Scarborough Personal Loans.

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We Give You the Credit You Deserve

If you’re searching for the right company to offer you the personal loans you need, Magical Credit is your solution. Our team looks beyond your past credit history, whatever it may be, to bring you the loans you need today. 

Magical Credit offers households across Scarborough access to both personal loans and bad credit loans, accepting all government subsidies from maternity leave, pensions, and child tax credit. If you’re looking for a credit company that cares about your needs, Magical Credit is here 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 Personal Loan Online

When applying for a personal loan from Magical Credit, the process couldn’t be faster for Scarborough residents. We offer quick approvals and an even quicker application process for your cash loans, and can bring you your short-term loan in as little time as one business day, deposited directly into your bank account.

Why Magical Credit Loans?

Canada’s Personal Loan Leader

At Magical Credit, we bring you the personal loans you need to start building towards a better future.

Easy Online Loan Application

Save valuable time out of your day with our quick and easy application process. All you have to do to get started is fill in some basic details, and leave the rest of the work to us.

Super-Fast Loan Approval

Our priority is to get your personal loan approved as soon as possible. We deposit your funds to your bank account in as short a time as 24 hours after you apply.

Responsible Lending

In order for us to make sure securing your loan will be a smooth and easy process, we first have to decide whether or not your application can be approved. Once we’ve approved your application, you can trust in the fact that we truly do believe in your ability to make good on your commitment.

We Make Repayment Simple

With our surprise-free system, you can make sure staying on top of your repayment schedule will be simple and transparent, with no hidden rules or surprises.

Your Privacy Matters

With our online services, stay confident in the fact that all your private information is 100% secure.

over 5,000
4 out of 5 stars
customer rating
4.16 out of 5
customers would recommend to their friends
secure process

How Our Personal Loans Work

Magical Credit offers you a streamlined approach to lending, with our loan process starting with an easy-to-use monthly repayment calendar. Simply enter your repayment term and how much you wish to borrow, and if your terms are low enough, applying online through any computer or mobile device will be as easy as ever. 

In just 24 hours, we’ll evaluate your income and credit history and get back to you on your approval status for your personal loan. 

Once you’ve been approved, get your cash almost instantly and rely on our simple repayment calendar to start making your monthly payments.

Our Loans Open Up Possibilities

All it takes is a small personal loan to open the door to a brighter future.

  • Handle unexpected expenses: Predicting disasters, be they medical emergencies or failing equipment, is impossible. Stay safe knowing that your personal loan means the cash you need on hand to handle any problem.

  • Boost your credit rating: Showing that you can repay your loans is the best way to add an extra boost to your credit rating. With our easy repayment calendar, get started today.

  • Upgrade your education: Use your new personal loan to become a better candidate for employers by learning a new skill, taking a college course, or mastering a trade. 

  • Buy a car (or repair the one you’ve got): It’s not easy holding onto work without access to a car you can trust. Your new personal loan can help you put down a payment on a 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 in Scarborough

We specialize in personal loans, and it is important to us to help you make your finances easier to manage as Canadian lenders. We comply strictly with all of Canada’s federal and provincial lending regulations, and we are dedicated to making sure each of the loans we approve gets offered to someone who will be able to repay their obligations. 

Magical Credit is here in Scarborough to help you make your process as easy as can be. 

About Scarborough

With almost 630,000 residents, Scarborough is one of Ontario’s largest cities, and its proximity to central Toronto, as well as the city of Markham and Lake Ontario, make it a thriving city and an active social capital. As a district of Toronto, Scarborough is diverse and multicultural, with its landmarks and attractions making it one of the province’s busiest cities. With its northeast populated mostly by rural areas and farmlands, the city is one of the greenest areas of the Greater Toronto Area. 

Between its major industries and specialty services, Scarborough is a city whose residents need access to financial security and quick loans that they can trust. Across Scarborough, there are a number of major branches of banks, including RBC Royal Bank, Meridian Credit Union, and CIBC, along with locations for others, such as Desjardins Credit Union. Magical Credit is here in Scarborough to bring its residents the financial security they need. 

Lending Money 7 Days / Week in Scarborough, ON 


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.

1322 people applied for a loan with us in the last 7 days
194 people applied for a loan with us in the last 24 hours
19 people applied for a loan with us in the last hour