About MDG Financial

MDG, located in Toronto, Canada, focuses on improving online shopping and increasing e-commerce sales with consumer financing programs. With MDG Financial, customers can access a line of credit, allowing them to buy now and pay later.

This includes installment loans up to $1,600, with funds deposited in your bank account within 3 hours after approval. Additionally, there is a line of credit up to $3,200 for financing purchases of MDG products.

MDG provides two main types of consumer financing:

1. Small Installment Loans:

   • Loans up to $1,600.
   • Soft credit check that doesn’t affect your credit score.
   • Funds deposited within 3 hours after final approval.
   • No long-term commitments or early payment penalties.
   • Payments reported to a credit bureau.

2. Line of Credit for Products:

   • Credit lines up to $3,200 for MDG products.
   • Spread out the cost and repay in installments.
   • No interest if paid off within 12 months, but interest accrues during the repayment period.
   • Interest reimbursed if paid in full within 12 months.
   • Payments reported to a credit bureau.
   • Extra payments or early payoff allowed without penalties.

MDG Financial FAQs

Are there credit checks with MDG?

Yes however MDG only performs a soft credit check, so it won’t affect your credit score.

Is there an option to repay my loan early?

Yes, you can repay your loan early with MDG without any early prepayment penalty fees.

Can I build credit by making my loan payments to MDG?

Yes, MDG reports your payments to the credit bureau. Making timely payments can help you build good credit, but missed payments can hurt your credit score.

What is the minimum credit score to loan with MDG?

You need a minimum credit score of 560 to qualify for a loan with MDG.

Can I get my fund instantly?

Once approved, funds will be deposited into your bank account within 3 hours. Approval usually takes 24 to 48 hours after pre-qualification. Loan repayments will be made via pre-authorized debits from your bank account.

MDG Financial Products

Small Installment Loan

Loan Amount

• $850 to $1,600

Rates & Term Length

• Interest Rate: 19.8% – 34.99%  APR
• Payment Schedule: Up to 36 Months

Service Details

• Loan Processing Time: Up to 24 hours
• Money Transfer Method: Direct Deposit
• Repayment Method: Automatic debit

Eligibility

• Over 18 years of age 
• Active bank account
• Credit score over 560
• Must be a Canadian resident 

Required Documentation

• Government-issued ID
• Proof of income
• Void Cheque