Borrowing in Serpent River 7, Ontario

Serpent River 7, Ontario, recorded a population of 351 in the 2021 Census; the rules that govern a loan signed there are provincial.

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.

Payment history is reported to credit agencies, and that record is what builds or damages a credit file over time. An application usually asks for identification, income evidence, banking details and a statement of obligations.

Products compared here

The product pages behind this city cover the following borrowing categories, among the 20 products compared nationally.

• Lines of credit: A revolving limit you draw on and repay, usually paying interest only on what is outstanding.
• Home renovation loans: Paying for work on a property, from a small unsecured instalment loan to a secured renovation product.

The census figures for Serpent River 7

Statistics Canada's 2021 Census gives Serpent River 7 a population of 351. Statistics Canada lists 76.1 square kilometres of land for the community.

Dividing population by land area gives 4.6 residents per square kilometre, rounded to one decimal place.

Serpent River 7 ranks 460 by population among the Ontario places on this site.

Serpent River 7 is one of 527 places listed for Ontario, ranked 460 by population and measured at 76.1 square kilometres.

The Ontario rules that apply

Licensing for consumer credit in Ontario sits with the province or territory, and the Financial Consumer Agency of Canada maintains the public 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.

This is a small community by population, inside the lowest band used on this site, and the provincial framework applies without variation.

The density figure for Serpent River 7, 4.6 people per square kilometre, is calculated from the population and land area above.

Serpent River 7 ranks 460 by 2021 Census population among the covered places in Ontario.

At 351 residents in the 2021 Census, Serpent River 7 is listed alongside the other covered places in Ontario.

Where a figure for Serpent River 7 could not be verified, the page names the publisher instead of printing a number.

The land area recorded for Serpent River 7 is 76.1 square kilometres, and the population is 351 residents in the 2021 Census.

For Serpent River 7, the two census fields above are the only local statistics used anywhere on the page.

The Serpent River 7 page follows the same structure as every other place page, with population, land area, density and rank.

Nothing on the Serpent River 7 page is estimated; the population and land area come from Statistics Canada's 2021 Census of Population.

Serpent River 7 appears in the census record with 351 residents, and the density of 4.6 people per square kilometre follows from it.

Serpent River 7 sits at rank 460 within Ontario in this data set, and the provincial rules apply as they do elsewhere.

Readers comparing Serpent River 7 with another community can use the same four census fields.

loanmoose.ca is not a lender and does not make credit decisions. The lowest rates are only available to the most qualified applicants.

The 2021 Census of Population published by Statistics Canada is the source for population and land area; the federal Payday Lending Regulations (SOR/2024-114) are the source for payday rules.

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