Losing your job because of layoffs, cuts, or even store closures is as unfair as it is detrimental to your finances. You may be allotted severance and EI cheques, but those payments don’t give you enough money to make ends meet.
Magical Credit offers loans for unemployed, bad credit applicants, accepting non-traditional incomes such government subsidies. So, as long as you’re collecting a fixed income of $600 a month via direct deposit, you could be eligible!
Monthly loan installment payments can be simple when you’re tracking them with our personal loan calculator!
Yes—while employment certainly helps, it isn’t a zero-tolerance 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.
Yes—we’re a high-risk lender and specialize in loans for bad credit applicants. We assess applicants based on their overall report of credit instead of their credit score.
Sorry, the largest unemployment loan we can offer is $10,000.
No—you must be at least 18-years-old to apply with Magical Credit.
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