Borrowing in Elk Point, Alberta

This page covers borrowing in Elk Point, Alberta: the census facts, the provincial rules, and the products people compare.

The Alberta rules that apply

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

A payday advance in Alberta falls under a provincial licensing regime, and the cost of borrowing is capped at $14 per $100 advanced according to the federal Payday Lending Regulations (SOR/2024-114).

The lowest band groups villages, rural municipalities and small towns, all read against the same provincial rulebook.

The census figures for Elk Point

Statistics Canada's 2021 Census gives Elk Point a population of 1,399. Its land area is 4.9 square kilometres.

Population divided by land area produces a density of 284.9 people per square kilometre.

The community is the 168th largest place in the province within this census set.

Elk Point therefore appears at rank 168 of 361 covered Alberta places, with a density of 284.9 people per square kilometre.

Products compared here

Two of the 20 covered products appear below, each with the purpose the product is designed for.

• Bad credit loans: Borrowing when the credit file is damaged, and what changes about price and security as a result.
• Home equity loans: Converting property equity into credit, and the difference between a lump sum and a revolving limit.

How borrowing works locally

A revolving product charges interest on the outstanding balance, while an instalment product charges a fixed schedule of payments.

A deposit or trade-in reduces the amount financed and therefore the interest charged over the term. Interest on a line of credit accrues only on the drawn portion, not on the unused limit.

The land area recorded for Elk Point is 4.9 square kilometres, and the population is 1,399 residents in the 2021 Census.

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

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

Elk Point sits at rank 168 within Alberta in this data set, and the provincial rules apply as they do elsewhere.

Elk Point appears in the census record with 1,399 residents, and the density of 284.9 people per square kilometre follows from it.

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

Elk Point is one of 361 covered Alberta places, counted at 1,399 residents with a land area of 4.9 square kilometres.

Elk Point ranks 168 by 2021 Census population among the covered places in Alberta.

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

The density figure for Elk Point, 284.9 people per square kilometre, is calculated from the population and land area above.

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

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

Statistics Canada's 2021 Census of Population supplies the population and land-area figures, and the federal Payday Lending Regulations (SOR/2024-114) supply the payday position.

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