An independent registry of Northern Ontario funding Data updated Oct 1, 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 Staged peer loans from $1,000 to $5,000, approved by the member's own circle; non-repayable portions of $500-$1,000 available if criteria are met. This award range, $1,000 to $5,000, against every tracked amount from $1,000 to $500,000,000, on a logarithmic scale.

Against all tracked amounts, $1,000 to $500,000,000, logarithmic.

paro.ca · Last verified Oct 1, 2026 · Auto-checked against official source

Access loans ranging from $1,000 to $5,000

Instrument
Loan (repayable)
Status
Open, continuous intake no fixed deadline; approvals on the funder's cycle
Who qualifies
Individuals Businesses
  • 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 Oct 1, 2026 · Auto-checked against official source

4 (four) to 7 (seven) women, 18 (eighteen) and over, who all run their own businesses, want to start one, or who believe that women can help women

Where
Algoma District · Cochrane District · Greater Sudbury (single-tier census division) · Kenora District · Manitoulin District · Nipissing District · Parry Sound District · Rainy River District · Sudbury District (excl. Greater Sudbury) · Thunder Bay District · Timiskaming District11 of 11 Northern Ontario districts are eligible for this program.Algoma District: eligibleCochrane District: eligibleGreater Sudbury (single-tier census division): eligibleKenora District: eligibleManitoulin District: eligibleNipissing District: eligibleParry Sound District: eligibleRainy River District: eligibleSudbury District (excl. Greater Sudbury): eligibleThunder Bay District: eligibleTimiskaming District: eligible

11 of 11 Northern Ontario districts are eligible for this program. A filled dot is eligible, an outline is not.

Built for
Startups & new entrepreneurs Small business, expansion Students & individuals

Do you have to pay this back?

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 Oct 1, 2026 · Auto-checked against official source

How conditional contributions and repayable splits work

How do you apply?

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 Oct 1, 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.

Where else could this money come from?

Chosen by what these programs have in common with this one, not by hand. The reason is shown for each, so you can judge whether it holds.

Guides that cover this program

Notes on this record

PARO also runs adjacent supports (FinancerHER investment-readiness, WEOC Loan Fund access, grants of $500-$1,000 through partner programs), this record covers only the Peer Lending Circles.

Apply

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

paro.ca