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Need Emergency Funds? Apply For An Emergency Loan In Newfoundland Today!


Emergency Loans For Bad Credit Applicants In Newfoundland

Life throws us curve balls in the form of unexpected expenses. From flooded basements to car accidents, the cost of unforeseen expenses can be a financial burden – especially if you have bad credit.

If you have poor credit and need emergency funds to cover the cost of unexpected expenses, Magical Credit is the short-term solution for your financial setback. We specialize in emergency loans for bad credit applicants living in Newfoundland.

Unlike banks, we don’t make our decisions solely on your credit score; instead, we look at your entire credit history before determining your eligibility. Best of all, our application process takes as little as five minutes to complete!

If you need an emergency loan in Newfoundland but are unsure you can keep up with the loan repayment terms, you can plan your monthly loan payment schedule with our short-term, personal loan calculator!

I want to borrow:


Why You Might Need An Emergency Loan In Newfoundland

  • Unexpected Job Loss – In today’s fragile economy, company layoffs are becoming increasingly common. For many, unemployment benefits don’t provide enough transitional support to cover expenses. An emergency loan can provide your family with much-needed security until you find your next gig.
  • Newborn Baby – Having a child isn’t cheap. On average, new parents can expect to spend at least $50 a week on diapers, formula, and other necessities. An emergency loan can help new parents cover the cost of big-ticket items such as strollers and car seats.
  • Dental Expenses – Even though Canada’s public healthcare offers Canadians basic medical coverage, it doesn’t include dental care. Whether you need a root canal, new filling, or dental veneers, an emergency loan can help preserve your smile.
  • Debt Consolidation – Having several little bills to manage is one big headache. Make life easier by consolidating your debts into one easy-to-manage monthly payment!

FAQs - Emergency Personal Loans In Newfoundland

How long does it take to assess my emergency loan application?

Loan applications are processed within one business day. You’ll receive an email confirmation from us within 24 business hours.

If I don't have bad credit, can I be automatically approved for an emergency loan?

Sorry – even though we offer emergency loans to bad credit applicants, we can’t guarantee any loan approvals. If you’ve previously defaulted on a consumer proposal, have loans in collections, or recently filed for bankruptcy, you won’t be eligible for a loan.

Do you have loans for low-income people with poor credit?

Yes, we offer bad credit, emergency loans in Newfoundland. Unlike banks, we don’t evaluate candidates solely on their credit score; instead, we assess their eligibility based on their entire credit history.

I receive $100 monthly via direct deposit, am I eligible for an emergency loan?

No – you can only qualify for an emergency loan if you receive a minimum of $600.00 a month via direct deposit.

What is your interest rate?

We offer a 3.9% fixed-monthly interest rate.

If I don't get approved for the emergency loan I want can I apply for something smaller?

Yes, we’ll let you know if you qualify for a smaller emergency loan.

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!

Loan Example

1 Year
Interest Rate (46.8%)
Total Cost of Borrowing
Total Due End of Term
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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