If you need money fast in Ontario, take 5 minutes and apply for a cash loan.

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Same-Day Cash Loans in Ontario

If you have bad credit or a low income, being approved for a credit card may be a distant pipe dream, and getting a payday loan means you may as well accept a decade’s worth of debt.

Abracadabra, Magical Credit specializes in bad credit, same-day cash loans in Ontario! We offer online direct deposit loans with 24-hour-approval when you need money fast, helping you keep up with the rising costs of food, rent, hydro, and everything else you need to be a functioning member of society.

Click here and apply for a cash loan in 5 minutes!

I want to borrow:

< $2000 >
$500
Min
$10,000
Max

How Fast Cash Loans in Ontario Can be a Quick Solution to Your Money Woes

  • Debt Consolidation – Car insurance through the roof? 407 bill astronomical? Landlord raise your rent? Take out a quick cash loan from Magical Credit, and your several nagging debts will turn into one easy-to-manage payment.
  • Redecorating – Everyone’s coming to your apartment for the holidays, and your dining room table from Value Village has fallen apart. Get an easy loan from Magical Credit, so your holiday guests have somewhere to eat besides someone else’s cast-off furniture.
  • Dental Emergencies – A rough hockey game in Lindsay came at the expense of a few teeth, which won’t be a good look at your job interview in two days. Magical Credit’s same day cash loans in Ontario can restore your winning smile to charm your interviewer.
  • Wedding Expenses- Have you seen how much it is for a wedding in Toronto these days? Tens of thousands of dollars is an understatement! A Magical Credit cash loan in Toronto can cover you and your special someone’s big day.

Ontario Cash Loans FAQs

Can I get straight cash if I don’t have a bank account?

No—while Magical Credit offers quick cash loans in Ontario, it’s delivered via direct deposit loan into your bank account.

Am I paying extra interest for the 24-hour loan approval?

No—all of our loans have 24-hour loan approval and an interest rate of 3.9% per month.

I am currently collecting EI, can I still be approved?

Yes—Magical Credit approves applicants collecting traditional and non-traditional sources of income.

I’ve previously gone bankrupt, but had it discharged, can I still apply?

Yes—we specialize in bad credit cash loans in Ontario, including bad credit applicants who have had bankruptcies discharged. We weigh your overall report of credit, not your credit score. We won’t loan to you, however, if you have previously defaulted on a loan.

You’re talking a lot about Toronto, can I still get a cash loan if I live in Ottawa?

Yes—we do same day cash loans in Ottawa, and all of Canada – other than Manitoba and Quebec.

How long does it take to pay off my cash loan?

Our terms for our cash personal loans are anywhere between 6-24 months, but use our short-term loan calculator to calculate your repayment schedule!


Need an emergency loan, but aren’t sure you can keep up with the loan repayment terms? Calculate your monthly loan payment schedule with our short-term, personal loan calculator!

Our loans are considered short-term loans and have up to a 12-24 month term with an interest rate of 3.9% per month.
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.
Terms and Conditions: (APR 23% min - 59.7% max) Loan amortization is between 12-24 months. Loan must be paid in full by the end of term, no extensions or exceptions, no automatic renewals. Failure to pay your debt on time with impact your future credit with Magical Credit Inc. and other credit lenders. All delinquencies will be reported to the Credit Bureau.