Magical Credit Expands Its Lending Family, Building on Its Installment Loan Business
Magical Credit has expanded its family of lending companies with Magical Cash and Magical Business, extending the approach behind its established personal installment loan business to new types of financing for consumers and Ontario small businesses.
On August 12, 2026, Magical Credit Inc. announced the expansion of its family of lending brands. The Toronto-based alternative lender, which has served Canadians since 2014, now operates three distinct brands designed for different financial needs: Magical Credit, Magical Cash and Magical Business.
The expansion marks a new chapter for the company while keeping the personal installment loan business that built Magical Credit at the centre of the group.
From Personal Installment Loans to a Broader Family of Lending Brands
Magical Credit began with a straightforward objective: provide lending options to Canadians who may have difficulty qualifying through traditional banks.
Over more than a decade, that approach has helped establish Magical Credit as an alternative lender specializing in personal financing, including installment loans in Ontario for applicants with different credit histories and income situations.
Today, the broader family of lending brands consists of three companies designed for different financing needs:
| Brand | Financing focus | Available amount |
|---|---|---|
| Magical Credit | Personal installment loans | $1,500–$20,000 |
| Magical Cash | Short-term consumer loans | Up to $1,500 |
| Magical Business | Merchant cash advances for Ontario businesses | $5,000–$300,000 |
Each company has a distinct purpose rather than offering the same product under different names. Magical Credit continues to focus on personal installment lending, while Magical Cash addresses smaller, short-term borrowing needs and Magical Business provides funding specifically for Ontario small businesses.
Natalie Bell, Co-founder of Magical Credit Inc.
“Since 2014, our mission has been simple: say yes to the Canadians the banks turn away. With Magical Cash and Magical Business, we’re taking everything we’ve learned about fast, fair, human lending and putting it to work for more people, and now for the small businesses that power our communities.”
Magical Credit Remains Focused on Personal Installment Loans
Although the family of companies is expanding, installment lending remains an important part of the Magical Credit business.
Magical Credit offers personal installment loans ranging from $1,500 to $20,000 for eligible Ontario residents. Repayment terms range from 12 to 78 payments, with weekly, bi-weekly, semi-monthly and monthly payment schedules available, subject to approval and the current loan disclosures.
Unlike a short-term loan that is generally repaid quickly, an installment loan divides repayment into scheduled payments over time. This structure can make an installment loan more suitable for larger personal expenses that cannot comfortably be covered through a single payment.
Magical Credit’s online application process is designed to consider more than a credit score alone. The company works with applicants who may have bad credit or non-traditional sources of income and evaluates their broader financial circumstances when reviewing an application.
For product details, eligibility, repayment information and current disclosures, learn more about Magical Credit’s installment loans in Ontario.
Magical Cash: A Separate Option for Short-Term Borrowing
Magical Cash was created for smaller and more immediate borrowing needs.
Magical Cash offers fully online short-term loans of up to $1,500. Because Magical Cash operates as its own lending brand, consumers looking for short-term financing can distinguish these products from the larger installment loans available through Magical Credit.
Keeping the two products under clearly differentiated brands also makes it easier for borrowers to understand which type of financing they are considering before applying.
Magical Business Brings the Group’s Approach to Small-Business Funding
The newest member of the group, Magical Business, extends the company’s lending experience into commercial financing.
Magical Business is a direct funder serving Ontario small businesses with merchant cash advances ranging from $5,000 to $300,000.
Rather than relying exclusively on a personal credit score, qualification considers the financial health and revenue of the business. Applications are completed online, and funding decisions are made directly by Magical Business rather than through a third-party broker.
Natalie Bell, Co-founder of Magical Credit Inc.
“Small business owners are used to hearing ‘no’ or waiting weeks for an answer. Magical Business exists to change that. We fund directly, we decide quickly, and we treat every application like the livelihood it represents.”
One Lending Family, Different Financial Needs
The expansion is not simply about adding more loan products. It creates clearer separation between three different financing situations.
Someone looking to finance a larger personal expense over scheduled payments can continue to turn to Magical Credit and its installment loan products. Someone dealing with a smaller, immediate expense can explore Magical Cash. An Ontario business owner looking for working capital can now deal directly with Magical Business.
That distinction matters because borrowing needs, repayment structures, qualification requirements and costs can differ significantly from one type of financing to another.
Together, the three companies allow the group to support a wider range of financial situations while keeping each lending product within a clearly defined brand.
More Than a Decade of Alternative Lending in Canada
Magical Credit was founded in Toronto in 2014 and built its business around serving Canadians who may not fit the lending criteria used by traditional financial institutions.
The company is a member of the Canadian Lenders Association and has received the CLA’s Top 25 Companies in Lending recognition.
What began as a consumer lending business has now developed into a broader group serving both individuals and small businesses. Despite that expansion, the underlying goal remains the same: provide a straightforward online lending process, transparent terms and financing options for applicants whose circumstances may not fit traditional lending models.
About the Magical Credit Family of Companies
Magical Credit provides personal installment loans from $1,500 to $20,000 for eligible Ontario residents, subject to approval and current disclosures.
Magical Cash provides short-term consumer loans of up to $1,500 in eligible jurisdictions.
Magical Business provides merchant cash advances from $5,000 to $300,000 to qualifying Ontario small businesses.
The three brands operate as part of the Magical Credit family while focusing on different borrowing and funding needs.
Frequently Asked Questions
Does Magical Credit still offer installment loans?
Yes. Personal installment loans remain a core Magical Credit product. Eligible Ontario residents can apply for loans from $1,500 to $20,000, subject to approval.
Are Magical Cash and Magical Credit the same loan product?
No. They are part of the same family of companies but serve different borrowing needs. Magical Credit focuses on personal installment loans, while Magical Cash specializes in smaller short-term loans.
What is Magical Business?
Magical Business is a direct funder providing merchant cash advances from $5,000 to $300,000 to qualifying small businesses in Ontario.
When was Magical Credit founded?
Magical Credit was founded in Toronto in 2014 and has since expanded from its original personal lending business into a family of consumer and business lending brands.
Source note: Magical Credit originally announced the expansion of its lending family through CNW on August 12, 2026. Read the original CNW announcement.
