Borrowing in Division No. 2, Subd. K, Newfoundland and Labrador

Division No. 2, Subd. K is one of the Newfoundland and Labrador places covered here, with 502 residents recorded in the 2021 Census and the same provincial rulebook as the rest of the province.

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.

The federal Payday Lending Regulations (SOR/2024-114) list Newfoundland and Labrador among the provinces that regulate payday lending, where the federal Payday Lending Regulations (SOR/2024-114) cap the cost of borrowing at $14 per $100 advanced.

Small places are covered the same way as large ones: census figures for the place, and the provincial position on lending.

The census figures for Division No. 2, Subd. K

Statistics Canada's 2021 Census gives Division No. 2, Subd. K a population of 502. The census records a land area of 1028.0 square kilometres for Division No. 2, Subd. K.

That gives a density of 0.5 people per square kilometre, rounded to one decimal place.

The 2021 Census population places it at rank 158 in the province.

Division No. 2, Subd. K therefore appears at rank 158 of 322 covered Newfoundland and Labrador places, with a density of 0.5 people per square kilometre.

Products compared here

Among the 20 products compared here, these two are commonly used for the purposes described.

• Debt consolidation loans: Replacing several expensive debts with one payment, and the arithmetic that decides whether it helps.
• Personal loans: A fixed sum repaid on a schedule, usually unsecured, for almost any purpose a lender will accept.

How borrowing works locally

A prepayment privilege allows a borrower to pay more than the scheduled amount, sometimes with a charge attached.

A revolving product charges interest on the outstanding balance, while an instalment product charges a fixed schedule of payments. A payday advance is repaid on a pay date, while an instalment loan is repaid over a set number of payments.

Where a figure for Division No. 2, Subd. K could not be verified, the page names the publisher instead of printing a number.

Division No. 2, Subd. K is one of 322 covered Newfoundland and Labrador places, counted at 502 residents with a land area of 1028.0 square kilometres.

The Division No. 2, Subd. K page follows the same structure as every other place page, with population, land area, density and rank.

The density figure for Division No. 2, Subd. K, 0.5 people per square kilometre, is calculated from the population and land area above.

The land area recorded for Division No. 2, Subd. K is 1028.0 square kilometres, and the population is 502 residents in the 2021 Census.

Division No. 2, Subd. K appears in the census record with 502 residents, and the density of 0.5 people per square kilometre follows from it.

For Division No. 2, Subd. K, the two census fields above are the only local statistics used anywhere on the page.

Division No. 2, Subd. K sits at rank 158 within Newfoundland and Labrador in this data set, and the provincial rules apply as they do elsewhere.

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

The 2021 Census of Population published by Statistics Canada is the source for population and land area; the federal Payday Lending Regulations (SOR/2024-114) are the source for payday rules.

Compare the disclosure on any agreement against the provincial ceiling, and treat the census figures as the only local statistics on the page.