Borrowing in Strathroy-Caradoc, Ontario

A loan taken out in Strathroy-Caradoc is governed by Ontario's licensing rules, and the 2021 Census counted 23,871 people in the community.

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.

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

How borrowing works locally

A shorter term raises each payment and lowers the total interest, which is the trade every schedule makes.

A revolving product charges interest on the outstanding balance, while an instalment product charges a fixed schedule 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.

The census figures for Strathroy-Caradoc

In the 2021 Census, Strathroy-Caradoc had 23,871 residents. Its land area is 270.9 square kilometres.

On those two figures, density is 88.1 residents per square kilometre when rounded to one decimal place.

Its provincial population rank is 72 within this data set.

Within Ontario, Strathroy-Caradoc is place number 72 by population in this census set, at 23,871 residents.

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.

Strathroy-Caradoc ranks 72 by 2021 Census population among the covered places in Ontario.

Strathroy-Caradoc appears in the census record with 23,871 residents, and the density of 88.1 people per square kilometre follows from it.

At 23,871 residents in the 2021 Census, Strathroy-Caradoc is listed alongside the other covered places in Ontario.

Strathroy-Caradoc is one of 527 covered Ontario places, counted at 23,871 residents with a land area of 270.9 square kilometres.

Readers comparing Strathroy-Caradoc with another community can use the same four census fields.

The density figure for Strathroy-Caradoc, 88.1 people per square kilometre, is calculated from the population and land area above.

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

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

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

Nothing on the Strathroy-Caradoc 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.

Population and land area figures come from Statistics Canada's 2021 Census of Population; regulatory statements are attributed to the federal Payday Lending Regulations (SOR/2024-114).

The provincial rules apply wherever a borrower is in Ontario; a municipal boundary does not change them.