Loans for Unemployed in Canada $1,500-$20K | Magical Credit

Get an Unemployment Loan Online in Canada From Magical Credit

You’re between jobs and money is tight. You may be getting severance or employment insurance, but it’s not enough to meet your regular financial obligations, not to mention those unexpected emergencies that can wreak havoc on an already precarious income.

This is totally normal, and given the worldwide economic turmoil of the past few years, it has become the day-to-day reality for millions of Canadians. If this situation sounds familiar to you, then you need what’s known as an unemployment loan or an employment insurance loan (EI loan).

Unfortunately, no matter how understandable (and common) your situation is, most banks still won’t give you the time of day. Payday loan companies may lend to you, but they’ll charge you a hefty interest. So where can the unemployed turn for a quick emergency cash loan?

Magical Credit knows where you’re coming from. That’s why our company offers easy-to-understand online loans for unemployed in Canada.

“I need a loan but I want to know what my monthly payments are going to look like.” – Use our personal loan calculator to find out!

I want to borrow:



With our unique platform, you can follow a simple repayment schedule with confidence that there will be no unpleasant surprises from us. Throughout the lending process, our team will help keep you on track with your commitments as you seek out your next job.

Our business model is not based on giving out loans to as many people as possible – we do our due diligence to ensure that you are a good candidate for financing. Blindly offering loans to all comers would inevitably mean putting some applicants in a position to default, which could further their credit woes and damage their ability to secure future financing. Our clients’ interests and financial well-being come first, and you can rest assured that if you are approved it’s because we believe you will be able to make good on your commitment.

We’re here to offer assistance to unemployed people with bad credit. Check out our loan calculator to figure out your monthly payments, and then apply online. You can be approved for a loan in as little as 5 minutes!