Trust check
Is MDG legit?
MDG has been in business for over three decades, is licensed in the provinces we checked, has a strong BBB rating and is active on social media. However, they are not CLA certified.
MDG: Overview
If you need to buy a laptop, TV or piece of furniture but don't have the cash to pay for it upfront, or you need a cash loan to cover a bill, MDG may be able to help. MDG is an Oakville, Ontario company that has been selling to Canadians since 1991. They started out as a computer manufacturer and retailer, where customers built their own PCs with a representative, and grew to more than 25 stores before moving online.
Today, MDG sells electronics, furniture and more through their website, and they offer two ways to pay over time: cash installment loans from MDG Financial Inc. and a store credit line for MDG products from MDG Computers Canada Inc. Their goal is to make shopping with them easy and enjoyable, with a flexible payment plan built in.
Who Is MDG Best For?
MDG can be a good fit for you if:
- You need a quick cash fix. You can borrow up to $20,000 with a cash installment loan, get an initial decision within minutes and have the money in 15 to 30 minutes with Instant Transfer.
- You can't pay for a big purchase upfront. MDG's store credit line lets you spread the cost of a laptop, TV or furniture over biweekly payments, and the interest is reimbursed if you pay it off within 12 months.
- You want to check your options without hurting your credit. A single online form covers both the cash loan and the store credit line, and pre-qualifying uses a soft inquiry that won't affect your credit score.
What Does MDG Offer?
MDG offers two main forms of consumer financing: cash installment loans and store credit lines to pay for MDG's products.
Cash Installment Loans
MDG offers cash installment loans up to $20,000 through MDG Financial Inc. You repay your loan in biweekly payments over a term of up to 36 months, and you're free to pay off your balance in advance with no penalty.
| Loan Amount | Up to $20,000 |
| Interest Rate | 19.80% to 34.99% |
| Term | Up to 36 months, paid biweekly |
| Funding Time | 15 to 30 minutes with Instant Transfer ($19.95), or the next business day with standard transfer at no extra cost |
| Early Repayment | No penalty |
Store Credit Line
To help you pay for an expensive product from MDG, you can use a store credit line from MDG Computers Canada Inc. Rather than paying for a product in full upfront, you can use your store credit line to spread the costs over a longer time frame and repay via biweekly installments.
MDG provides store credit lines for up to $3,200, and your approved limit can be anywhere from $900 to $3,200. If you pay your store credit line off within 12 months, you won't have to pay interest on eligible orders.
Do note that interest will still accrue throughout the repayment period. That means you'll have to make your minimum payments with interest, starting from the date your order is processed for shipping. Once you've paid your full balance within 12 months, you will be reimbursed for the interest charges paid. If you don't pay in full by the end of the 12-month term, you will not be reimbursed for the interest portion.
| Credit Limit | $900 to $3,200 |
| Interest Rate | 19.80% to 32.00%, reimbursed if you pay in full within 12 months (eligible orders) |
| Payments | Biweekly |
| Use It For | Products bought from MDG |
| Early Repayment | No penalty |
Each product comes from a different MDG company. The cash loan is provided by MDG Financial Inc., and the store credit line is provided by MDG Computers Canada Inc. The consent box on the application lets both companies get your credit score or report, whichever product you choose.
Features
- One Application: One online form lets you apply for both the cash loan and the store credit line.
- No Impact On Your Credit Score: Pre-qualifying uses a soft inquiry, so checking your offer won't affect your credit score.
- Real-Time Decisions: Applications are assessed in real time, and your initial credit decision comes back within minutes.
- Instant Transfer: For a $19.95 fee, eligible cash loans are sent to you in 15 to 30 minutes once you're approved. Standard transfer is free and arrives the next business day.
- Low Minimum Payments: Payments are biweekly, and there are no long-term commitments.
- Interest Reimbursed In 12 Months: Pay off an eligible store credit line purchase within 12 months and the interest you paid comes back to you.
- No Prepayment Penalty: You can increase your payments or pay off the entire balance at any time.
- Optional MDG Club: For $9.98 every two weeks, members can skip a payment every 3 months, move a due date and get an NSF fee waived if a missed payment is rescheduled within 7 days. It isn't insurance and isn't required to get credit.
How Fast Can You Get Your Money From MDG?
You can get an initial decision within minutes and, with Instant Transfer, your cash loan in 15 to 30 minutes once you're approved. If you choose standard transfer instead, there's no extra cost and the money arrives the next business day.
| Stage | Timing |
|---|---|
| Application | A few minutes online |
| Initial Decision | Within minutes, assessed in real time |
| Final Approval | Once MDG verifies your information and any documents they ask for |
| Instant Transfer | 15 to 30 minutes for a $19.95 fee, timing may vary by bank |
| Standard Transfer | Next business day, at no extra cost |
What Are The Requirements For An MDG Cash Loan Or Store Credit Line?
