Leading Loan Brockrage Company
Magocash is a personal loan brokerage company without a credit check. Our mission is to find you a fast, less expensive loan, no matter your credit report. We focus on innovation in a market dominated by several personal loan companies, hidden fees, and old ways of borrowing money. By using technology and financial innovation, we are transforming the way Canadians access fast loans. Our tips are easy to use, transparent and unconventional giving consumers control over their finances without further debt. Magocash only deals with lenders who hold a valid license from the Consumer Protection Office.
How It Works
Open an online account in 2 minutes01
Review & sign loan agreement online02
Receive loan via direct deposit03
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Laura T. Missisauga ON,
I send money to my family back home. Sometimes if I don’t have enough, Magocash helps me. It’s convenient for me.
John S. Toronto ON.
Everything is clear, you know exactly when you can start your payments and when you can renew. I have full control of my account and payments.
Courtenay P. Alberta Calgary
It’s easy for everybody. I like the way you incorporate technology in your service to offer an exceptional experience.
Jonathan M. Kitchener ON.
I like the transparency. I can log in to my account and manage my loans anytime. Exceptional service
Flexible Loan payment schedule: 1, 6 or 12 installments: With magocash, we adapt our repayment schedule to your pay frequency.
Transparency: With magocash, all loans fees are disclosed upfront. With your personal online account, you can access it 24/7 to consult your account statement or postpone a payment.
Annual percentage rate (APR)
The APR on the amount borrowed from the lender is 23% to 32%.
For example, a loan of $ 500 including all the fees and interest will result in a reimbursement of about $ 740.(payable in 90 days)
Our loyal customers can renew when their balance is 0$.
Only 2 documents needed:
- 30 days bank account
- A recent pay stub.
Missed payments and credit rating
Any missed payment will be postponed to the end of your contract, in the and will result in $ 45 fee for insufficient funds, as stated contract. This will have no impact on your credit score at our business. If you need to defer a payment, you must call 48 hours in advance; this will result in a $ 25 fee, and will be added to the end of your contract. Loans repaid properly show good will and make the renewal of your loan hassle-free.
Our company uses responsible collection practices. If you fail to make your payments, our collection agents may terminate your payment plan and use different methods to recover the money owed. Payments that are terminated will accumulate interest on the outstanding balance of your loan. The borrower is responsible for all legal fees required to obtain the balance due. The uncollected debts are prosecuted to the fullest extent of the law.
Please borrow responsibly. We offer a way to help you during difficult times. However, the interest rate is higher than the rate of local banks. These loans should only be taken out when you do not have other options for financial assistance, and you should be used as seldom as possible. If contracted in knowingly, this loan can prove to be the right solution for you. However, the fact of getting together a large number of short-term loans could lead to serious financial problems and debt impossible to bear.