Borrowing in Stone Mills, Ontario

This page covers borrowing in Stone Mills, Ontario: the census facts, the provincial rules, and the products people compare.

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.

Payday lending is licensed in Ontario; the federal Payday Lending Regulations (SOR/2024-114) publish a cap of $14 per $100 advanced, and notes that a province may set a lower figure.

In the lower-middle band, pages carry the census figures for the place and the same provincial lending position as larger centres.

How borrowing works locally

Interest on a line of credit accrues only on the drawn portion, not on the unused limit.

A prepayment privilege allows a borrower to pay more than the scheduled amount, sometimes with a charge attached. An application usually asks for identification, income evidence, banking details and a statement of obligations.

The census figures for Stone Mills

The 2021 Census counted 7,826 residents in Stone Mills. The census records a land area of 693.7 square kilometres for Stone Mills.

Population divided by land area produces a density of 11.3 people per square kilometre.

Its provincial population rank is 180 within this data set.

Compared with the other 527 covered Ontario places, Stone Mills ranks 180 by population.

Products compared here

Two of the 20 covered products appear below, each with the purpose the product is designed for.

• 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 density figure for Stone Mills, 11.3 people per square kilometre, is calculated from the population and land area above.

The land area recorded for Stone Mills is 693.7 square kilometres, and the population is 7,826 residents in the 2021 Census.

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

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

Stone Mills sits at rank 180 within Ontario in this data set, and the provincial rules apply as they do elsewhere.

Stone Mills appears in the census record with 7,826 residents, and the density of 11.3 people per square kilometre follows from it.

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

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

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

Stone Mills is one of 527 covered Ontario places, counted at 7,826 residents with a land area of 693.7 square kilometres.

At 7,826 residents in the 2021 Census, Stone Mills 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.

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.