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Borrowing in Petrolia, Ontario

Petrolia, Ontario: 6,013 residents in the 2021 Census, 12.5 square kilometres of land, and the provincial lending rules that apply across Ontario.

Province Ontario (ON)
Population, 2021 Census 6,013
Land area 12.5 km²
Provincial regulator See the FCAC list

Petrolia, Ontario, recorded a population of 6,013 in the 2021 Census; the rules that govern a loan signed there are provincial.

The Ontario rules that apply

The regulator for consumer credit in Ontario is the body listed by the federal Payday Lending Regulations (SOR/2024-114) provincial and territorial regulators.

A payday advance in Ontario falls under a provincial licensing regime, and the cost of borrowing is capped at $14 per $100 advanced according to the federal Payday Lending Regulations (SOR/2024-114).

This community sits in the lower-middle population band, which changes the census figures rather than the rules.

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 longer amortisation lowers each payment and raises the total interest paid over the life of the loan. A mortgage is registered against the property, which is what gives the lender its claim.

The census figures for Petrolia

Petrolia recorded a population of 6,013 in Statistics Canada's 2021 Census of Population. Land area for Petrolia is 12.5 square kilometres in the same census.

The calculated density is 482.6 people per square kilometre.

Petrolia ranks 216 by population among the Ontario places on this site.

Petrolia is one of 527 places listed for Ontario, ranked 216 by population and measured at 12.5 square kilometres.

Products compared here

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

  • 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.

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

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

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

Petrolia appears in the census record with 6,013 residents, and the density of 482.6 people per square kilometre follows from it.

The density figure for Petrolia, 482.6 people per square kilometre, is calculated from the population and land area above.

Petrolia ranks 216 by 2021 Census population among the covered places in Ontario.

Petrolia is one of 527 covered Ontario places, counted at 6,013 residents with a land area of 12.5 square kilometres.

Petrolia sits at rank 216 within Ontario in this data set, and the provincial rules apply as they do elsewhere.

The land area recorded for Petrolia is 12.5 square kilometres, and the population is 6,013 residents in the 2021 Census.

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

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

At 6,013 residents in the 2021 Census, Petrolia is listed alongside the other covered places in Ontario.

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).

Compare the disclosure on any agreement against the provincial ceiling, and treat the census figures as the only local statistics on the page.

Population and land area: Statistics Canada, Census of Population 2021, table 98-10-0002.

Borrowing in Petrolia

Personal loans A fixed sum repaid on a schedule, usually unsecured, for almost any purpose a lender will accept. Bad credit loans Borrowing when the credit file is damaged, and what changes about price and security as a result. No credit check loans What lenders who advertise without a credit check actually look at instead, and where the cost goes. Lines of credit A revolving limit you draw on and repay, usually paying interest only on what is outstanding. Unsecured loans Borrowing with no asset pledged, priced for the risk the lender is taking on your file alone. Secured loans Borrowing against an asset, which lowers the price but puts the asset at risk if you default. Car loans Financing a vehicle, including the effect of trade-in equity, negative equity and dealer-arranged credit. Mortgage loans Borrowing against residential property, including how a federally regulated lender tests the file. Home equity loans Converting property equity into credit, and the difference between a lump sum and a revolving limit. Mortgage refinancing Replacing an existing mortgage to change the rate, the term or the amount borrowed, and what it costs. Home renovation loans Paying for work on a property, from a small unsecured instalment loan to a secured renovation product. Business loans Commercial borrowing, what lenders read in a business file, and how the assessment differs from personal credit. Business lines of credit A revolving operating limit for a business, and why it behaves differently from a term loan. Debt consolidation loans Replacing several expensive debts with one payment, and the arithmetic that decides whether it helps. Debt relief programs The formal and informal routes out of unmanageable debt in Canada, and who is licensed to run them. Payday loans Small, short-term advances against a pay date, the most tightly regulated product in Canadian consumer credit. Cash advance loans Immediate short-term cash, including the difference between a cash advance on credit and a payday-style advance. Emergency loans Money for an urgent expense, and the order in which a sensible borrower works through the options. Instalment loans A fixed number of fixed payments, sized larger and longer than a payday advance. Collateral loans Borrowing against an asset a lender will hold, from vehicles to savings, and what happens on default.

Nearby places

Toronto 2,794,356 Ottawa 1,017,449 Mississauga 717,961 Brampton 656,480 Hamilton 569,353 London 422,324

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