Borrowing in Greater Madawaska, Ontario

Greater Madawaska, Ontario, recorded a population of 2,864 in the 2021 Census; the rules that govern a loan signed there are provincial.

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.

How borrowing works locally

A payday advance is repaid on a pay date, while an instalment loan is repaid over a set number of payments.

A lender's assessment looks at income, existing obligations, the credit file, and the asset pledged where there is one. Interest on a line of credit accrues only on the drawn portion, not on the unused limit.

The Ontario rules that apply

The body that licenses consumer lending in Ontario is the regulator named on the federal Payday Lending Regulations (SOR/2024-114)'s list of provincial and territorial regulators.

The federal payday lending regulations, SOR/2024-114, cap the cost of borrowing at $14 per $100 advanced in Ontario, which the federal Payday Lending Regulations (SOR/2024-114) list as a province that regulates the product.

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

The census figures for Greater Madawaska

In the 2021 Census, Greater Madawaska had 2,864 residents. The census records a land area of 1018.1 square kilometres for Greater Madawaska.

That gives a density of 2.8 people per square kilometre, rounded to one decimal place.

Its provincial population rank is 281 within this data set.

Greater Madawaska sits at rank 281 among the 527 Ontario places here, with 2,864 residents in the 2021 Census.

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

At 2,864 residents in the 2021 Census, Greater Madawaska is listed alongside the other covered places in Ontario.

The land area recorded for Greater Madawaska is 1018.1 square kilometres, and the population is 2,864 residents in the 2021 Census.

Greater Madawaska appears in the census record with 2,864 residents, and the density of 2.8 people per square kilometre follows from it.

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

The density figure for Greater Madawaska, 2.8 people per square kilometre, is calculated from the population and land area above.

Greater Madawaska sits at rank 281 within Ontario in this data set, and the provincial rules apply as they do elsewhere.

Greater Madawaska is one of 527 covered Ontario places, counted at 2,864 residents with a land area of 1018.1 square kilometres.

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

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

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

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.

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