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Borrowing in Sherbrooke, Prince Edward Island

How borrowing works in Sherbrooke, Prince Edward Island, where the 2021 Census counted 178 residents.

Province Prince Edward Island (PE)
Population, 2021 Census 178
Land area 8.9 km²
Provincial regulator See the FCAC list

A loan taken out in Sherbrooke is governed by Prince Edward Island's licensing rules, and the 2021 Census counted 178 people in the community.

The Prince Edward Island rules that apply

Provincial or territorial law decides who may lend in Prince Edward Island, and the Financial Consumer Agency of Canada publishes the list that names the regulator responsible.

The federal Payday Lending Regulations (SOR/2024-114) count Prince Edward Island among the provinces with payday lending rules, where the published maximum cost of borrowing is $14 per $100 advanced under SOR/2024-114.

Places in the smallest population band are grouped here as small communities, and the pages carry the same census fields and the same provincial rules as the largest city.

How borrowing works locally

A mortgage is registered against the property, which is what gives the lender its claim.

A consumer proposal or a bankruptcy is administered by a licensed insolvency trustee rather than by a lender. Disclosure requirements mean the cost of borrowing must be stated before an agreement is signed.

The census figures for Sherbrooke

Population for Sherbrooke stands at 178 in the 2021 Census. Its land area is 8.9 square kilometres.

The arithmetic gives 19.9 people per square kilometre.

By population it ranks 83 among the Prince Edward Island places covered here.

The place record for Sherbrooke covers 8.9 square kilometres and 178 residents, a density of 19.9 people per square kilometre.

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.

  • Mortgage refinancing: Replacing an existing mortgage to change the rate, the term or the amount borrowed, and what it costs.
  • Cash advance loans: Immediate short-term cash, including the difference between a cash advance on credit and a payday-style advance.

The density figure for Sherbrooke, 19.9 people per square kilometre, is calculated from the population and land area above.

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

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

Sherbrooke is one of 91 covered Prince Edward Island places, counted at 178 residents with a land area of 8.9 square kilometres.

Sherbrooke ranks 83 by 2021 Census population among the covered places in Prince Edward Island.

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

Sherbrooke sits at rank 83 within Prince Edward Island in this data set, and the provincial rules apply as they do elsewhere.

Sherbrooke appears in the census record with 178 residents, and the density of 19.9 people per square kilometre follows from it.

The land area recorded for Sherbrooke is 8.9 square kilometres, and the population is 178 residents in the 2021 Census.

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

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

At 178 residents in the 2021 Census, Sherbrooke is listed alongside the other covered places in Prince Edward Island.

loanmoose.ca is not a lender and does not make credit decisions. The lowest rates are only available to the most qualified applicants.

The 2021 Census of Population published by Statistics Canada is the source for population and land area; the federal Payday Lending Regulations (SOR/2024-114) are the source for payday rules.

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

Population and land area: Statistics Canada, Census of Population 2021, table 98-10-0002.

Borrowing in Sherbrooke

Personal loans A fixed sum repaid on a schedule, usually unsecured, for almost any purpose a lender will accept. Bad credit loans Borrowing when the credit file is damaged, and what changes about price and security as a result. No credit check loans What lenders who advertise without a credit check actually look at instead, and where the cost goes. Lines of credit A revolving limit you draw on and repay, usually paying interest only on what is outstanding. Unsecured loans Borrowing with no asset pledged, priced for the risk the lender is taking on your file alone. Secured loans Borrowing against an asset, which lowers the price but puts the asset at risk if you default. Car loans Financing a vehicle, including the effect of trade-in equity, negative equity and dealer-arranged credit. Mortgage loans Borrowing against residential property, including how a federally regulated lender tests the file. Home equity loans Converting property equity into credit, and the difference between a lump sum and a revolving limit. Mortgage refinancing Replacing an existing mortgage to change the rate, the term or the amount borrowed, and what it costs. Home renovation loans Paying for work on a property, from a small unsecured instalment loan to a secured renovation product. Business loans Commercial borrowing, what lenders read in a business file, and how the assessment differs from personal credit. Business lines of credit A revolving operating limit for a business, and why it behaves differently from a term loan. Debt consolidation loans Replacing several expensive debts with one payment, and the arithmetic that decides whether it helps. Debt relief programs The formal and informal routes out of unmanageable debt in Canada, and who is licensed to run them. Payday loans Small, short-term advances against a pay date, the most tightly regulated product in Canadian consumer credit. Cash advance loans Immediate short-term cash, including the difference between a cash advance on credit and a payday-style advance. Emergency loans Money for an urgent expense, and the order in which a sensible borrower works through the options. Instalment loans A fixed number of fixed payments, sized larger and longer than a payday advance. Collateral loans Borrowing against an asset a lender will hold, from vehicles to savings, and what happens on default.

Nearby places

Charlottetown 38,809 Summerside 16,001 Stratford 10,927 Three Rivers 7,883 Cornwall 6,574 New Glasgow 4,277

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