Borrowing in Wabana, Newfoundland and Labrador

Wabana is one of the Newfoundland and Labrador communities covered here, with a 2021 Census population of 1,815, and borrowing there is licensed under Newfoundland and Labrador's consumer credit rules.

Products compared here

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

• Business lines of credit: A revolving operating limit for a business, and why it behaves differently from a term loan.
• Collateral loans: Borrowing against an asset a lender will hold, from vehicles to savings, and what happens on default.

How borrowing works locally

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

Disclosure requirements mean the cost of borrowing must be stated before an agreement is signed. Adding a co-signer puts a second file in front of the lender and adds a second person to the obligation.

The Newfoundland and Labrador rules that apply

Consumer credit in Newfoundland and Labrador is licensed by the provincial or territorial regulator, and the Financial Consumer Agency of Canada publishes the 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.

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

The census figures for Wabana

1,815 people were counted in Wabana in the 2021 Census. The community covers 14.5 square kilometres of land.

Dividing population by land area gives 125.3 residents per square kilometre, rounded to one decimal place.

The community is the 46th largest place in the province within this census set.

Wabana is one of 322 places listed for Newfoundland and Labrador, ranked 46 by population and measured at 14.5 square kilometres.

Wabana sits at rank 46 within Newfoundland and Labrador in this data set, and the provincial rules apply as they do elsewhere.

Wabana appears in the census record with 1,815 residents, and the density of 125.3 people per square kilometre follows from it.

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

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

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

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

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

At 1,815 residents in the 2021 Census, Wabana is listed alongside the other covered places in Newfoundland and Labrador.

Wabana is one of 322 covered Newfoundland and Labrador places, counted at 1,815 residents with a land area of 14.5 square kilometres.

Wabana ranks 46 by 2021 Census population among the covered places in Newfoundland and Labrador.

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).

The provincial rules apply wherever a borrower is in Newfoundland and Labrador; a municipal boundary does not change them.