Our Story

“Everyone deserves the opportunity to get a loan when they need it.”

That was Mark and Natalie’s mantra when they opened Magical Credit in 2014 as a private lender specializing in poor credit and low-income loans. We put our faith in those whom traditional lenders consider being high-risk applicants because we don’t believe that poor credit history is a fair way to judge the contents of a person’s character.

Over the past few years, that faith has been rewarded with blossoming success. We’ve even been nominated for a prominent FinTech Award for our groundbreaking online application system. As a private lender, we’re able to cater to a diverse range of clients that are often overlooked by banks, financial institutions and payday loan companies - and we can do it our own way.

At a time where the process of applying for a cash loan is more complex than ever, the only thing magical about Magical Credit is how we’re bringing back a simpler, straight-forward approach to lending.

Why do people choose online personal loans?

It’s a fair question! People have been trusting banks as the be-all and end-all of financial services for generations: it’s how your mother and father did it, and their mothers and fathers, and so on. Yet online lending is exploding in popularity. Here are just a few reasons why:

Convenience: It’s the 21st Century. If people can avoid a commute and a waiting room without sacrificing service quality, they’ll do it. Magical Credit makes it easy to apply for a personal loan from the comfort of your own home. Just enter your info into our online form, along with any supporting documents, and you’re on your way to approval without your shoes ever leaving the closet.

Fixed rates: A shorter loan means less interest rate fluctuation; the rate we quote you on day one of your loan will be the same as the day you pay it off. 

Easier access: As we’ve mentioned earlier, innovators like Magical Credit are lowering barriers to access. As long as you have been employed for six months and/or receive a monthly government subsidy, we’ll get you the money you need for whatever your short-term goals may be.

Where is Magical Credit headed next?

Like any good magician, we can’t reveal all of our secrets! But you can rest assured we are tirelessly working on ways we can continue to improve on the service we offer our clients, and to help introduce even more people to our no-hassle approach to cash 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.

1373 people applied for a loan with us in the last 7 days
220 people applied for a loan with us in the last 24 hours