Borrowing in South Algonquin, Ontario

With 1,055 residents counted in the 2021 Census, South Algonquin sits inside Ontario's provincial lending framework.

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 South Algonquin

South Algonquin recorded a population of 1,055 in Statistics Canada's 2021 Census of Population. Statistics Canada lists 867.7 square kilometres of land for the community.

On those two figures, density is 1.2 residents per square kilometre when rounded to one decimal place.

Among covered Ontario places, South Algonquin sits at rank 351 by population.

Within Ontario, South Algonquin is place number 351 by population in this census set, at 1,055 residents.

Products compared here

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

• No credit check loans: What lenders who advertise without a credit check actually look at instead, and where the cost goes.
• Mortgage refinancing: Replacing an existing mortgage to change the rate, the term or the amount borrowed, and what it costs.

How borrowing works locally

A mortgage is registered against the property, which is what gives the lender its claim.

Interest on a line of credit accrues only on the drawn portion, not on the unused limit. A secured product gives the lender a claim on a named asset, which is why its price is usually lower than an unsecured equivalent.

The land area recorded for South Algonquin is 867.7 square kilometres, and the population is 1,055 residents in the 2021 Census.

South Algonquin appears in the census record with 1,055 residents, and the density of 1.2 people per square kilometre follows from it.

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

At 1,055 residents in the 2021 Census, South Algonquin is listed alongside the other covered places in Ontario.

South Algonquin ranks 351 by 2021 Census population among the covered places in Ontario.

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

South Algonquin sits at rank 351 within Ontario in this data set, and the provincial rules apply as they do elsewhere.

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

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

South Algonquin is one of 527 covered Ontario places, counted at 1,055 residents with a land area of 867.7 square kilometres.

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

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.

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