Borrowing in Fogo Island, Newfoundland and Labrador

A loan taken out in Fogo Island is governed by Newfoundland and Labrador's licensing rules, and the 2021 Census counted 2,117 people in the community.

The Newfoundland and Labrador rules that apply

The regulator for consumer credit in Newfoundland and Labrador is the body listed by the federal Payday Lending Regulations (SOR/2024-114) provincial and territorial regulators.

A payday advance in Newfoundland and Labrador 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).

Small places are covered the same way as large ones: census figures for the place, and the provincial position on lending.

The census figures for Fogo Island

In the 2021 Census, Fogo Island had 2,117 residents. Land area for Fogo Island is 238.2 square kilometres in the same census.

The arithmetic gives 8.9 people per square kilometre.

Fogo Island ranks 38 by population among the Newfoundland and Labrador places on this site.

Compared with the other 322 covered Newfoundland and Labrador places, Fogo Island ranks 38 by population.

Products compared here

Each product below has its own page, and the Newfoundland and Labrador position applies to all of them.

• Debt consolidation loans: Replacing several expensive debts with one payment, and the arithmetic that decides whether it helps.
• Personal loans: A fixed sum repaid on a schedule, usually unsecured, for almost any purpose a lender will accept.

How borrowing works locally

A credit file is compiled by private agencies from information lenders and other creditors report.

A longer amortisation lowers each payment and raises the total interest paid over the life of the loan. A prepayment privilege allows a borrower to pay more than the scheduled amount, sometimes with a charge attached.

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

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

At 2,117 residents in the 2021 Census, Fogo Island is listed alongside the other covered places in Newfoundland and Labrador.

Fogo Island appears in the census record with 2,117 residents, and the density of 8.9 people per square kilometre follows from it.

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

The land area recorded for Fogo Island is 238.2 square kilometres, and the population is 2,117 residents in the 2021 Census.

Fogo Island sits at rank 38 within Newfoundland and Labrador in this data set, and the provincial rules apply as they do elsewhere.

Fogo Island ranks 38 by 2021 Census population among the covered places in Newfoundland and Labrador.

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

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

Fogo Island is one of 322 covered Newfoundland and Labrador places, counted at 2,117 residents with a land area of 238.2 square kilometres.

The density figure for Fogo Island, 8.9 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.

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).

The provincial rules apply wherever a borrower is in Newfoundland and Labrador; a municipal boundary does not change them.