Borrowing in Murray River, Part 1, Prince Edward Island

With 1,422 residents counted in the 2021 Census, Murray River, Part 1 sits inside Prince Edward Island's provincial lending framework.

The Prince Edward Island rules that apply

Licensing for consumer credit in Prince Edward Island sits with the province or territory, and the Financial Consumer Agency of Canada maintains the public list of provincial and territorial regulators.

In Prince Edward Island, payday lending operates under a licensed provincial regime, and the federal Payday Lending Regulations (SOR/2024-114) record a maximum cost of borrowing of $14 for each $100 advanced under SOR/2024-114.

This is a small community by population, inside the lowest band used on this site, and the provincial framework applies without variation.

How borrowing works locally

A lender's assessment looks at income, existing obligations, the credit file, and the asset pledged where there is one.

A provincial regulator publishes licensing requirements, and the Financial Consumer Agency of Canada publishes the list of provincial and territorial regulators. A revolving product charges interest on the outstanding balance, while an instalment product charges a fixed schedule of payments.

The census figures for Murray River, Part 1

Population for Murray River, Part 1 stands at 1,422 in the 2021 Census. The community covers 174.8 square kilometres of land.

The calculated density is 8.1 people per square kilometre.

Murray River, Part 1 ranks 23 by population among the Prince Edward Island places on this site.

Murray River, Part 1 sits at rank 23 among the 91 Prince Edward Island places here, with 1,422 residents in the 2021 Census.

Products compared here

Among the 20 products compared here, these two are commonly used for the purposes described.

• Cash advance loans: Immediate short-term cash, including the difference between a cash advance on credit and a payday-style advance.
• Lines of credit: A revolving limit you draw on and repay, usually paying interest only on what is outstanding.

Murray River, Part 1 sits at rank 23 within Prince Edward Island in this data set, and the provincial rules apply as they do elsewhere.

For Murray River, Part 1, the two census fields above are the only local statistics used anywhere on the page.

The land area recorded for Murray River, Part 1 is 174.8 square kilometres, and the population is 1,422 residents in the 2021 Census.

At 1,422 residents in the 2021 Census, Murray River, Part 1 is listed alongside the other covered places in Prince Edward Island.

The density figure for Murray River, Part 1, 8.1 people per square kilometre, is calculated from the population and land area above.

Murray River, Part 1 ranks 23 by 2021 Census population among the covered places in Prince Edward Island.

Where a figure for Murray River, Part 1 could not be verified, the page names the publisher instead of printing a number.

Murray River, Part 1 is one of 91 covered Prince Edward Island places, counted at 1,422 residents with a land area of 174.8 square kilometres.

The Murray River, Part 1 page follows the same structure as every other place page, with population, land area, density and rank.

Nothing on the Murray River, Part 1 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.

Census figures are from Statistics Canada's 2021 Census of Population, and the payday position is taken from the federal Payday Lending Regulations (SOR/2024-114).

Nothing here is an offer, and no page on this site can tell anyone what a lender will decide.