding interest rate, origination fee, and annual percentage rate. You could compare different loans and choose the most suitable.

Your loan will be funded by an anonymous lender by direct deposit on your bank account within two business days.


How long does it take to get approved by goPeer?

Usually, a loan request is approved within 24 hours; you can instantly get the decision if you provide all the necessary information.

How trustworthy is goPeer?

goPeer was established in 2018 and has a lot of good reviews and accounts on social networks.

Peer Securities is a member of the Ombudsman for Banking Services and Investments and a registered exempt market dealer in all Canadian provinces. It utilizes state-of-the-art security protocols with advanced end-to-end data encryption. goPeer's securities operations are regulated by each jurisdiction in which it offers securities.

Additionally, goPeer is subject to the provincial laws of each jurisdiction in which it offers and funds loans. On a federal level, goPeer's lending operations are subject to specific statutes enforced by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) and other federal agencies.

Does goPeer verify income?

Yes, it does. Your income should be stable and at least $15,000 per year. You must not be on Employment insurance or CERB. Provide the information to verify: credit report and credit score, latest bank statements (or other proof of income).

Does goPeer hurt your credit score?

Yes, it does if you aren't paying back. There is no specific information, but it is said that the borrower is legally responsible for uncollected debts and fees.

Be sure that your payments are affordable for you every month before submitting the loan application. In addition, it should suit personal financial problems and goals.

Calculate loan payments in goPeer

goPeer calculator will allow you to calculate an approximate payment schedule for the loan

goPeer calculator
Interest rates are given in accordance with the rates of the bank in Ottawa as of 03.10.2022
Loan amount

Enter the desired loan amount

1000 $
25000 $
Loan term

Specify the loan term for the calculation


What to pay attention to when applying for a loan from goPeer

  1. The company must have a license if it runs business in Alberta, British Columbia, Manitoba, Ontario and Quebec.
  2. You can check the availability of the relevant license (copy) at the branch of the lending company.
  3. Membership in a self-regulatory organization (SRO) is an additional guarantee of the reliability of the lending company. This information can also be checked at the company's branch or on its official website.
  4. Availability of lending policies.
  5. The procedure for applying for a loan.
  6. The procedure for concluding the loan agreement and receiving the payment schedule.
  7. Other conditions for granting loans.

We recommend

  1. To check out the interest rates and frequency. 
  2. Check the availability of individual terms in the loan agreement (principal amount, term, date of advance, etc.).
  3. Check whether the loan agreement contains information about the total cost of borrowing.
  4. Take time to think – you can change your mind before agreeing or signing a loan agreement.
  5. Speed of loan processing.
  6. Accessibility – alternative lenders often operate where there are no bank branches.
  7. For the borrower - high interest on the loan.
  8. For an investor, the safety of funds is not guaranteed by the state.

What distinguishes goPeer from banks:

  1. Simplicity - loan processing is less formalized than in a bank.
  2. Fast loan processing.
  3. Accessibility.
  4. For the borrower - high interest on the loan.
  5. For an investor, the safety of funds is not guaranteed by the state.
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