Loans · Borrowing and lending
A loan priced by your record, funded by people who never learn your name.
Wiremi sets the rate from your tier and your history. One peer benefactor, an ordinary member lending their own capital, funds the whole loan at that rate and cannot change it. You see the full offer before anyone funds a cent.
How a loan is funded
Four steps, and the price is fixed before step three.
- 01
You request an amount
Pick how much and over how long. Wiremi packages your standing, never your identity.
- 02
Wiremi prices it
We assess your record and set the rate. The offer names what set it: your score, and your circle contributions.
- 03
You accept or decline
Neither side negotiates. Accepting sends the request out for funding at that rate.
- 04
One benefactor funds it
A member approved as a benefactor funds the whole amount at that rate, from their own capital. Nothing leaves their wallet before they do.
Borrowing
The offer tells you what set it.
A loan offer is attributed on screen: the score, the count of on time circle contributions, and the fact that no bureau file was involved. If your rate is 14%, you can see exactly what made it 14%.
An active loan shows the whole schedule, what has been filed, and what each on-time repayment did to your score. Settling early is a first-class flow, not a phone call: you get a payoff figure for today and the remaining interest is waived.
Peer benefactors
You lend. Wiremi facilitates. That is the whole role.
Lending on Wiremi is two-sided. Members put their own capital behind other members and become the lender of record. Wiremi acts as your agent for a disclosed fee, and that is the limit of what we do.
You choose which loans to fund, and you fund each one in full. You never choose the price, and you never see who the borrower is. Anonymity runs both ways.
Every loan is priced from a record of promises kept, and Wiremi collects every instalment on your behalf. The lending is unsecured: Wiremi does not guarantee loans and they are not CDIC insured, so the benefactor carries the risk. Any recovery comes back to you pro rata after costs.
How a loan is funded
One benefactor, one whole loan.
Wiremi prices the loan from the borrower’s tier and record. A benefactor sees the amount, the term, the rate and the borrower’s band, never their name, and funds the whole loan or passes.
Repayments come back to the benefactor’s wallet as the borrower pays, and the portfolio shows what is out with borrowers, what is free to lend and what has been earned.
The agreement
Consent is a document with a version, not a row of checkboxes.
The peer benefactor agreement is five articles under Ontario law. You open it, you read it, and accepting inside the document is what ticks the box. One accept, one optional signed copy by email.
- ART 01
You lend your own money
and you are the lender of record.
- ART 02
Wiremi acts as your agent
for a disclosed fee, and that is the limit of the role.
- ART 03
The lending is unsecured
the benefactor carries the risk, with no guarantee and no CDIC coverage.
- ART 04
Wiremi prices the loan
the borrower accepts, and you choose which requests to fund.
- ART 05
Recoveries are pro rata
after costs. Stop funding any time; live commitments run to term.
At Anchor, the top tier
Capital and earnings, kept apart
In either direction
Questions people actually ask
- Can I negotiate my rate?
- No, and neither can the people funding you. Wiremi prices every loan from the borrower’s tier and record. Removing the negotiation is what lets a stranger fund your loan without ever learning who you are.
- Do benefactors find out who they lent to?
- Never. A request shows the Community Credit score and the circle record, no name, no employer, no address. The borrower does not learn who funded them either.
- What happens if a borrower defaults?
- Wiremi follows up every missed instalment and returns any recovery to the benefactor pro rata after costs. The lending is unsecured and not insured, and Wiremi does not guarantee loans, so the benefactor carries the risk on what is not recovered.
- Can I stop lending?
- At any time. Stopping means no new loans are funded from your wallet; commitments already live run to their term.
- Does lending help my own score?
- Yes. Loan conduct is 25% of Community Credit and it counts loans repaid as a borrower and loans funded as a benefactor.
- Can a circle lend its reserve?
- This is coming. A circle will be able to lend its reserve to its own members, under a cap it sets and a vote it carries. How circles work.
Peer benefactors
Somebody has to believe the record you built.
A peer benefactor puts their own money behind a record of promises kept. Wiremi prices the loan from that record and collects every instalment. The lending is unsecured and not insured, and we say so on the screen before anyone funds.
Both sides