Borrowing in Sooke, British Columbia

With 15,086 residents counted in the 2021 Census, Sooke sits inside British Columbia's provincial lending framework.

The census figures for Sooke

Sooke recorded a population of 15,086 in Statistics Canada's 2021 Census of Population. Its land area is 56.6 square kilometres.

Population divided by land area produces a density of 266.5 people per square kilometre.

Its provincial population rank is 45 within this data set.

Compared with the other 460 covered British Columbia places, Sooke ranks 45 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.

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.

In the lower-middle band, pages carry the census figures for the place and the same provincial lending position as larger centres.

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. A broker arranges credit but does not lend, and the lender remains the party that makes the decision.

Products compared here

The site describes 20 products in total; the two below are representative of the range.

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

Sooke ranks 45 by 2021 Census population among the covered places in British Columbia.

At 15,086 residents in the 2021 Census, Sooke is listed alongside the other covered places in British Columbia.

Sooke appears in the census record with 15,086 residents, and the density of 266.5 people per square kilometre follows from it.

Sooke is one of 460 covered British Columbia places, counted at 15,086 residents with a land area of 56.6 square kilometres.

The land area recorded for Sooke is 56.6 square kilometres, and the population is 15,086 residents in the 2021 Census.

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

The density figure for Sooke, 266.5 people per square kilometre, is calculated from the population and land area above.

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

Sooke sits at rank 45 within British Columbia in this data set, and the provincial rules apply as they do elsewhere.

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

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

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.

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