Borrowing in Canal Flats, British Columbia

Canal Flats is one of the British Columbia places covered here, with 802 residents recorded in the 2021 Census and the same provincial rulebook as the rest of the province.

How borrowing works locally

Interest on a line of credit accrues only on the drawn portion, not on the unused limit.

Variable-rate products move with a reference rate, while fixed-rate products set the price for a defined term. Payment history is reported to credit agencies, and that record is what builds or damages a credit file over time.

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.

• Cash advance loans: Immediate short-term cash, including the difference between a cash advance on credit and a payday-style advance.
• Lines of credit: A revolving limit you draw on and repay, usually paying interest only on what is outstanding.

The census figures for Canal Flats

The 2021 Census counted 802 residents in Canal Flats. The census records a land area of 11.1 square kilometres for Canal Flats.

On those two figures, density is 72.4 residents per square kilometre when rounded to one decimal place.

Canal Flats ranks 288 by population among the British Columbia places on this site.

Canal Flats sits at rank 288 among the 460 British Columbia places here, with 802 residents in the 2021 Census.

The British Columbia rules that apply

The body that licenses consumer lending in British Columbia is the regulator named on the federal Payday Lending Regulations (SOR/2024-114)'s list of provincial and territorial regulators.

The federal Payday Lending Regulations (SOR/2024-114) list British Columbia among the provinces that regulate payday lending, where the federal Payday Lending Regulations (SOR/2024-114) cap the cost of borrowing at $14 per $100 advanced.

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.

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

The land area recorded for Canal Flats is 11.1 square kilometres, and the population is 802 residents in the 2021 Census.

At 802 residents in the 2021 Census, Canal Flats is listed alongside the other covered places in British Columbia.

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

Canal Flats sits at rank 288 within British Columbia in this data set, and the provincial rules apply as they do elsewhere.

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

The density figure for Canal Flats, 72.4 people per square kilometre, is calculated from the population and land area above.

Canal Flats is one of 460 covered British Columbia places, counted at 802 residents with a land area of 11.1 square kilometres.

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

Canal Flats appears in the census record with 802 residents, and the density of 72.4 people per square kilometre follows from it.

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.

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