Borrowing in Cormack, Newfoundland and Labrador

This page covers borrowing in Cormack, Newfoundland and Labrador: the census facts, the provincial rules, and the products people compare.

The Newfoundland and Labrador rules that apply

The body that licenses consumer lending in Newfoundland and Labrador 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 Newfoundland and Labrador 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.

At the small end of the census range, the community still borrows inside the province's licensing system.

How borrowing works locally

Adding a co-signer puts a second file in front of the lender and adds a second person to the obligation.

A deposit or trade-in reduces the amount financed and therefore the interest charged over the term. Joint applications combine two incomes and two sets of obligations in the same assessment.

The census figures for Cormack

Population for Cormack stands at 492 in the 2021 Census. Its land area is 133.7 square kilometres.

The arithmetic gives 3.7 people per square kilometre.

The 2021 Census population places it at rank 162 in the province.

Within Newfoundland and Labrador, Cormack is place number 162 by population in this census set, at 492 residents.

Products compared here

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

• Payday loans: Small, short-term advances against a pay date, the most tightly regulated product in Canadian consumer credit.
• No credit check loans: What lenders who advertise without a credit check actually look at instead, and where the cost goes.

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

Cormack sits at rank 162 within Newfoundland and Labrador in this data set, and the provincial rules apply as they do elsewhere.

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

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

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

Cormack is one of 322 covered Newfoundland and Labrador places, counted at 492 residents with a land area of 133.7 square kilometres.

The land area recorded for Cormack is 133.7 square kilometres, and the population is 492 residents in the 2021 Census.

Cormack ranks 162 by 2021 Census population among the covered places in Newfoundland and Labrador.

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

At 492 residents in the 2021 Census, Cormack is listed alongside the other covered places in Newfoundland and Labrador.

Cormack appears in the census record with 492 residents, and the density of 3.7 people per square kilometre follows from it.

The density figure for Cormack, 3.7 people per square kilometre, is calculated from the population and land area above.

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.