Borrowing in Wellington, Prince Edward Island

Wellington, Prince Edward Island, recorded a population of 414 in the 2021 Census; the rules that govern a loan signed there are provincial.

How borrowing works locally

Provincial licensing decides who may lend, and federal rules add a ceiling where a licensed payday regime exists.

A consumer proposal or a bankruptcy is administered by a licensed insolvency trustee rather than by a lender. A deposit or trade-in reduces the amount financed and therefore the interest charged over the term.

Products compared here

The site describes 20 products in total; the two below are representative of the range.

• Business lines of credit: A revolving operating limit for a business, and why it behaves differently from a term loan.
• Collateral loans: Borrowing against an asset a lender will hold, from vehicles to savings, and what happens on default.

The census figures for Wellington

The 2021 Census counted 414 residents in Wellington. Its land area is 1.7 square kilometres.

Dividing population by land area gives 243.5 residents per square kilometre, rounded to one decimal place.

The 2021 Census population places it at rank 50 in the province.

Wellington sits at rank 50 among the 91 Prince Edward Island places here, with 414 residents in the 2021 Census.

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.

At the small end of the census range, the community still borrows inside the province's licensing system.

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

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

Wellington ranks 50 by 2021 Census population among the covered places in Prince Edward Island.

Wellington sits at rank 50 within Prince Edward Island in this data set, and the provincial rules apply as they do elsewhere.

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

Wellington appears in the census record with 414 residents, and the density of 243.5 people per square kilometre follows from it.

The density figure for Wellington, 243.5 people per square kilometre, is calculated from the population and land area above.

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

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

At 414 residents in the 2021 Census, Wellington is listed alongside the other covered places in Prince Edward Island.

Wellington is one of 91 covered Prince Edward Island places, counted at 414 residents with a land area of 1.7 square kilometres.

The land area recorded for Wellington is 1.7 square kilometres, and the population is 414 residents in the 2021 Census.

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).

Compare the disclosure on any agreement against the provincial ceiling, and treat the census figures as the only local statistics on the page.