You may’ve lost your job for a number of reasons – layoffs, cuts, or even closures that led to your dismissal. While you’re allotted a severance and EI cheques, it’s not enough money to offer you peace of mind—especially if the job market is dry.
Magical Credit offers quick loans for unemployed, bad credit applicants. As long as you’re collecting a fixed income of $600 a month via direct deposit, from either traditional or non-traditional sources, you could be eligible!
Keep up with your monthly installment payments by using our personal loan calculator!
Yes—employment isn’t a requirement for a Magical Credit loan. Government subsidies such as EI can be leveraged, as long as you’re collecting a $600 monthly direct deposit income.
You can still be considered for a loan. As a high-risk lender, we specialize in loans for bad credit applicants. We don’t weigh candidates on credit scores, but overall report of credit instead.
Sorry, we only offer unemployment loans between $500 and $10,000.
Yes—you must be at least 18 years old to apply with Magical Credit.
You don’t! We are strictly an online lender, and all information is transferred digitally. Simply upload everything to our site!
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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