Borrowing in Melfort, Saskatchewan

With 5,955 residents counted in the 2021 Census, Melfort sits inside Saskatchewan's provincial lending framework.

The census figures for Melfort

Melfort recorded a population of 5,955 in Statistics Canada's 2021 Census of Population. 14.7 square kilometres of land are attributed to Melfort.

On those two figures, density is 404.3 residents per square kilometre when rounded to one decimal place.

The 2021 Census population places it at rank 15 in the province.

Melfort sits at rank 15 among the 733 Saskatchewan places here, with 5,955 residents in the 2021 Census.

Products compared here

The product pages behind this city cover the following borrowing categories, among the 20 products compared nationally.

• Secured loans: Borrowing against an asset, which lowers the price but puts the asset at risk if you default.
• Business lines of credit: A revolving operating limit for a business, and why it behaves differently from a term loan.

The Saskatchewan rules that apply

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

In Saskatchewan, 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 under the federal limit (this province's own published limit is $17 per $100 advanced, the top of the range the Regulations describe) advanced under SOR/2024-114.

Size changes the census figures, not the rules; this community falls in the lower-middle band.

How borrowing works locally

A shorter term raises each payment and lowers the total interest, which is the trade every schedule makes.

A lender's assessment looks at income, existing obligations, the credit file, and the asset pledged where there is one. Debt management plans are administered by accredited credit counsellors, and they are not loans.

The density figure for Melfort, 404.3 people per square kilometre, is calculated from the population and land area above.

Melfort appears in the census record with 5,955 residents, and the density of 404.3 people per square kilometre follows from it.

At 5,955 residents in the 2021 Census, Melfort is listed alongside the other covered places in Saskatchewan.

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

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

Melfort is one of 733 covered Saskatchewan places, counted at 5,955 residents with a land area of 14.7 square kilometres.

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

Melfort sits at rank 15 within Saskatchewan in this data set, and the provincial rules apply as they do elsewhere.

The land area recorded for Melfort is 14.7 square kilometres, and the population is 5,955 residents in the 2021 Census.

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

Nothing on the Melfort 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.

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.

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.