Apply For A Short Term Loan In Alberta

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Looking for a Short Term Loan in Alberta?

You’re between jobs. There’s a contract on the horizon, but nothing’s coming in until then and you’ve got bills to pay. Or maybe you’re regularly employed, but your car engine gave out after a particularly brutal winter. Whatever the reason, you need a short term loan. Nothing complicated, nothing you’re locked in to – just some cash to cover some expenses.

Skip the bank lineups and document signing. Forget the payday loan companies and their unreasonably high interest rates.

Instead, get a flexible short term loan in Alberta from Magical Credit. We offer open loans, meaning that you only pay interest to date, and not the full term. Unlike banks, you can pay off your Magical Credit loan whenever you like, without penalty.

Apply now for a quick, short term loan up to $10,000, and you can be approved in 5 minutes!

Need a short term 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!

I want to borrow:

< $2000 >
$500
Min
$10,000
Max

Why Get A Short Term Loan in Alberta?

  • Phone Bills/Internet – Alberta telecoms are the worst – you know which ones we’re talking about. But you have to pay those bills. If you don’t, these heartless companies will send you to collections and report you to the credit bureau.
  • Cell phone/Computer – Is your phone/computer starting to slow down a little? Don’t wait until it breaks to replace it, because then you’ll be in a mad rush to get a new one and you’ll pay anything, even (gasp) retail prices.
  • Sports – Oilers, Flames, Stampeders, Eskimos – you love seeing them live, but you don’t love paying for it. The tickets are expensive. The parking is expensive. Don’t get us started on how expensive the food is.
  • Clothes – Never skimp on your work clothes, especially if you work outside. A small, short term loan can buy boots that’ll keep your toes warm and protected by a layer of steel (just like a knight).

Online Short Term Loan FAQs

How long is a short term loan?

We offer 12 & 24 month terms. You can pay off your loan whenever you like, without penalty.

How much can I apply for?

We offer small, short term loans starting at $500 up to $10,000.

I have bad credit. Will you lend to me?

Yes, we offer short term loans for bad credit. As long as you receive $600 a month via direct deposit, we will consider you for a loan.

I’m unemployed. Will you lend to me?

Even if you’re unemployed, Magical Credit will lend to you. We accept government subsidies (e.g. EI, CPP, baby bonuses) as well as income from pensions or maternity benefits. As long as you receive $600/month via direct deposit, we will consider you for a loan.

Visit our who qualifies page for a list of acceptable income types.

What do I need to apply?

You need the following:

  • Be 18 years or older
  • Valid bank account
  • Proof of income
  • Valid ID
  • SIN
How much income do I need to qualify for a short term loan?

If you regularly receive $600/month via direct deposit, you may qualify for a short term loan.


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.