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Online Loans In Ontario

You need some cash. So put on your bowler hat and long tweed coat and take the trolley to First Ontario Loan.

Wait. It’s the 21st century. You can get a loan online with Magical Credit!

No traffic, no rain, no lineups – do everything from the comfort of your home computer and have funds deposited directly into your bank account. And don’t worry if your credit score isn’t so hot – Magical Credit specializes in online loans for bad credit.

Being an online lender, Magical Credit takes great effort to ensure privacy and security. We use 128-bit SSL encryption, a bank-standard, in all information-sensitive communications. We are also monitored by Verisign – industry experts in internet security.

Our loan application is so safe and simple, your grandma can do it (but if she needs a little help, we have live operators on standby). So why wait? Get approved for an online loan in as little as 5 minutes!

I want to borrow:


Why Get An Online Personal Loan?

  • Telecom Bills – They’re so expensive! And their customer service is so terrible! I hear internet in Asia is blazing fast and super cheap and Wi-Fi is everywhere…sigh. Magical Credit can help keep these heartless companies off your back while we wait for Ontario to catch up with the rest of the world.
  • Rent – Keep the landlord happy – it’s a lot easier to ask for maintenance repairs when you’re on good terms.
  • Pet Care – Our pets make us so happy. So it’s only fair that we keep them happy. Unfortunately, pet care isn’t cheap. Trips to the vet, premium food, clothes that make them look like people – it all adds up.
  • Dental Care – You can’t fully enjoy Toronto’s fine dining scene if you have a toothache. And too much Ontario wine will stain those pearly whites. Go to the dentist and take care of your teeth!
  • Travel – There’s an excellent last-minute-online-only deal for a resort vacation. You just missed it. But you can get the next one. Apply for a next day loan in as little as 5 minutes!

Online Loan FAQs

Are your online cash loans secure?

Yes, Magical Credit’s online loan application process is designed to ensure privacy and security. We use bank-level, 128‐bit SSL encryption and are monitored and verified by Verisign, the leader of online site security.

What do I need to apply?

In order to apply, you need the following:

  • Be 18 years or older
  • Valid bank account
  • Proof of income
  • Valid ID
  • SIN
How will I receive my short term loans in Ontario?

Your funds will be deposited directly into your bank account.

Do I need to be employed?

You do not need to be employed to qualify for an online loan from Magical Credit. We accept government subsidies (i.e. EI, CPP, baby bonuses), as well as private income from pensions or maternity benefits. As long as income is direct deposited into your bank account month to month, you will be considered for a Magical Credit loan. For a list of income types we accept, visit our who qualifies page.

Do you lend to people with bad credit?

Yes, Magical Credit specializes in online loans for bad credit. Our decisions are not based solely off of credit score. If you receive at least $600 a month via direct deposit, we will consider you.

How much income do I need to qualify for a loan in Ontario?

If you are receiving at least $600.00 a month, and it’s paid to you via direct deposit, we will consider you.

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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