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Emergency Loans In Canada

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!

I want to borrow:


Why You Might Need An Emergency Loan

  • Automotive Expenses & Maintenance – Your car is essential to get to work, to pick up the kids, and for social outings. If a tire gets punctured, or your engine gives out, an emergency loan can get you back on your feet (well, you know what we mean).
  • Dental – We Canadians know all too well about dental emergencies, like knocked out teeth, a lost filling, or a broken jaw – hockey is our nation’s sport after all.
  • Home Renovations – Leaks, cracks, breaks, scratches – your house will need maintenance some day. Emergency loans can fix those little problems before they become big (and expensive) ones.
  • Appliance Repair & Replacement – If your fridge breaks down, it’s costly in more ways than one. This isn’t the 1930’s, so you probably don’t have an icebox in your basement – emergency cash can potentially salvage your expensive appliances (and your leftover, boiled celery).
  • Debt Consolidation – Would you rather take on 100 small bills, or a singular, large, consolidated one, head-to-head? If it’s the latter, apply for an emergency personal loan now!

Can I Get Emergency Money In My Province?

If you’re in need of Emergency Money in any of the following provinces, we can help. Apply now!

  • Ontario
  • Alberta
  • British Columbia
  • New Brunswick
  • Nova Scotia
  • Nunavut
  • Prince Edward Island
  • Yukon

Emergency Loans FAQs

I applied an hour ago. How long does it take to get an email confirmation?

Once you submit your application for an emergency personal loan, a representative will get back to you within a maximum of 24 business hours.

Is it guaranteed approval?

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.

Do you help people with bad credit?

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.

What’s the process to get a loan?

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.

What’s the interest rate on emergency personal loans?

Our interest rate is 3.9% monthly.

If I can only get approved for less than what I applied for, will I be notified? Or is it just a ‘no’?

We’ll let you know if you qualify for a smaller emergency loan, too.

Can you help us consolidate some large debts into one monthly payment?

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.


I am brand new to magicalcredit and it has been a pleasure talking to every representative. They are so polite and kind and it is great to have a number to call and get a response quickly. This is the start of a great banking/credit relationship. They have made my day and reignited my hope. Thanks magicalcredit!! Have a magical day!😁

Magical Credit is truly amazing! Their assistance has been a real lifesaver for me. The staff is incredibly friendly and supportive, and they made the entire process a breeze. I wholeheartedly recommend Magical Credit to anyone seeking financial help. They are the best!

The application is very fast easy quick it took me 10 mins to fill it out they responded to my application right away and I was approved in a matter of a couple hours. When talking to the agent she was very helpful and very clear on what they needed to approve my application. Thank you Magical Credit

Very fast and easy to get a loan I needed help and help was given right away . Very polite staff I was doubtful at first but in about 30 minutes was approved for more then I asked for. Which I can use because school shopping for more then one kid isn't cheap . I'd definitely recommend this company . Thank you so much

They made the experience easy and every person I spoke with which I think it was in total of four may have been up to 5 each one was knowledgeable more than willing to help as I am not the world's most tech person out there and even though I filled out some stuff wrong they contacted me right away to say hey we're having trouble with this can you help us out about why we're having trouble and got it sorted out within seconds just all in all a beautiful experience definitely five out of five

I had a great service! Staffs are very responsive and easy to talk to esp NATALIE! She's very nice and very professional, explained everything to me, I was approved for a loan but I needed a little more so she managed to have me approved for the amount I needed, also, It was very fast, i got the funds the next day! Thank you so much guys!

Great staff, fantastic service! Very reasonable interest rates and also flexible payment plans. Got my money promptly. These guys are simply amazing!

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!


Magical Installment Loans: We offer installment loans in the amount of $1,500- $20,000 that have a 12-60 month term with an APR 19.99% min - 46.8% max. On $1,500 borrowed for a 1 year term at 3.9% per month, the total cost of borrowing including a $194 fee is $896.00. The total amount to be paid back with interest and fee is $2,396.00. AB License #349796 and BC License #83626

NOTE: Our installment loans are open, so 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.

Magical Cash Loans - Ontario, British Columbia, 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 $15.00 per $100.00 for each $100.00 borrowed. On a $1,000.00 loan for 14 days, the cost of borrowing is $150.00. The total to payback is $1,150.00 which is an annual percentage rate of 391.07%. ON License #4741412. BC License#85919.

The 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 will impact your future credit with Magical Credit Inc. and other credit lenders. All delinquencies will be reported to the Credit Bureaus.

1317 people applied for a loan with us in the last 7 days
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