Borrowing in Gore Bay, Ontario

With 808 residents counted in the 2021 Census, Gore Bay sits inside Ontario's provincial lending framework.

The census figures for Gore Bay

808 people were counted in Gore Bay in the 2021 Census. 5.1 square kilometres of land are attributed to Gore Bay.

The arithmetic gives 157.2 people per square kilometre.

Among covered Ontario places, Gore Bay sits at rank 378 by population.

Gore Bay therefore appears at rank 378 of 527 covered Ontario places, with a density of 157.2 people per square kilometre.

Products compared here

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

• Unsecured loans: Borrowing with no asset pledged, priced for the risk the lender is taking on your file alone.
• Business loans: Commercial borrowing, what lenders read in a business file, and how the assessment differs from personal credit.

The Ontario rules that apply

Consumer credit in Ontario 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 Ontario 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.

How borrowing works locally

A lender is free to set its own price below the legal ceiling, and it does so according to the risk it reads in the file.

A lender's assessment looks at income, existing obligations, the credit file, and the asset pledged where there is one. A shorter term raises each payment and lowers the total interest, which is the trade every schedule makes.

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

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

The land area recorded for Gore Bay is 5.1 square kilometres, and the population is 808 residents in the 2021 Census.

Gore Bay is one of 527 covered Ontario places, counted at 808 residents with a land area of 5.1 square kilometres.

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

Gore Bay ranks 378 by 2021 Census population among the covered places in Ontario.

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

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

Gore Bay appears in the census record with 808 residents, and the density of 157.2 people per square kilometre follows from it.

At 808 residents in the 2021 Census, Gore Bay is listed alongside the other covered places in Ontario.

Gore Bay sits at rank 378 within Ontario 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.

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 Ontario; a municipal boundary does not change them.