Borrowing in Division No. 1, Subd. I, Newfoundland and Labrador

With 320 residents counted in the 2021 Census, Division No. 1, Subd. I sits inside Newfoundland and Labrador's provincial lending framework.

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.

The federal payday lending regulations, SOR/2024-114, cap the cost of borrowing at $14 per $100 advanced in Newfoundland and Labrador, which the federal Payday Lending Regulations (SOR/2024-114) list as a province that regulates the product.

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

How borrowing works locally

Payment history is reported to credit agencies, and that record is what builds or damages a credit file over time.

A shorter term raises each payment and lowers the total interest, which is the trade every schedule makes. Joint applications combine two incomes and two sets of obligations in the same assessment.

The census figures for Division No. 1, Subd. I

In the 2021 Census, Division No. 1, Subd. I had 320 residents. Statistics Canada lists 64.1 square kilometres of land for the community.

The calculated density is 5.0 people per square kilometre.

Among covered Newfoundland and Labrador places, Division No. 1, Subd. I sits at rank 210 by population.

Division No. 1, Subd. I sits at rank 210 among the 322 Newfoundland and Labrador places here, with 320 residents in the 2021 Census.

Products compared here

The site describes 20 products in total; the two below are representative of the range.

• Secured loans: Borrowing against an asset, which lowers the price but puts the asset at risk if you default.
• Business lines of credit: A revolving operating limit for a business, and why it behaves differently from a term loan.

At 320 residents in the 2021 Census, Division No. 1, Subd. I is listed alongside the other covered places in Newfoundland and Labrador.

For Division No. 1, Subd. I, the two census fields above are the only local statistics used anywhere on the page.

The land area recorded for Division No. 1, Subd. I is 64.1 square kilometres, and the population is 320 residents in the 2021 Census.

The Division No. 1, Subd. I page follows the same structure as every other place page, with population, land area, density and rank.

Division No. 1, Subd. I is one of 322 covered Newfoundland and Labrador places, counted at 320 residents with a land area of 64.1 square kilometres.

Division No. 1, Subd. I appears in the census record with 320 residents, and the density of 5.0 people per square kilometre follows from it.

Nothing on the Division No. 1, Subd. I page is estimated; the population and land area come from Statistics Canada's 2021 Census of Population.

The density figure for Division No. 1, Subd. I, 5.0 people per square kilometre, is calculated from the population and land area above.

Division No. 1, Subd. I ranks 210 by 2021 Census population among the covered places in Newfoundland and Labrador.

Where a figure for Division No. 1, Subd. I could not be verified, the page names the publisher instead of printing a number.

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

Census figures are from Statistics Canada's 2021 Census of Population, and the payday position is taken from the federal Payday Lending Regulations (SOR/2024-114).

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