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Online Short Term Loans In B.C.

You need a loan. Nothing big or complicated, just some cash to cover your expenses.

Skip the banks – they want nothing more than to trap you in some inflexible long-term loan contract. And forget payday loan companies – they want to trap you in their web of interest.

Don’t be trapped! Get a flexible, short term loan 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.

Get a short term loan today for up to $10,000. You can be approved in 5 minutes!

Need a quick, 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:

$500
$10,000

Why Get A Short Term Loan?

  • Phone/Internet – C. telecoms are the worst. With all the money they collect, you’d think they’d offer a quality product and good service, but they don’t. Unfortunately, you have to pay their bills anyways because a) you don’t want to be a hermit and b) you don’t want to be sent to collections.
  • Hockey – There’s nothing better than watching the Canucks live. Treat yourself to a few games this season with a Magical Credit loan and watch them destroy the Flames in person!
  • Rent – Vancouver is the most expensive Canadian city to live in. A short term loan from Magical Credit can help keep you on good terms with your curmudgeonly landlord.
  • A Nice Dinner – You deserve a nice meal every now and then, and Vancouver has some of the finest cuisines in the world. Put down that Cup Noodle and get some real food in your body!

Online Short Term Loan FAQs

How long are your short term loans?

We offer open loans with 12 & 24 month terms. An open loan means you only pay interest to date, and you can pay off your loan whenever you like without penalty.

What’s your interest rate?

3.9% a month.

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?

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.

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!

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.

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