Borrowing in Otter Lake, Quebec

Otter Lake is one of the Quebec communities covered here, with a 2021 Census population of 1,041, and borrowing there is licensed under Quebec's consumer credit rules.

The Quebec rules that apply

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

The federal Payday Lending Regulations (SOR/2024-114) are explicit that Quebec does not license payday lending, which changes which rules a short-term advance falls under.

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

How borrowing works locally

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

Payment history is reported to credit agencies, and that record is what builds or damages a credit file over time. A provincial regulator publishes licensing requirements, and the Financial Consumer Agency of Canada publishes the list of provincial and territorial regulators.

The census figures for Otter Lake

1,041 people were counted in Otter Lake in the 2021 Census. Its land area is 454.7 square kilometres.

Population divided by land area produces a density of 2.3 people per square kilometre.

Among covered Quebec places, Otter Lake sits at rank 644 by population.

Within Quebec, Otter Lake is place number 644 by population in this census set, at 1,041 residents.

Products compared here

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

• Instalment loans: A fixed number of fixed payments, sized larger and longer than a payday advance.
• Secured loans: Borrowing against an asset, which lowers the price but puts the asset at risk if you default.

Otter Lake sits at rank 644 within Quebec in this data set, and the provincial rules apply as they do elsewhere.

The land area recorded for Otter Lake is 454.7 square kilometres, and the population is 1,041 residents in the 2021 Census.

Otter Lake is one of 1150 covered Quebec places, counted at 1,041 residents with a land area of 454.7 square kilometres.

Otter Lake appears in the census record with 1,041 residents, and the density of 2.3 people per square kilometre follows from it.

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

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

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

Otter Lake ranks 644 by 2021 Census population among the covered places in Quebec.

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

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

At 1,041 residents in the 2021 Census, Otter Lake is listed alongside the other covered places in Quebec.

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

Population and land area figures come from Statistics Canada's 2021 Census of Population; regulatory statements are attributed to the federal Payday Lending Regulations (SOR/2024-114).

Lending rules change, and the Financial Consumer Agency of Canada publishes the list of provincial and territorial regulators where the current position is confirmed.