Borrowing in Selwyn, Ontario

A loan taken out in Selwyn is governed by Ontario's licensing rules, and the 2021 Census counted 18,653 people in the community.

How borrowing works locally

A provincial regulator publishes licensing requirements, and the Financial Consumer Agency of Canada publishes the list of provincial and territorial regulators.

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

Products compared here

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

• Instalment loans: A fixed number of fixed payments, sized larger and longer than a payday advance.
• Secured loans: Borrowing against an asset, which lowers the price but puts the asset at risk if you default.

The census figures for Selwyn

Selwyn recorded a population of 18,653 in Statistics Canada's 2021 Census of Population. The community covers 316.1 square kilometres of land.

That gives a density of 59.0 people per square kilometre, rounded to one decimal place.

Selwyn ranks 93 by population among the Ontario places on this site.

Compared with the other 527 covered Ontario places, Selwyn ranks 93 by population.

The Ontario rules that apply

Provincial or territorial law decides who may lend in Ontario, and the Financial Consumer Agency of Canada publishes the list that names the regulator responsible.

In Ontario, payday lending operates under a licensed provincial regime, and the federal Payday Lending Regulations (SOR/2024-114) record a maximum cost of borrowing of $14 for each $100 advanced under SOR/2024-114.

The lower-middle band covers towns of moderate size, none of which sets its own lending rules.

Selwyn is one of 527 covered Ontario places, counted at 18,653 residents with a land area of 316.1 square kilometres.

Selwyn ranks 93 by 2021 Census population among the covered places in Ontario.

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

Selwyn sits at rank 93 within Ontario in this data set, and the provincial rules apply as they do elsewhere.

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

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

The land area recorded for Selwyn is 316.1 square kilometres, and the population is 18,653 residents in the 2021 Census.

At 18,653 residents in the 2021 Census, Selwyn is listed alongside the other covered places in Ontario.

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

Selwyn appears in the census record with 18,653 residents, and the density of 59.0 people per square kilometre follows from it.

The density figure for Selwyn, 59.0 people per square kilometre, is calculated from the population and land area above.

Nothing on the Selwyn 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.

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.