When it comes to taking out a bank loan, there are often protocols and systems in place – a long bureaucratic process that gets pushed from person to person, department to department. Inevitably, after hours of waiting you will be told that the bank won’t approve you for a loan because of a bad financial decision you made years ago.
Maybe it’s time you considered using a private lender in Ontario for bad credit.
At Magical Credit, we offer private loans for people with poor credit. We remove the entire bureaucratic process that banks make you suffer through. We don’t base our decision on your credit score, but your entire credit history, making it easier to get a private loan.
So if you need help paying bills, you can either wait hours for a bank loan to hear, we’d love to help you, we just can’t. Or you can fill out Magical Credit’s online application, and be approved in as little as 5 minutes!
Need a private 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!
A private loan is a loan from a private lender or institution (not a bank or the government). Private loans are often much faster, more accessible, and more accommodating.
Yes we do. Because we believe in education, we offer private student loans, even when the banks won’t.
If you do not have a bank account, you will be ineligible for a private loan. We require an income of at least $600/month that is directly deposited into your bank account.
You need a minimum $600 monthly income.
Yes! As long as you’re making $600/month, it doesn’t matter if it’s via government subsidies or grants, or a professional income. If it’s directly deposited into your account, you can be eligible for a private loan.
Absolutely! We are a poor credit loan company, meaning that we consider overall credit history, and current financial situation, rather than just a credit score. This makes it easier to get a private loan when you need help paying bills. So if you need a poor credit loan, it’s still worthwhile to apply for a loan – you may be in a better position than you think.
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!
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