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Select a loan offer that’s right for you and the funds will be deposited into your bank account via direct deposit. Investors will have the opportunity to fund your loan, which is done anonymously.Changing the Game
goPeer charges borrowers with one single origination fee, the amount of which is dependent on how much you would like to borrow. There are no early repayment fees or hidden costs for taking out a peer to peer loan on goPeer. goPeer is able to offer better rates to borrowers than traditional lenders while allowing everyday Canadian investors to access consumer credit as an asset class.
goPeer is a Canadian-based platform that provides personal loans to people in Canada. Their aim is to ensure Canadians have access to financial opportunities and available investments. By being a part of goPeer, you can continue to change the balance of power from large finance companies to everyday individuals.
There are a lot of reasons why you should use goPeer. Some examples include:
Becoming a goPeer member is free and easy to access. They charge an origination fee that will be taken from your loan proceeds which means there is no fee if you don't get approved for a fee. For borrowers, they charge an unsuccessful payment fee of $25 to cover the cost of the transaction and a late payment fee of $15 to be paid to the investors. For investors, they charge a servicing fee of 1.5% annually, and a collection fee of up to 35% to cover collection costs.
To get started with goPeer, go on their website and open an account. Their requirements for borrowers include:
As part of the Peer Securities Corporation, goPeer has security measures to ensure the safety and security of all personal information. They commit to strict regulations related to providing funds and loans which are enforced by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), as well as other federal agencies.