Borrowing in Thunder Bay, Ontario

With 108,843 residents counted in the 2021 Census, Thunder Bay sits inside Ontario's provincial lending framework.

How borrowing works locally

A credit file is compiled by private agencies from information lenders and other creditors report.

Interest on a line of credit accrues only on the drawn portion, not on the unused limit. Provincial licensing decides who may lend, and federal rules add a ceiling where a licensed payday regime exists.

Products compared here

Each product below has its own page, and the Ontario position applies to all of them.

• Personal loans: A fixed sum repaid on a schedule, usually unsecured, for almost any purpose a lender will accept.
• Mortgage loans: Borrowing against residential property, including how a federally regulated lender tests the file.

The census figures for Thunder Bay

Statistics Canada's 2021 Census gives Thunder Bay a population of 108,843. Land area for Thunder Bay is 327.8 square kilometres in the same census.

The arithmetic gives 332.1 people per square kilometre.

The 2021 Census population places it at rank 25 in the province.

Thunder Bay sits at rank 25 among the 527 Ontario places here, with 108,843 residents in the 2021 Census.

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) count Ontario among the provinces with payday lending rules, where the published maximum cost of borrowing is $14 per $100 advanced under SOR/2024-114.

The upper-middle band covers substantial cities, each licensed under the same provincial framework.

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

The density figure for Thunder Bay, 332.1 people per square kilometre, is calculated from the population and land area above.

Thunder Bay is one of 527 covered Ontario places, counted at 108,843 residents with a land area of 327.8 square kilometres.

The land area recorded for Thunder Bay is 327.8 square kilometres, and the population is 108,843 residents in the 2021 Census.

Thunder Bay sits at rank 25 within Ontario in this data set, and the provincial rules apply as they do elsewhere.

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

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

Thunder Bay ranks 25 by 2021 Census population among the covered places in Ontario.

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

At 108,843 residents in the 2021 Census, Thunder Bay is listed alongside the other covered places in Ontario.

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

Thunder Bay appears in the census record with 108,843 residents, and the density of 332.1 people per square kilometre follows from it.

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.

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