Borrowing in Chance Cove, Newfoundland and Labrador

With 213 residents counted in the 2021 Census, Chance Cove sits inside Newfoundland and Labrador's provincial lending framework.

The census figures for Chance Cove

The 2021 Census counted 213 residents in Chance Cove. The community covers 18.1 square kilometres of land.

That gives a density of 11.7 people per square kilometre, rounded to one decimal place.

Among covered Newfoundland and Labrador places, Chance Cove sits at rank 257 by population.

Chance Cove is one of 322 places listed for Newfoundland and Labrador, ranked 257 by population and measured at 18.1 square kilometres.

Products compared here

These are two of the 20 products described on the site, and each has a national page as well as the provincial rules.

• Business lines of credit: A revolving operating limit for a business, and why it behaves differently from a term loan.
• Collateral loans: Borrowing against an asset a lender will hold, from vehicles to savings, and what happens on default.

The Newfoundland and Labrador rules that apply

Provincial or territorial law decides who may lend in Newfoundland and Labrador, and the Financial Consumer Agency of Canada publishes the list that names the regulator responsible.

In Newfoundland and Labrador, payday lending operates under a licensed provincial regime, and the federal Payday Lending Regulations (SOR/2024-114) record a maximum cost of borrowing of $14 for each $100 advanced under SOR/2024-114.

This is a small community by population, inside the lowest band used on this site, and the provincial framework applies without variation.

How borrowing works locally

A revolving product charges interest on the outstanding balance, while an instalment product charges a fixed schedule of payments.

Payment history is reported to credit agencies, and that record is what builds or damages a credit file over time. A lender may ask for proof of address, and a permanent address is a standard requirement for consumer credit.

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

Chance Cove ranks 257 by 2021 Census population among the covered places in Newfoundland and Labrador.

The land area recorded for Chance Cove is 18.1 square kilometres, and the population is 213 residents in the 2021 Census.

Chance Cove appears in the census record with 213 residents, and the density of 11.7 people per square kilometre follows from it.

Readers comparing Chance Cove with another community can use the same four census fields.

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

Chance Cove sits at rank 257 within Newfoundland and Labrador in this data set, and the provincial rules apply as they do elsewhere.

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

Chance Cove is one of 322 covered Newfoundland and Labrador places, counted at 213 residents with a land area of 18.1 square kilometres.

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

The density figure for Chance Cove, 11.7 people per square kilometre, is calculated from the population and land area above.

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

Population and land area figures come from Statistics Canada's 2021 Census of Population; regulatory statements are attributed to the federal Payday Lending Regulations (SOR/2024-114).

Lending rules change, and the Financial Consumer Agency of Canada publishes the list of provincial and territorial regulators where the current position is confirmed.