Borrowing in Little Bay, Newfoundland and Labrador

Little Bay is one of the Newfoundland and Labrador communities covered here, with a 2021 Census population of 100, 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.

A lender may ask for proof of address, and a permanent address is a standard requirement for consumer credit. A provincial regulator publishes licensing requirements, and the Financial Consumer Agency of Canada publishes the list of provincial and territorial regulators.

Products compared here

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

• 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.

The census figures for Little Bay

The 2021 Census counted 100 residents in Little Bay. The census records a land area of 1.7 square kilometres for Little Bay.

The calculated density is 60.2 people per square kilometre.

Little Bay ranks 322 by population among the Newfoundland and Labrador places on this site.

Compared with the other 322 covered Newfoundland and Labrador places, Little Bay ranks 322 by population.

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.

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.

The lowest band groups villages, rural municipalities and small towns, all read against the same provincial rulebook.

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

Little Bay appears in the census record with 100 residents, and the density of 60.2 people per square kilometre follows from it.

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

At 100 residents in the 2021 Census, Little Bay is listed alongside the other covered places in Newfoundland and Labrador.

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

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

The land area recorded for Little Bay is 1.7 square kilometres, and the population is 100 residents in the 2021 Census.

Little Bay sits at rank 322 within Newfoundland and Labrador in this data set, and the provincial rules apply as they do elsewhere.

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

The density figure for Little Bay, 60.2 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.

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.

The same structure is used for every place covered, so two communities can be compared field by field: population, land area, density, rank, and the provincial rules.