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Private Loans in Alberta

As Albertans, we know how awesome our province is. We have the largest mall in the Americas, one of the world’s Seven Wonders, Moraine, and a place called Head-Smashed-In-Buffalo-Jump.

But all of these places involve spending some money for the experience, and if you’re not appreciating Alberta’s offerings because of its cost, you might as well live in Ontario. Yikes.

If you have bad credit, you need a quick, private loan in Alberta to truly to appreciate our province the way it was intended to.

Magical Credit offers private loans in Alberta for applicants with poor credit, who have either been turned down by the bank, or just don’t want to deal with them. So fill out our online application, and in as little as 5 minutes, you can be on your way to a staycation you’ll never forget!

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:

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

Why Would You Need a Private Loan in Alberta?

  • You hate the banks: Don’t we all. If you just need a quick loan from a private lender without the wait, credit check, more waiting, ‘please come in’, ‘I’ll have to get my manager’, more waiting, bureaucracy, and eventual refusal…don’t get a bank loan! Magical Credit can get you a quick, private loan in Alberta in as little as 5 minutes!
  • To take advantage of our province: As Albertans, we don’t need lavish vacations to Central Asia or the Himalayas. We just get in our car, and drive to our Rockies. But a vacation to the Rockies should be done right. Our Alberta loans will allow you to do all the activities you want, to make your trip memorable.
  • Tuition: School is expensive. Magical Credit’s private student loans in Alberta can help you if tuition is just a little beyond your financial means.
  • Bill consolidation: When need help paying bills, Magical Credit’s private loans can give you the money you need to ease some of your financial stress.
  • West Edmonton Mall, Chinook Mall, etc: The Alberta shopping scene is the real deal. It’s part of what makes living here so great, so take advantage! Our private loans in Alberta can keep you updated on all latest trends and fashions.

Private Loan FAQs

What is a private loan?

A private loan is a loan that is not given by the bank, but rather, by a private lender or institution. They are often faster, easier, and more accommodating.

Why wouldn’t I get a bank loan if they have better rates?
  1. The bank only has better rates if you have good credit.
  2. The banks won’t even consider your application if you have poor credit. A private lender might.
  3. Asking for a loan from the bank can be incredibly time consuming, and something that should be as simple as a quick approval and transfer can take longer than necessary. Magical Credit’s private loan online application takes only 5 minutes to fill out, and only 24 hours to be approved.
Do you offer private student loans in Alberta?

Yes. Our private loans can be put towards an indulgence, or an education. We try to make the approval process as easy as possible, to get you the education you need.

I have bad credit, but I still need help paying bills. Can I still apply for a loan?

Yes! We are a low-income, poor credit loan company, meaning we don’t only check your credit score, but we consider your entire credit history. This makes it easier to get the loan you need, so you can get on with your life.

I live out of Alberta. Can I still apply for a private loan?

Absolutely. We offer private loans to people living all over Canada, except Manitoba and Quebec.

What is the minimum income I need to be considered for a private loan in Alberta?

You need a minimum direct deposit income of $600 monthly. Whether that’s by means of an employer, or a government subsidy, is irrelevant.

What am I going to need to apply for a loan?
  • Bank account information
  • Proof of direct deposit income
  • Valid ID
  • SIN

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!

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.