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Top 3 Things to Know Before Taking Out a Loan

by Magical Credit

Are you thinking about taking out a loan, but aren’t sure where to start? Personal loans can be great financial assets, allowing you to tackle unexpected expenses or embrace new opportunities - but you need to be a responsible borrower. Read More

What Do I Need to Apply for a Loan?

by Magical Credit

If you’ve never had to apply for a loan before, it can seem a little daunting, but it’s even worse if you have to apply for a loan with bad credit history. Read More

Ridiculous Reasons to Apply for a Loan

by Magical Credit

As Canada’s leading high-risk lenders, we’ve seen our fair share of loan requests ranging from the absurd, to the bizarre, to the ‘wtf’? We could tell you about the man who demanded a cash loan in order to fly to Vegas and solve a murder mystery. Read More

Loan Example

Term
1 Year
APR
56.50%
Amount
$2,000.00
Fees
$194.00
Interest Rate (46.8%)
$936.00
Total Cost of Borrowing
$1,130.00
Total Due End of Term
$3,130.00
NOTE: You can pay off your loan at any time with no penalty. You will only pay interest up to the date you borrow it.

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