Do You Qualify For A Government Subsidy Loan?

Magical Credit is a Canadian private lender that specializes in providing cash loans to people who are receiving a fixed government income. We accept a variety of different government subsidies from both federal and provincial governments in Canada.

What Qualifies As A Government Subsidy?

Often when people hear the term "government income" they think of welfare and government assistance. However there are many government-funded programs that can contribute to your income, and your ability to qualify for a Magical Credit cash loan. Almost any payment that is received from government sources (provincial or federal) is included in our definition of government subsidies. This applies to everything from baby bonuses, to unemployment insurance, to old age security.

Not sure if your government income qualifies for a cash loan? Click on your province below to see a list of the most common types of government income that Magical Credit approves for cash loans.

* Please bear in mind that, temporarily, we had to limit the sources of income we accept. Please refer to the "What has changed temporarily with COVID-19?" section of our FAQ page for further information on the matter.

If you have questions, please refer to our FAQs for commonly asked questions, or contact us for further details. We typically respond to loan applications and inquiries within one business day.

To determine if you qualify for a cash loan, please submit an online loan application:


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.

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