Emergency Loans - short-term loans that are provided to fulfill an urgent financial need. These loans can have as short a term as 180 days.
Life is full of unexpected surprises. Some things you can try to hedge for with an emergency fund, but other times you’re simply ill-equipped to handle the tree that’s collapsed through your roof.
For expenses that’re impossible to plan for, an emergency personal loan from Magical Credit is the solution to your setback. Regardless of what you need a personal loan for, we look past poor credit or non-traditional sources of income to determine your eligibility. Best of all, you can be approved for your emergency cash advance in just 5 minutes!
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!
If you’re in need of Emergency Money in any of the following provinces, we can help. Apply now!
Once you submit your application for an emergency personal loan, a representative will get back to you within a maximum of 24 business hours.
We do not guarantee approval for emergency cash advances, seeing as every case is different – but that doesn’t mean you’re ineligible for an emergency loan with bad credit.
We accept working income, as well as government subsidies, as long as you are receiving a minimum of $1,200.00 a month in addition to direct deposit income. A denial would be the result of current consumer proposal default on loans, loans in collections, or current bankruptcy.
Yes, we are a bad credit loan lender! And that includes emergency loans for bad credit. We don’t go off your credit score, but your overall report of credit. So we consider other variables like current consumer proposal, bankruptcy, and current loans in collections.
If you’re receiving a minimum of $1,200.00 monthly, and your income is direct deposit, you may qualify for an emergency loan with us.
All you have to do is fill out our online application! It should take approximately 5 minutes to complete. A loan officer will respond to you within one business day. We don’t go off your credit score, but we take your overall credit report into account.
Our interest rate is 3.9% monthly.
We’ll let you know if you qualify for a smaller emergency loan, too.
We unfortunately don’t consolidate our short term loans directly, but you can qualify for a larger loan from us, which you can then use to cover your multiple, smaller debt payments.
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 a 12-60 month term with a fixed interest rate of 3.9% per month.
Example: $1,500 borrowed for one year at 3.9% per month. Monthly payments are $199.05. Total payback with interest and fee of $194.00 is $2,388.54.
NOTE: You can pay off your loan at any time with no penalty. You will only pay interest up to the date you pay it off.