Borrowing in Hopedale, Newfoundland and Labrador

Hopedale, Newfoundland and Labrador, recorded a population of 596 in the 2021 Census; the rules that govern a loan signed there are provincial.

The census figures for Hopedale

Population for Hopedale stands at 596 in the 2021 Census. The community covers 2.2 square kilometres of land.

On those two figures, density is 273.4 residents per square kilometre when rounded to one decimal place.

The 2021 Census population places it at rank 127 in the province.

Compared with the other 322 covered Newfoundland and Labrador places, Hopedale ranks 127 by population.

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.

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

How borrowing works locally

A lender's assessment looks at income, existing obligations, the credit file, and the asset pledged where there is one.

A credit file is compiled by private agencies from information lenders and other creditors report. Debt management plans are administered by accredited credit counsellors, and they are not loans.

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.

• Business lines of credit: A revolving operating limit for a business, and why it behaves differently from a term loan.
• Collateral loans: Borrowing against an asset a lender will hold, from vehicles to savings, and what happens on default.

Hopedale is one of 322 covered Newfoundland and Labrador places, counted at 596 residents with a land area of 2.2 square kilometres.

Hopedale ranks 127 by 2021 Census population among the covered places in Newfoundland and Labrador.

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

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

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

Hopedale appears in the census record with 596 residents, and the density of 273.4 people per square kilometre follows from it.

At 596 residents in the 2021 Census, Hopedale is listed alongside the other covered places in Newfoundland and Labrador.

Hopedale sits at rank 127 within Newfoundland and Labrador in this data set, and the provincial rules apply as they do elsewhere.

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

The land area recorded for Hopedale is 2.2 square kilometres, and the population is 596 residents in the 2021 Census.

The density figure for Hopedale, 273.4 people per square kilometre, is calculated from the population and land area above.

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

loanmoose.ca is not a lender and does not make credit decisions. The lowest rates are only available to the most qualified applicants.

Population and land area figures come from Statistics Canada's 2021 Census of Population; regulatory statements are attributed to 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.