Ottawa Personal Loans

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If you find yourself facing challenges securing a personal loan from banks or payday companies, Magical Credit is your solution. We look past whatever credit history you may have to bring you bad credit personal loans.

We at Magical Credit offer households across all of Ottawa bad credit personal loans, and accept all forms of government subsidies, from workers comp and unemployment insurance to pensions, child tax, and maternity leave. We care about your needs, and are here to help you find the right loan for you.

Read more about the types of income we accept.

Magical Credit Loans Magical Credit provides loans for people with bad credit. If you need money fast, apply for Magical Credit bad credit loan and get up to $20,000! 2024-02-28 PT1M01S

Qualify for a Short-Term Bad Credit Loan Online

Magical Credit makes applying for a bad credit loan fast and easy for all residents of Ottawa. We approve your cash personal loan quickly, and our application process is even quicker – secure your short-term loan as soon as in one business day, deposited directly into your bank account. 

Why Magical Credit Loans?

Canada’s Bad Credit Loan Leader

Bad credit carries the potential for serious consequences. Magical Credit can help you build towards a brighter and better future.

Easy Online Loan Application

Save valuable time out of your day thanks to our quick and easy application process – all you need to do is fill in your basic details and let us handle the rest.

Super-Fast Loan Approval

With Magical Credit, get your personal loan approved as quickly as possible, and only 24 hours between your application and seeing your funds in your bank account.

Responsible Lending

To guarantee that the process of securing your personal loan is smooth and easy, we first have to take the time to decide whether or not we can approve your application. Once we do, rest assured that we truly do believe in your ability to follow through on your commitment.

We Make Repayment Simple

Stay on top of your repayment schedule with our simple and transparent surprise-free system and no hidden rules.

Your Privacy Matters

Our online services have a 100% secure guarantee to ensure all of your private information stays hidden.

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How Our Bad Credit Loans Work

Bad Credit Personal Loans are loans usually offered to those whose previous credit history is poor of lacking. These loans may be cheaper than credit cards or payday loans, but they do also come with higher rates that other loans.

Get a streamlined approach to lending at Magical Credit with our simple monthly repayment calendar and loan process. If your repayment term and number you plan to borrow are low enough for you, apply online easily from any computer or mobile device.

All it takes is 24 hours for us to evaluate your credit history and income and get back to you on the status of your approval for your bad credit loan.

You get your cash almost instantly after your approval, and can start using our simple repayment calendar to make your payments. 

Our Loans Open Up Possibilities

Sometimes a small bad credit loan is all you need to open the door to a brighter future.

  • Handle unexpected expenses: From medical emergencies to failing equipment, disasters can be impossible to predict – be safe knowing you have cash on hand with your loan to deal with any sudden problem.
  • Rebuild your credit rating: Rebuilding your credit is easiest when you can show the capacity to repay your loan. With our easy repayment calendar, you can get started today.
  • Upgrade your education: By learning new skills from college courses or mastering a new trade using your personal loan, become a more appealing candidate for employers.
  • Buy a car (Or repair the one you’ve got): ): It’s impossible to hold onto work in such a busy city without a car. Your cash loan can help you get started in putting a down payment on your new car.

Where the Magic Happens

Although our head office is located in the GTA, we provide bad credit loans almost everywhere in Canada! If you live in one of the following provinces and territories, then get ready to learn why Magical Credit is the Canadian bad credit loan leader:

  • Ontario
  • Alberta
  • British Columbia
  • New Brunswick
  • Newfoundland
  • Nova Scotia
  • Nunavut
  • Prince Edward Island
  • Yukon

We Lend Responsibly

Most often, bad credit is accumulated after committing financially to things you’re not able to repay.

As Canadian lenders along with bad credit lenders, we take care to make your finances easier to manage, and comply with all of Canada’s provincial and federal lending regulations. We guarantee each loan we approve gets offered to somebody who can meet repayment obligations.

Magical Credit is here to help make your process as easy as possible.

About Ottawa

With a population reaching of over a million residents, Ottawa is Canada’s fourth-largest city. As the capital of Canada, Ottawa is located in the east of southern Ontario near the US border, and has a blossoming landscape, along with invigorating city life. From residents to tourists, visiting Ottawa is a year-round experience that offers many activities and sights to see, along with major industries such as finance and insurance, home improvement including replacement windows and doors, tourism agencies, gyms, fitness studios and specialty services that represent the best of Canada.

There are a variety of banks and their branches that are among the most popular in Ottawa, primarily including Alterna Savings and CIBC, along with RBC, TD Canada Trust, and Desjardins Credit Union. Ottawa also has a diverse network of personal loan lenders supplying residents of Ottawa with loans for terms as short as 3 months to terms as long as several years, as well as open lines of credit. Companies such as Symple Loans and Lendful provide loans to those with good credit, while companies such as Fairstone, Skycap Financial, and Cash Money are more lenient with their credit requirements.

When it comes to personal loans support in Ottawa, Magical Credit is there to provide you with the best source of financial security you need for your bad credit personal loans. 


Magical Installment Loans: We offer installment loans in the amount of $1,500- $20,000 that have a 12-60 month term with an APR 19.99% min - 46.8% max. On $1,500 borrowed for a 1 year term at 3.9% per month, the total cost of borrowing including a $194 fee is $896.00. The total amount to be paid back with interest and fee is $2,396.00. AB License #349796 and BC License #83626

NOTE: Our installment loans are open, so you can pay off your loan at any time with no penalty. You will only pay interest up to the date you pay it off.

Magical Cash Loans - Ontario, British Columbia, Northwest Territories, Nunavut, and Yukon Residents only: We offer Magical Cash Loans in the amount of $100-$1,500.00. The cost of borrowing is $15.00 per $100.00 for each $100.00 borrowed. On a $1,000.00 loan for 14 days, the cost of borrowing is $150.00. The total to payback is $1,150.00 which is an annual percentage rate of 391.07%. ON License #4741412. BC License#85919.

The 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 will impact your future credit with Magical Credit Inc. and other credit lenders. All delinquencies will be reported to the Credit Bureaus.

1376 people applied for a loan with us in the last 7 days
228 people applied for a loan with us in the last 24 hours