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Need Cash Now? Get A Short-Term Loan in PEI

When you need money fast, don’t go to the bank. They’re stingy with their cash; if they see the tiniest financial discrepancy on your credit history, you’ll face surefire rejection, which is terrible for your credit.

Unlike banks, Magical Credit specializes in flexible, short-term personal loans for bad credit applicants in PEI. We offer open loans, meaning you only pay interest to date and not the full term, if you choose to pay off your loan early.

You can be approved for a short-term loan in as little as five minutes. Apply today!

Keep up with your short-term loan repayment terms by calculating your monthly loan payment schedule with our short term personal loan calculator!

I want to borrow:

< $2000 >

Why Get a Short Term Personal Loan in PEI?

  • BillsSometimes you go to bed, and wake up to a tidal wave of bills you just can’t afford. If you need some breathing room, take out a debt consolidation loan in PEI, and turn your many bills into one monthly payment.
  • Automotive Expenses & Maintenance –If your carburetor suddenly goes kaput, you can’t let bad credit and a lack of funds stop you from getting repairs. A short-term loan will get you back on the road!
  • Moving ExpensesMoving is as expensive as it is stressful. A short-term loan can cover the cost of new furniture, storage rentals, and moving trucks. Oh, and don’t forget pizza and beer for your helpful friends.
  • Travel Across CanadaFrom St. John’s to Victoria, you need to see all that Canada has to offer. Get a short-term loan from Magical Credit, and cover the cost of travel and accommodations anywhere you go.

PEI Short Term Loan FAQs

Will I be considered for an easy short-term loan even if I have bad credit?

Yes—our short-term loans are ideal for bad credit applicants living in PEI. We don’t base our decisions solely on your credit score, but your entire credit history.

Can I still be eligible for a short-term loan if I’ve lost my job?

Yes—Magical Credit accepts traditional and non-traditional sources of income. We accept government subsidies (e.g. EI, CPP, baby bonuses), as well as income from pensions or maternity benefits.

Will you lend me $18,000?

No—unfortunately our loans range between $500 and $10,000.

Can I be eligible for a Magical Credit loan if I’m 19?

Yes—our applicants must be 18 years or older.

How will I receive my short-term loan?

Once your loan is approved, we direct deposit the funds into your bank account.

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
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.
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.