Borrowing in Massey Drive, Newfoundland and Labrador

Massey Drive is one of the Newfoundland and Labrador communities covered here, with a 2021 Census population of 1,606, and borrowing there is licensed under Newfoundland and Labrador's consumer credit rules.

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) 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.

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

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

A deposit or trade-in reduces the amount financed and therefore the interest charged over the term. Provincial licensing decides who may lend, and federal rules add a ceiling where a licensed payday regime exists.

The census figures for Massey Drive

Statistics Canada's 2021 Census gives Massey Drive a population of 1,606. Its land area is 2.5 square kilometres.

Population divided by land area produces a density of 655.5 people per square kilometre.

The 2021 Census population places it at rank 54 in the province.

Compared with the other 322 covered Newfoundland and Labrador places, Massey Drive ranks 54 by population.

Products compared here

The product pages behind this city cover the following borrowing categories, among the 20 products compared nationally.

• Home equity loans: Converting property equity into credit, and the difference between a lump sum and a revolving limit.
• Payday loans: Small, short-term advances against a pay date, the most tightly regulated product in Canadian consumer credit.

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

Readers comparing Massey Drive with another community can use the same four census fields.

Massey Drive is one of 322 covered Newfoundland and Labrador places, counted at 1,606 residents with a land area of 2.5 square kilometres.

Massey Drive ranks 54 by 2021 Census population among the covered places in Newfoundland and Labrador.

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

Massey Drive sits at rank 54 within Newfoundland and Labrador in this data set, and the provincial rules apply as they do elsewhere.

The density figure for Massey Drive, 655.5 people per square kilometre, is calculated from the population and land area above.

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

At 1,606 residents in the 2021 Census, Massey Drive is listed alongside the other covered places in Newfoundland and Labrador.

The land area recorded for Massey Drive is 2.5 square kilometres, and the population is 1,606 residents in the 2021 Census.

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).

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