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Please be aware Magical Credit will not request you to send any upfront fees in order to get a loan from us. If you are contacted by anyone requesting this by email, text or phone, please call us immediately at 1-877-213-2088.

Have a job, but your credit’s bad? Apply for an employment loan in only 5 minutes!

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Employment Loans in Canada

When you’re working 40-50 hour weeks, you can still run into financial trouble. Your bank account could be sitting pretty until an unexplained smoke starts emanating from your laptop, and now you’ve got to drop several thousand dollars on a new piece of technology.

If your salary isn’t enough to cover unforeseen expenses like malfunctioning electronics, Magical Credit will get you back on track! We are short term lenders who don’t intend on having you pay off your loans longer than you have to, and if you happen to have bad credit you can still qualify for an employment loan with us!

Figure out how long it’ll take to get back on track with our short-term, personal loan calculator!

I want to borrow:

< $2000 >
$2,000
Min
$10,000
Max

Why You Might Need an Employment Loan

  • Increase in Bill Payments – Managing your budget responsibly is all well and good up until there’s an increase in provincial hydro costs. You’ll either have to forego showers, using lights, or cooking with electricity. Or, you can just take out a personal employment loan to help you keep up with your personal hygiene.
  • Household Appliance Purchases or Repairs – You can only air dry your entire wardrobe for so long before it becomes a bit of an inconvenience. And no, blowing on your clothes won’t make them dry faster. You might finally have to spring for a dryer. An employment loan from Magical Credit will ensure you don’t have to go to endure wet pleated pants.
  • Traveling – If you’re working full time you’ll always benefit from time off, and for some, a stay-cation isn’t the answer. Unfortunately, wander-lust costs, especially with those increases in your bills! You’ve been working hard and you shouldn’t miss out, so let Magical Credit fund your getaway with an employment personal loan.
  • Replacing your automobile – Changing jobs and suddenly facing a hectic work commute, and your trusty “A to B” beater isn’t doing the trick anymore? You’ll need an efficient vehicle, and some quick cash for the first payment. Our employment loans will have you on the road and on your way to the new gig.
  • Computer/Laptop purchasing – These days, our entire lives are wrapped up in technology. You do your banking, your business and your entire communication on lap tops and computers. If our tech goes on the fritz, we’re lost, and to replace them costs some serious coin. Fortunately, employment loans from Magical Credit can cover technological snafus without send you into overdraft.

Employment Loans FAQs

Can I get a bad credit employment loan? Yes, our business is based on bad credit loans.
How much are your interest rates? The monthly interest rate is 3.9%.
How do I apply for an Employment personal loan from Magical Credit? By filling out our application. It only takes a few minutes and we will follow up with you to inform you of your application status.
If bad credit isn’t a factor, how do you weigh loan candidates? We accept loan candidates based on their overall report of credit, not their credit score. We also weight bankruptcy, current consumer proposal, and current loans in collections.
Do I have to earn over a certain amount to qualify for an employment loan? While your income restricts how much we can loan you, Magical Credit specializes in low-income loans. We also accept candidates with any source of income, traditional or non-traditional.
What is the minimum amount of money that you’ll loan? The lowest amount we’ll loan $500, while the highest is $10,000.
How can I figure out my monthly employment loan payments? You can figure out your employment loan monthly payments with our short-term loan calculator!

Figure out how long it’ll take to get back on track 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.