Borrowing in Burnt Islands, Newfoundland and Labrador

A loan taken out in Burnt Islands is governed by Newfoundland and Labrador's licensing rules, and the 2021 Census counted 540 people in the community.

How borrowing works locally

Joint applications combine two incomes and two sets of obligations in the same assessment.

A lender is free to set its own price below the legal ceiling, and it does so according to the risk it reads in the file. Variable-rate products move with a reference rate, while fixed-rate products set the price for a defined term.

Products compared here

Two of the 20 covered products appear below, each with the purpose the product is designed for.

• Cash advance loans: Immediate short-term cash, including the difference between a cash advance on credit and a payday-style advance.
• Lines of credit: A revolving limit you draw on and repay, usually paying interest only on what is outstanding.

The census figures for Burnt Islands

Burnt Islands recorded a population of 540 in Statistics Canada's 2021 Census of Population. 9.5 square kilometres of land are attributed to Burnt Islands.

The arithmetic gives 57.0 people per square kilometre.

Its provincial population rank is 147 within this data set.

Burnt Islands therefore appears at rank 147 of 322 covered Newfoundland and Labrador places, with a density of 57.0 people per square kilometre.

The Newfoundland and Labrador rules that apply

Licensing for consumer credit in Newfoundland and Labrador sits with the province or territory, and the Financial Consumer Agency of Canada maintains the public list of provincial and territorial regulators.

Payday lending is licensed in Newfoundland and Labrador; the federal Payday Lending Regulations (SOR/2024-114) publish a cap of $14 per $100 advanced, and notes that a province may set a lower figure.

At the small end of the census range, the community still borrows inside the province's licensing system.

For Burnt Islands, the two census fields above are the only local statistics used anywhere on the page.

Nothing on the Burnt Islands page is estimated; the population and land area come from Statistics Canada's 2021 Census of Population.

Readers comparing Burnt Islands with another community can use the same four census fields.

Burnt Islands sits at rank 147 within Newfoundland and Labrador in this data set, and the provincial rules apply as they do elsewhere.

The Burnt Islands page follows the same structure as every other place page, with population, land area, density and rank.

Where a figure for Burnt Islands could not be verified, the page names the publisher instead of printing a number.

At 540 residents in the 2021 Census, Burnt Islands is listed alongside the other covered places in Newfoundland and Labrador.

Burnt Islands ranks 147 by 2021 Census population among the covered places in Newfoundland and Labrador.

Burnt Islands is one of 322 covered Newfoundland and Labrador places, counted at 540 residents with a land area of 9.5 square kilometres.

The density figure for Burnt Islands, 57.0 people per square kilometre, is calculated from the population and land area above.

The land area recorded for Burnt Islands is 9.5 square kilometres, and the population is 540 residents in the 2021 Census.

Burnt Islands appears in the census record with 540 residents, and the density of 57.0 people per square kilometre follows from it.

loanmoose.ca is not a lender and does not make credit decisions. The lowest rates are only available to the most qualified applicants.

Statistics Canada's 2021 Census of Population supplies the population and land-area figures, and the federal Payday Lending Regulations (SOR/2024-114) supply the payday position.

Nothing here is an offer, and no page on this site can tell anyone what a lender will decide.