Need a Loan in the Yukon? Apply for an Unemployment Loan with Magical Credit!

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Unemployment Loans in Yukon

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!

I want to borrow:

< $2000 >
$500
Min
$10,000
Max

Why the People of Yukon Could Use an Employment Insurance Loan

  • Internet Plans – You won’t land a job interview without access to the internet. An EI loan from Magical Credit can cover your bandwidth needs, so you can wow potential employers with a well-written, professional resume.
  • Professional Development – Taking skill-building courses when you’re in between jobs is expensive, but it’s an investment into your future gainful employment. Unemployment loans in Yukon can help pay for these important classes.
  • Moving Expenses – You haven’t been working for months, so you’ll take a job anywhere, even if you have to relocate to the big city. People in Yukon can apply for an EI loan to cover moving costs until those paycheques start piling up.
  • Debt Consolidation – Before you lost your job, you amassed numerous consumer debts, and once you lost your job, you couldn’t afford to pay them off. A loan for debt consolidation in the Yukon will turn several debts into one simple-to-manage loan!

FAQ: Bad Credit, EI Loans in Yukon

So…I can get a loan if I’m unemployed?!

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.

Will I be considered even if I have bad credit and I’m collecting EI?

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.

I need $13,000 for a down payment on a condo – can I take out an EI loan for that amount?

Sorry, the largest unemployment loan we can offer is $10,000.

I’m only 17, will I be considered for an employment insurance loan?

No—you must be at least 18-years-old to apply with Magical Credit.


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
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.
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.