Borrowing in Indian Bay, Newfoundland and Labrador

Indian Bay is one of the Newfoundland and Labrador communities covered here, with a 2021 Census population of 172, and borrowing there is licensed under Newfoundland and Labrador's consumer credit rules.

How borrowing works locally

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

An application usually asks for identification, income evidence, banking details and a statement of obligations. Joint applications combine two incomes and two sets of obligations in the same assessment.

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.

• 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.

The census figures for Indian Bay

172 people were counted in Indian Bay in the 2021 Census. Statistics Canada lists 86.5 square kilometres of land for the community.

On those two figures, density is 2.0 residents per square kilometre when rounded to one decimal place.

The community is the 284th largest place in the province within this census set.

Indian Bay is one of 322 places listed for Newfoundland and Labrador, ranked 284 by population and measured at 86.5 square kilometres.

The Newfoundland and Labrador rules that apply

Consumer lending in Newfoundland and Labrador is licensed provincially or territorially, and the Financial Consumer Agency of Canada publishes the list of provincial and territorial regulators where the current position appears.

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.

Places in the smallest population band are grouped here as small communities, and the pages carry the same census fields and the same provincial rules as the largest city.

Indian Bay is one of 322 covered Newfoundland and Labrador places, counted at 172 residents with a land area of 86.5 square kilometres.

At 172 residents in the 2021 Census, Indian Bay is listed alongside the other covered places in Newfoundland and Labrador.

The land area recorded for Indian Bay is 86.5 square kilometres, and the population is 172 residents in the 2021 Census.

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

Indian Bay appears in the census record with 172 residents, and the density of 2.0 people per square kilometre follows from it.

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

The density figure for Indian Bay, 2.0 people per square kilometre, is calculated from the population and land area above.

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

Readers comparing Indian Bay with another community can use the same four census fields.

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

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.