Get Approved For A Medical Loan In Canada In 5 Minutes Or Less

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Think Of Us As ‘Medical’ Credit. We Offer Medical Loans for People with Bad Credit

Medical Loans. Medical procedures can run into the thousands, representing a large upfront cash outflow. Medical loans are used to fund these costs and provide time for the borrower to repay.

When you or a loved one is sick, or needs any kind of medical attention, there is nothing in the world that you wouldn’t do to ensure they have all the necessary care.

Costs of medical financing  are some of the most expensive bills you will ever have to pay. And while Canada’s Public Healthcare medical reimbursements often alleviates financial burdens, its basic coverage won’t cover therapy, chiropractic services, dental, ‘elective’ surgeries, eye care, prescription drugs, and more.

What options, then, are Canadians left with?

They can either do one of 2 things:

  1. Delay the treatment from the dentists or doctors they desperately need.
  2. Get medical financing for the treatment, but be saddled with a high-interest, healthcare loan.

Magical Credit Canada's Medical Loan Lender offers a 3rd option.

We provide bad credit medical loans in Canada with reasonable interest rates so you can get the treatment you need, without worrying about medical billing and interest rates snowballing out of control.

Get a medical loan for your treatments today by giving us a call, or fill out our online application – it takes just 5 minutes to complete!

Need a medical loan, but aren’t sure you can keep up with the loan repayment terms?

Calculate your monthly loan payment schedule!

I want to borrow:


Why You Might Need A Medical Loan

  • Visits to the Dentist – The government’s medical reimbursements don’t include dental coupons. And while Canada’s health plan is solid for basic medical coverage, it doesn’t cover dental costs. So unless your dentist is willing to give you an unexpected discount, your oral health will take a hefty toll on your pocket.
  • Chiropractic Services – Ironically, the government will cover surgeries that a good chiropractor would deem unnecessary, but they won’t pay the chiropractor fees. But if back pain is causing trouble sleeping, turn to Magical Credit for a loan that can help get that spring back in your step.
  • Therapy – A physical injury may require some forms of therapy. Whether you need physical therapy, occupational therapy, or acupuncture therapy, the road to recovery is often a lot longer than just a visit to the doctor (or the bank).
  • Prescription Drugs – Sadly, 1 in 10 Canadians can’t fill prescriptions because of its expense. If they knew about Magical Credit financing, they’d be able to take out a medical loan and continue their treatment the way the doctor instructed them to.
  • Assisted Living – Someone in need of assisted living should never be denied. There are, unfortunately, countless scenarios where they are. Magical Credit can offer healthcare loans to help you provide the assistance your loved one requires.

Can I Get Other Medical Needs In My Province?

If you’re in need of Other Medical Needs in any of the following provinces, we can help. Apply now!

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

Medical Loan FAQs

It only takes a maximum of one business day, and then we’ll let you know.

It only takes a maximum of one business day, and then we’ll let you know.

I have a job, and an income. Does that mean I will definitely be approved?

It certainly makes your application look good. But no, it does not guarantee approval for a medical loan. While you may have a direct deposit income of over $1,200 monthly (our minimum), if you have any kind of loans in collection or bankruptcy, we won’t offer you medical financing.

I have a direct deposit income almost entirely made up of government subsidies. Can I still apply for a medical loan?

Yes, you can! Our minimum direct deposit income requirement of $1,200 includes both a professional income and an income through government services (as long as it is directly put into your bank account).

How should I go about getting a loan?

First, fill out our online application. It should only take you around 5 minutes to complete, and you should have a response within 24 business hours.

If I have bad credit, is it still possible to be approved for a medical loan?

We are a bad credit loan company, so yes! We take other things into consideration other than your credit score, like your credit history. If you have a history of unpaid loans, it will negatively affect your chances of taking out a loan.

If I don’t know what medical reimbursements the government will give me, is it possible to take out more than I need, and then return whatever I don’t use without the added interest?

Unfortunately, once you take out a medical loan, we will start charging 3.9% monthly interest. It doesn’t matter if you don’t need as much money as you applied for – once a loan is given, it’s final.

If I am not approved for a healthcare loan to cover the all my medical or bills, but I would be approved to partially cover the medical/dental bills, will you let me know?

Yes. If you are denied what you applied for, but you could be approved for less, we’ll let you know.

If I don’t have a bank account, can I apply?

You won’t be approved unless you have a Canadian bank account, because one of our requirements is that you receive $1,200 minimum monthly income that is directly deposited into your bank account.

Which pieces of ID can I use for my application?

  • Valid Canadian Driver’s License
  • Valid Canadian passport
  • Certificate of Canadian Citizenship
  • Certificate of Indian Status
  • Canadian Permanent Residency Card
  • Old age security Card
  • Photo Health Card and Birth Certificate or Social Insurance Card
  • BYID Card (LCBO) and Birth Certificate or Social Insurance Card

Service Canada is now issuing SINs in paper format (confirmation of SIN letter). Production of the plastic SIN card has stopped, however, SIN cards that are not expired and are currently in circulation can still be used.


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 a medical loan loan in Canada, but aren’t sure you can keep up with the loan repayment terms? Calculate your monthly medical loan payment schedule with our 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.

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