Borrowing in Midland, Ontario

A loan taken out in Midland is governed by Ontario's licensing rules, and the 2021 Census counted 17,817 people in the community.

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 deposit or trade-in reduces the amount financed and therefore the interest charged over the term. An application usually asks for identification, income evidence, banking details and a statement of obligations.

Products compared here

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

• Payday loans: Small, short-term advances against a pay date, the most tightly regulated product in Canadian consumer credit.
• No credit check loans: What lenders who advertise without a credit check actually look at instead, and where the cost goes.

The census figures for Midland

In the 2021 Census, Midland had 17,817 residents. The community covers 35.3 square kilometres of land.

Population divided by land area produces a density of 504.3 people per square kilometre.

The 2021 Census population places it at rank 99 in the province.

Compared with the other 527 covered Ontario places, Midland ranks 99 by population.

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.

Places in the lower-middle band group smaller towns and municipalities under the same provincial framework.

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

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

At 17,817 residents in the 2021 Census, Midland is listed alongside the other covered places in Ontario.

Midland ranks 99 by 2021 Census population among the covered places in Ontario.

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

Midland is one of 527 covered Ontario places, counted at 17,817 residents with a land area of 35.3 square kilometres.

Midland sits at rank 99 within Ontario in this data set, and the provincial rules apply as they do elsewhere.

Midland appears in the census record with 17,817 residents, and the density of 504.3 people per square kilometre follows from it.

The density figure for Midland, 504.3 people per square kilometre, is calculated from the population and land area above.

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

The land area recorded for Midland is 35.3 square kilometres, and the population is 17,817 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.

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.

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