To determine your eligibility for a cash installment loan or store credit line, MDG pre-qualifies you with a soft inquiry, which won't affect your credit score. They get your credit score from Equifax, using your Social Insurance Number (SIN) to access your credit profile, so your SIN is required to apply. After you've been pre-qualified, you'll need to provide MDG with information to prove your employment, income and identity before they give you final approval.
| Requirement | Cash Installment Loan | Store Credit Line |
|---|---|---|
| Credit Score | 520+ | No minimum listed |
| Bank Account | Valid account with 30 to 90 days of transaction history | Valid account with 30 to 90 days of transaction history |
| Income | Reliable source of income | Reliable source of income |
| Credit Check | Soft inquiry to pre-qualify | Soft inquiry to pre-qualify |
| Social Insurance Number | Required to pre-qualify | Required to pre-qualify |
| Documents After Pre-Qualifying | Bank statements, employment information, photo ID and a void cheque | Bank statements, employment information, photo ID and a void cheque |
| Availability | Across Canada, online only | Across Canada, online only |
How To Apply With MDG
Getting approved for a cash installment loan or store credit line follows the same process. For either one, all you need to do is fill out a quick online application.
The pre-qualification form has four screens. Here's what each one asks for.
What Does An MDG Loan Cost?
What you pay depends on which product you use. Cash loans have rates of 19.80% to 34.99% over up to 36 months, and store credit line purchases have rates of 9.47% to 32.00%, with the interest refunded if you pay in full within 12 months.
Cash Loan
| You Borrow | Interest Rate | Biweekly Payment (36 Months) | Total Interest | Total You Repay |
|---|---|---|---|---|
| $1,600 | 19.80% | $27.28 | $527.88 | $2,127.88 |
| $1,600 | 34.99% | $33.25 | $993.86 | $2,593.86 |
| $5,000 | 19.80% | $85.25 | $1,649.62 | $6,649.62 |
| $5,000 | 34.99% | $103.92 | $3,105.81 | $8,105.81 |
Store Credit Line
Your store credit line payment depends on your cart total, which includes shipping, handling and provincial tax, and on the rate you're approved for.
| Cart Total | Biweekly Payment | At 9.47% | At 19.80% | At 32.00% |
|---|---|---|---|---|
| $399 | $13.99 | 31 payments, $421.98 in total | 33 payments, $451.37 in total | 36 payments, $494.08 in total |
| $999 | $29.87 | 36 payments, $1,066.96 in total | 39 payments, $1,156.73 in total | 44 payments, $1,293.92 in total |
| $1,999 | $45.98 | 48 payments, $2,179.61 in total | 53 payments, $2,435.09 in total | 63 payments, $2,874.63 in total |
| $3,199 | $73.58 | 48 payments, $3,488.04 in total | 53 payments, $3,896.90 in total | 63 payments, $4,600.33 in total |
These numbers are for illustrative purposes only. Actual numbers may vary.
Instant Transfer costs $19.95 if you want your cash loan in minutes, and the MDG Club costs $9.98 every two weeks if you choose to join. A standard NSF fee applies if a missed payment is still outstanding after 7 days.
How To Pay No Interest At All
On eligible orders, MDG refunds every dollar of interest you pay on your store credit line if you clear the balance within 12 months. Getting the refund comes down to three steps.
Step 1
Check Your Order Is Eligible
MDG shows which orders are eligible on your statements. Confirm yours is one of them before you plan around the refund.
Step 2
Make Your Payments On Time
Interest is charged along the way. Keep up with your minimum biweekly payments from the date your order ships.
Step 3
Clear The Balance Within 12 Months
Pay the full remaining balance within 12 months of your order shipping, and MDG refunds the interest you've paid.
About $545 back
On a $1,999 cart at 32.00%
Is MDG Licensed?
MDG Financial Inc. is licensed in Alberta, British Columbia, Saskatchewan, Quebec and Nova Scotia, and is a registered business in Ontario and Newfoundland and Labrador.
Service AlbertaVerified
Consumer Protection BCVerified
Financial and Consumer Affairs AuthorityVerified
Office de la protection du consommateurVerified
Licensed Lenders in Nova ScotiaVerified
MDG Computers Canada Inc. (line of credit), Ontario corporation 1031528, active since May 26, 1993Registered
Companies and Deeds OnlineRegistered
What Do Consumers Think Of MDG?
It's always a good idea to research lenders before you apply for a loan. The ratings below were last checked on October 28, 2026, and they cover MDG's financing and online store together.
Claimed since July 2017.
Not BBB accredited. 151 complaints in the last three years.
MDG has been selling to Canadians for 35 years.
What We Like About MDG And What To Watch Out For
What We Like
- Simple online form: One application covers both the cash loan and the store credit line, and it only takes a few minutes to fill out.
