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Get A Bad Credit, Emergency Loan In Ontario Today!


Fast Emergency Loans In Ontario

Life is full of surprises, making it impossible to plan for the unexpected.

Do you have bad credit, and need help covering the cost of life’s unforeseen curveballs, like a company layoff or a car accident? Magical Credit is the short-term solution to your financial setback!

We provide short-term, emergency loans in Ontario for low-income and bad credit applicants. We look beyond bad credit scores and non-traditional sources of income when determining your eligibility for a loan.

Applying for a Magical Credit emergency loan in Ontario is quick and easy. Fill out a 5-minute online loan application, and be approved within 24 hours!

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

I want to borrow:


Why Get A Bad Credit, Emergency Loan In Ontario?

  • Home Maintenance and Repair – Toronto’s housing market is booming, and the average asking price for a detached home is over $1,000,000. Don’t let overdue maintenance and repairs diminish the resale value of your home. Emergency loans can quickly repair leaks and cracks before your home’s value crumbles.
  • Unexpected Job loss – Being laid off is a difficult time for anyone, financially and emotionally. Depending on unemployment benefits and personal savings can only last so long before bills start to pile up again. A short-term emergency loan in Ontario helps provide financial security until you find your next job.
  • Newborn Baby – Having a child is quite costly, especially if you live in Toronto. New parents can expect to spend at least $50 a week on diapers, formula, and food. When you factor in the cost of clothing, furniture, and child care, it becomes overwhelmingly expensive. However, an emergency loan can help ease the financial stress by helping new parents purchase big-ticket baby items such as strollers, car seats, and cribs.
  • Automotive Expenses/ Maintenance – If you live in Toronto but work in Hamilton, driving long distances to work is a reality. If an accident happens on the 407, you’ll need to cover the cost of car repairs and temporary transportation to get to work. An emergency loan in Ontario can get you back on the road as quickly as possible.

Emergency Loans In Ontario FAQs

I live in outside of Canada, can I still apply for a loan?

No. Magical Credit currently offers loans exclusively to Canadian residents.

I don't have a traditional source of income. Can I still apply for an emergency loan in Ontario?

Yes. We offer emergency loans to people who have a variety of income sources. We accept government subsidies (e.g. EI, CPP, baby bonuses), income from pensions, and maternity benefits.

To be considered for an emergency loan you must receive a monthly direct deposit to your bank account.

What is the minimum amount I can borrow?

The smallest loans we offer are $500, rising up to $10,000.

If I have an income of $200 a month can I apply for an emergency loan?

No. If you receive less than $600.00 a month via direct deposit, you will not eligible for an emergency loan.

I applied for an emergency loan an hour ago. How long does the approval process take?

After submitting your emergency loan application, the approval process takes around one business day.

Will my emergency loan be sent directly to my bank account?

Yes. Once your emergency loan is approved, funds will be transferred directly to your bank account.

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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