Job loss is as anxiety inducing as it is hard on the finances. The expenses stay the same while your income drastically shrinks. You’ll need a loan just to keep up with payments, but banks won’t loan to an unemployed applicant and you’re not going to fall for a payday lender’s tricks!
If you’re collecting a monthly EI income of at least $600 via direct deposit, Magical Credit specializes in quick loans for unemployed people in Nunavut. Our interest rate is 3.9% a month, and you’ll only be paying interest to date when you pay off your loan.
No—we only lend between $500-$10,000.
No—you must be at least 18-years-old to apply Magical Credit.
Our quick loans for unemployed applicants come with 3.9% monthly interest.
We will loan to unemployed applicants. However, we can’t guarantee loans to anyone. You still need to be collecting an EI income (or another traditional or non-traditional income) of at least $600 via direct deposit. Also, you need to be discharged of any prior bankruptcies or consumer proposals, and not have any other loans in collections to be eligible for our employment insurance loans.
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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