With
the rise of online lending, the notion of ‘guaranteed loan
approvals’ has become more and more common both as a marketing
tactic, and unfortunately, in many cases as a scam. As a standalone
concept, ‘guaranteed approvals’ sound great, particularly for
borrowers who may not have the credit history or score required by
conventional lenders such as banks.
However,
most credible personal
loan lenders (conventional or alternative) will likely not
advertise guaranteed approval for the simple reason that loans come
with specific risks to both the lender and the borrower. Before
providing approval, a legitimate lender will ensure that they conduct
the right checks and due diligence to protect their own capital, but
also prevent borrowers from taking on financial burdens they may not
be equipped to take on.
What
is the purpose of an education loan?
If
you are currently working at a job and want to take the next step in
your career, a common way to do so is by going back to school to
acquire additional knowledge and skills. Read More
An
Overview of Unexpected Expenses
No
matter how diligently we plan our finances and expenses each month,
there are always going to be some expenses that we did not or cannot
foresee. Read More
A
credit report is a summary of all your credit activity. Your
creditors (i.e., people to whom you owe money, such as banks or other
lenders) report your outstanding credit balances and repayment
histories to credit reporting agencies, such as Equifax or
TransUnion; these credit agencies then use this information to build
your credit report and assign you a credit score ranging from 300 to
900.
As
people around the world welcome 2022, resolutions are made for the
new year, touching on weight, diet, careers, and etc. – as well as
the decision to set stronger financial goals than the year before.
What
is a payday loan?
A
payday loan is a short-term, high-interest loan designed to cover a
borrower’s immediate cash requirements if they do not have healthy
credit, funds on hand, or access to other sources of cash such as a
personal line of credit. Read More
Magical Installment Loans: Installment loans are available to eligible residents of Ontario and range from $1,500 to $20,000. Repayment terms range from 12 to 78 payments, with flexible payment schedules available as weekly, bi-weekly, semi-monthly, or monthly.
Example: A $5,000 loan repaid over 36 monthly installments would require payments of $300.40 per month.
NOTE: Loan amount and payment amount are subject to change upon final loan approval. Interest rate for Personal Loans is calculated at 34.86%. The Repayment amount includes optional Loan Protection Plan coverage.
Magical Cash Loans - Ontario, British Columbia, Alberta, Northwest Territories, Nunavut, and Yukon Residents only: We offer Magical Cash Loans in the amount of $100-$1,500.00. The cost of borrowing is $14.00 per $100.00 for each $100.00 borrowed. On a $1,000.00 loan for 14 days, the cost of borrowing is $140.00. The total to pay back is $1,140.00, which is an annual percentage rate of 365.00%. ON License #4741412. BC License#85919AB License#358423.
The Loan must be paid in full by the end of the term, with no extensions or exceptions, and no automatic renewals. Failure to pay your debt on time will impact your future credit with Magical Credit Inc. and other credit lenders. All delinquencies will be reported to the Credit Bureaus.
Our Family of Brands: Whether you need personal funding, business advance, or short-term cash support, our family of brands offers financial solutions designed to fit your needs.
-Magical Credit: Personal Loans and Installment Loans available through Magical Credit.
Apply Now: https://www.magicalcredit.ca
-Magical Business: Merchant Cash Advances and business funding solutions available through Magical Business.
Apply Now: https://www.magicalbusiness.ca
-Magical Cash: Payday Loans and short-term cash solutions available through Magical Cash.
Apply Now: https://www.magicalcash.ca
