An independent registry of Northern Ontario funding Data updated Aug 17, 2026 · CC-BY-4.0
Northern Ontario Grants
Open, continuous intake Repayable

PARO Peer Lending Circles

by PARO Centre for Women's Enterprise

Also known as: PARO Prosper Peer Lending Circles · PARO Circles

PARO Peer Lending Circles give women entrepreneurs staged loans of $1,000 to $5,000, approved not by a bank but by the member's own circle of 4-7 women who meet regularly for accountability and support. Non-repayable portions of $500-$1,000 are available if you meet the criteria. Open to women 18+ in Northern Ontario (PARO is headquartered in Thunder Bay) who run a business, want to start one, or want to support other women. Intake is continuous via a PARO Business Counsellor.

Amount
$1,000 – $5,000

paro.ca · Last verified Aug 17, 2026 · Auto-checked against official source

Instrument
Loan (repayable)
Status
Open, continuous intake no fixed deadline; approvals on the funder's cycle
Who qualifies
Individual, sole proprietor, small business
  • Women 18 and over who run their own business, want to start one, or believe women can help women
  • Must join or form a self-selecting circle of 4-7 women that meets regularly
  • The circle itself reviews and approves members' loan requests

paro.ca · Last verified Aug 17, 2026 · Auto-checked against official source

Repayment structure

{"repayable":"Peer loans of $1,000-$5,000","non_repayable":"Portions of $500-$1,000 for members who meet the criteria"}

paro.ca · Last verified Aug 17, 2026 · Auto-checked against official source

How conditional contributions and repayable splits work

Application process

Call first. This funder expects contact with a program officer before you apply.

  1. Contact a PARO Business Counsellor (807-625-0328) or register on the myPAROPath platform
  2. Join or form a circle of 4-7 women (Circle Up! networking events help with matching)
  3. Circle meets regularly for accountability and support
  4. Circle reviews and approves peer loan requests in stages from $1,000 up to $5,000

paro.ca · Last verified Aug 17, 2026 · Auto-checked against official source

Common questions

How do the loan stages work?

Loans are staged: members start small ($1,000) and graduate to larger amounts up to $5,000 as they repay, with their circle reviewing and approving each request. PARO describes itself as the largest peer lending network in North America, with 150+ circles.

Do I need collateral or a credit check?

The peer model substitutes circle accountability for conventional security, your circle approves your loan. Contact a PARO counsellor for the current underwriting specifics, which are not published in full on the site.

Is any of it non-repayable?

Yes, PARO's page notes non-repayable portions of $500 to $1,000 for members who meet the criteria; ask your counsellor what currently qualifies.

Do I have to be in Thunder Bay?

No. PARO is headquartered in Thunder Bay and rooted in Northern Ontario, but circles now operate across Ontario and PARO describes its reach as Canada-wide.

Apply

Apply on the funder’s site and confirm current terms there:

paro.ca