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Does Your British Columbia Government Income Qualify For A Cash Loan?

If you’re currently a resident of British Columbia, Magical Credit accepts a wide variety of income sources from the federal (Canada) and provincial (British Columbia) governments. We also consider fixed private income, such as monthly payments for pension or insurance.

Below is a compilation of the most common types of government income received by people who live in British Columbia. Each of these types of income can qualify for a cash loan from Magical Credit, if you meet our other requirements. Depending on the amount of your monthly income, we will approve you for a loan between $500 and $20,000.

British Columbia Government Income Sources That Qualify:

  • Universal Child Benefit (UCB)
  • Old Age Security
  • Workplace Safety and Insurance (WSIB)
  • Private Pensions (Blue Cross, Sun Life, etc.)

Please note that this list may not include every type of government income available in British Columbia. We accept most types of fixed government income that are received on a monthly basis. If you are unsure if your British Columbia government subsidy or fixed monthly income qualifies you to receive a cash loan from us, please call us at 1-877-213-2088.

Our loans are considered short-term loans and have up to a 6-60 month term with an interest rate ranging from 3.4%-20% per month.

Example: $1,500 borrowed for one year at 3.4% per month. Monthly payments are $199.05. Total payback with interest and fee of $194.00 is $2,388.54.

NOTE: 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.

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