Administered by Government of Ontario · Last verified: July 2026
PARO Centre for Women's Enterprise runs a peer lending model for women across Ontario, especially in the north and rural areas. Self-selecting circles of four to seven women approve small loans for each other's businesses, building credit history and a support network at the same time. Loans range from $1,000 to $5,000 and grow with repayment. The program is a not-for-profit social enterprise with government backing and adds mentoring and training.
Review times vary by program, from a few weeks to a few months, so check the official page for its timeline. Grant money is usually paid after you sign a funding agreement, and cost-shared programs often reimburse you once you send proof of what you spent.
Take the 3-minute quiz to find out, and see every other Canadian program you qualify for at the same time.
Check my eligibilityPARO Prosper Peer Lending Circles (Ontario) is generally open to incorporated, self-employed, partnership businesses, in Ontario. Confirm the full criteria on the official program page before applying.
The estimated value is Peer lending circle loans of $1,000 to $5,000. The actual amount depends on your eligible costs, the program's budget, and approval.
1. Confirm you run or want to start a business in Ontario 2. Contact PARO to join or form a Prosper lending circle 3. Present your loan request to the circle 4. Repay on schedule to access larger amounts 5. Use PARO mentoring and training alongside the loan
Continuous intake.
50% of costs up to $50,000, 0% interest over 10 years (portion may be forgivable)
INCENTIVETerm loans up to $500,000; ABFP financing up to $250,000
INCENTIVEFinancing up to $1,500,000 plus non-repayable business plan support