Borrowing in West Elgin, Ontario

West Elgin is one of the Ontario communities covered here, with a 2021 Census population of 5,060, and borrowing there is licensed under Ontario's consumer credit rules.

The census figures for West Elgin

5,060 people were counted in West Elgin in the 2021 Census. The census records a land area of 322.1 square kilometres for West Elgin.

Dividing population by land area gives 15.7 residents per square kilometre, rounded to one decimal place.

Among covered Ontario places, West Elgin sits at rank 229 by population.

Compared with the other 527 covered Ontario places, West Elgin ranks 229 by population.

The Ontario rules that apply

The regulator for consumer credit in Ontario is the body listed by the federal Payday Lending Regulations (SOR/2024-114) provincial and territorial regulators.

A payday advance in Ontario falls under a provincial licensing regime, and the cost of borrowing is capped at $14 per $100 advanced according to the federal Payday Lending Regulations (SOR/2024-114).

Places in the lower-middle band group smaller towns and municipalities under the same provincial framework.

How borrowing works locally

A provincial regulator publishes licensing requirements, and the Financial Consumer Agency of Canada publishes the list of provincial and territorial regulators.

A lender may ask for proof of address, and a permanent address is a standard requirement for consumer credit. A lender's assessment looks at income, existing obligations, the credit file, and the asset pledged where there is one.

Products compared here

These are two of the 20 products described on the site, and each has a national page as well as the provincial rules.

• Home renovation loans: Paying for work on a property, from a small unsecured instalment loan to a secured renovation product.
• Emergency loans: Money for an urgent expense, and the order in which a sensible borrower works through the options.

Readers comparing West Elgin with another community can use the same four census fields.

West Elgin appears in the census record with 5,060 residents, and the density of 15.7 people per square kilometre follows from it.

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

West Elgin sits at rank 229 within Ontario in this data set, and the provincial rules apply as they do elsewhere.

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

The land area recorded for West Elgin is 322.1 square kilometres, and the population is 5,060 residents in the 2021 Census.

At 5,060 residents in the 2021 Census, West Elgin is listed alongside the other covered places in Ontario.

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

West Elgin ranks 229 by 2021 Census population among the covered places in Ontario.

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

The density figure for West Elgin, 15.7 people per square kilometre, is calculated from the population and land area above.

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.

The same structure is used for every place covered, so two communities can be compared field by field: population, land area, density, rank, and the provincial rules.