Frequently Asked Questions

About Peerfunder

What is Peerfunder?

Peerfunder is an online provider of innovative financial solutions for small and medium sized businesses. We offer financing through our crowdfund financing or through our revenue sharing loan. Our mission is to quickly connect your business and crowdfund campaign with the capital you need, so you can get right back to exceeding your goals and growing your business.

Where is Peerfunder available?

Peerfunder currently offers crowdfund financing to all of North America and revenue sharing loans to all of Canada (excluding Quebec).

How much can I borrow?

  • Up to 50K for crowdfund financing.
  • Up to 25K for a revenue share loan.

What are Peerfunder's fees?

  • 1% interest per week for crowdfund factoring.
  • 8-30% APR for rev share.


Crowdfund Financing

What is Crowdfund Financing?

Apart from credit card debt and sluggish traditional banks, there are few financing options for crowdfunders. Peerfunder's crowdfund financing fills that gap and is designed to help crowdfunders solve their cash flow problems as they wait for their successful campaign to finish and transfer funds. Whether you want to capitalize on momentum or start production early, Peerfunder's crowdfund financing enhances your cash flow so you can get started today.

What type of campaigns does Peerfunder work with?

We work with all types of crowdfunding campaigns. Contact us before your campaign starts so we can fund you immediately upon achieving your funding target.

What are the eligibility requirements for applying?

  • Your campaign must be 100% funded to recieve financing, but you can start the application early so we can fund you the second you hit your funding target.
  • Must be incorporated.
  • Your crowdfund campaign and business must be located in North America.

What information do you need from me to apply?

  • Government Issued ID
  • Proof of Ownership of Crowdfunding Campaign
  • Bank account verification

How long does it take to get funded?

On average it takes 48-72 hours to get funded after application. However, if you apply early we can hasten the process.

How will I receive my loan?

Financing is delivered via wire transfer.

How do I repay my loan?

Financing is repaid via wire transfer.


Revenue Sharing

What is a Revenue Share Loan?

Peerfunder's revenue share loan allows your business to pay back a loan as a percentage of your revenue over a variable period of time. Rather than be stuck with a set rate and a set payback period, our loan gives your business the flexibility it needs to manage loan payments in a way that puts the success of your business first.

What is an investment multiple?

The investment multiple is the ratio we use to determine how much you have to pay back. Simply put, we calculate: amount borrowed * investment multiple = total amount owed.

How are the payments determined?

First, Peerfunder will examine your business and determine if our loan is right for you. Once we understand your business and your busines financials we will determine the percentage of revenue that will be charged each month.

What businesses are eligible for Peerfunder’s revenuesharing product?

In order to be eligible to apply, you need to have a monthy recurring revenue of at least $10,000 and have been in business for at least 1 year.

What industries does Peerfunder work with?

At Peerfunder we work with any business, as long as you meet our minumum requirements.

Is there an application fee?

There’s no application fee for applying for a loan with Peerfunder.

What information do you need from me to apply?

There are a couple essential documents that we need to get the ball rolling on an application. These are:

  • 12-month bank statements
  • T2 corporate income tax return or T125
  • Existing loan agreements
  • 12-month financial statements (balance sheet, incomestatement, cash flow statement).

If your application is approved, we will need a personal credit report and a scanned copy of your drivers licence.

How long is the screening process?

The screening process can take up to two days.

Is my application confidential?

Your information is always secure with Peerfunder. For verification purposes, we use Decision Logic, an advanced secure bank verification system that provides instant verification for a borrower’s banking information. Please authorize Decision Logic upon being prompted by email. Your supporting documents will be visible in accordance with the privacy policy of the issuing institution.

How much funding is available?

Currently we are offering loans up to $25,000.

How will I receive my loan?

After you sign the revenue sharing agreement and agree to our terms and conditions, we will transfer your funds to your business bank account via direct deposit or cheque.

How do I repay my loan?

From the first month of your payment, Peerfunder will take a small percentage of sales that will contribute to your loan repayment. We use preauthorized debit withdrawals, and withdraw every month

What does revenue auditing involve?

Revenue auditing involves reporting monthly and quarterly bank statements, along with year-end tax returns. This is to ensure that you’re paying the right amount and that you’re on track.

How long will it take to repay my loan in full?

We estimate a payback period of 1.5 to 2 years.