Borrowing in Midway, British Columbia

With 651 residents counted in the 2021 Census, Midway sits inside British Columbia's provincial lending framework.

The census figures for Midway

Statistics Canada's 2021 Census gives Midway a population of 651. The community covers 12.2 square kilometres of land.

That gives a density of 53.2 people per square kilometre, rounded to one decimal place.

The 2021 Census population places it at rank 304 in the province.

Compared with the other 460 covered British Columbia places, Midway ranks 304 by population.

The British Columbia rules that apply

Consumer credit in British Columbia is licensed by the provincial or territorial regulator, and the Financial Consumer Agency of Canada publishes the list of provincial and territorial regulators.

In British Columbia, 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 advanced under SOR/2024-114.

This is a small community by population, inside the lowest band used on this site, and the provincial framework applies without variation.

How borrowing works locally

Joint applications combine two incomes and two sets of obligations in the same assessment.

A deposit or trade-in reduces the amount financed and therefore the interest charged over the term. A mortgage is registered against the property, which is what gives the lender its claim.

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.

• Mortgage loans: Borrowing against residential property, including how a federally regulated lender tests the file.
• Debt relief programs: The formal and informal routes out of unmanageable debt in Canada, and who is licensed to run them.

Midway is one of 460 covered British Columbia places, counted at 651 residents with a land area of 12.2 square kilometres.

The density figure for Midway, 53.2 people per square kilometre, is calculated from the population and land area above.

Midway appears in the census record with 651 residents, and the density of 53.2 people per square kilometre follows from it.

At 651 residents in the 2021 Census, Midway is listed alongside the other covered places in British Columbia.

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

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

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

Midway sits at rank 304 within British Columbia in this data set, and the provincial rules apply as they do elsewhere.

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

The land area recorded for Midway is 12.2 square kilometres, and the population is 651 residents in the 2021 Census.

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

Midway ranks 304 by 2021 Census population among the covered places in British Columbia.

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).

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