- No impact on your credit score: Pre-qualifying uses a soft inquiry, and MDG assesses your application in real time, so you'll know within minutes.
- Cover an expensive purchase without paying upfront: You can use MDG's store credit line to spread the cost of a laptop, TV or furniture over small biweekly payments.
- No interest on the store credit line: If you pay off your store credit line purchase in full within 12 months, the interest you paid is reimbursed on eligible orders.
- Quick funding: With Instant Transfer, your cash loan typically arrives in 15 to 30 minutes once you're approved, or the next business day for free.
- Repay early without penalty: You can make bigger payments or pay off your balance at any time with no penalty.
What To Watch Out For
- Higher rates with weaker credit: While cash loan rates go up to 34.99%, a shorter term or a smaller loan keeps the total interest you pay down.
- Interest isn't reimbursed if you don't repay within 12 months: While interest is charged on every store credit line payment, you get it all back if you pay the full balance within 12 months.
- Instant funding costs extra: While Instant Transfer costs $19.95, standard transfer is free and your money arrives the next business day.
MDG vs easyfinancial vs Spring Financial
Comparing MDG, easyfinancial and Spring Financial on loan amount, interest rate, term, availability, funding time, funding method, repayment options, eligibility and required documents, as listed by each lender.
| Feature |  MDG Cash Installment Loan Apply now Learn more |  easyfinancial Personal Loan (Unsecured) Apply now Learn more |  Spring Financial Personal Loan Apply now Learn more |
|---|---|---|---|
| Loan amount | Up to $20,000 | $500 – $150,000 | $500 – $35,000 |
| Interest rate | 19.8% – 34.99% | 9.99% – 34.95% | 9.99% – 34.95% |
| Term | Up to 36 months | 9 - 240 months | 6 – 84 months |
| Available in | All provinces | All provinces | All provinces |
| Funding time | 15 – 30 minutes with Instant Transfer Next business day with standard transfer | 24 hours+ | Same day for e-Transfers 2 – 3 days for EFT |
| Funding method | Direct deposit |
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| Repayment | Pre-authorized debit agreement | Automatic debit | Bi-weekly or monthly repayment plans |
| Eligibility | Be a Canadian resident |
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| Requirements & documents |
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Figures are as listed by each lender and can change. Check the lender's site before you apply.
Before You Borrow, Try These
A Cash Advance App
If you only need a few hundred dollars until payday, a cash advance app can front you a small amount, often with no interest and no credit check. The advance comes back out of your account on your next payday, so it's best for covering a short gap rather than a big purchase.
| Lender | Product | Interest Rate | Amount | Fees | Availability | Apply |
|---|---|---|---|---|---|---|
 Bree | Cash advance line of credit | 0% | Up to $750 | No mandatory feesOptional fee for express delivery |
| Apply |
 Nyble | Credit building line of credit | 0% | Up to $250 | FreeOptional $11.99/month membership fee with added perks |
| Apply |
 KOHO Cover | Cash advance | 0% | Up to $500**Eligibility criteria and Terms and Conditions apply. | Starting at $2/monthCover bundle subscription; KOHO account required |
| Sign up |
 Spark Access | Loan | 28.9%About 29.9% APR with the $1 access fee. May drop as you unlock bigger loans | $100 – $2,500On-time payments unlock higher amounts | One-time $1 access feeOptional Spark Plus: $9.99 bi-weekly |
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Check Out Your City Services
211.ca is a free, confidential service that connects you with community and government programs across Canada. You can search by postal code for help with rent, utilities, food and other urgent costs that you don't have to pay back.
Final Thoughts
MDG makes it easy to pay for its products. If you don't have the cash to cover an item on MDG's product list, you can finance it using their store credit line, get your interest back by paying it off within 12 months and repay what you owe with biweekly installments. Or, if money is a little tight, you can take out a cash installment loan to tide you over. All you need to do is fill out one application, and MDG will pre-qualify you within minutes with a soft inquiry that won't affect your credit score.
MDG FAQs
Does MDG perform a hard credit check?
Can I repay my loan early?
Can I build credit by making my loan payments to MDG?
What credit score do I need to be eligible for a loan with MDG?
How long will it take to get access to my funds?
Is MDG's no-interest offer really no interest?
Can I use the MDG store credit line at other stores?
Unsecured Installment Loans provided by MDG Financial Inc. Interest rates on unsecured installment loans range from 19.80% - 34.99%, with loan terms of up to 36 months. Online applications are assessed in real time. Personal information provided during your application may be subject to verification. You may be asked to provide additional documents to support your application. Loan Example: $1,600 unsecured loan borrowed for 36 months at APR of 29.78%, biweekly payment of $31.13. Total repayment with interest $2,428.14. All figures are representative, the rate you are offered will depend on an assessment of credit worthiness and other factors. Terms and conditions apply.
