Borrowing in Labrador City, Newfoundland and Labrador

With 7,412 residents counted in the 2021 Census, Labrador City sits inside Newfoundland and Labrador's provincial lending framework.

The Newfoundland and Labrador rules that apply

Provincial or territorial law decides who may lend in Newfoundland and Labrador, and the Financial Consumer Agency of Canada publishes the list that names the regulator responsible.

The federal Payday Lending Regulations (SOR/2024-114) count Newfoundland and Labrador among the provinces with payday lending rules, where the published maximum cost of borrowing is $14 per $100 advanced under SOR/2024-114.

The lower-middle band covers towns of moderate size, none of which sets its own lending rules.

How borrowing works locally

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

A broker arranges credit but does not lend, and the lender remains the party that makes the decision. Provincial licensing decides who may lend, and federal rules add a ceiling where a licensed payday regime exists.

The census figures for Labrador City

Population for Labrador City stands at 7,412 in the 2021 Census. The census records a land area of 34.1 square kilometres for Labrador City.

The calculated density is 217.3 people per square kilometre.

Its provincial population rank is 11 within this data set.

Labrador City therefore appears at rank 11 of 322 covered Newfoundland and Labrador places, with a density of 217.3 people per square kilometre.

Products compared here

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

• Home equity loans: Converting property equity into credit, and the difference between a lump sum and a revolving limit.
• Payday loans: Small, short-term advances against a pay date, the most tightly regulated product in Canadian consumer credit.

Labrador City is one of 322 covered Newfoundland and Labrador places, counted at 7,412 residents with a land area of 34.1 square kilometres.

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

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

The density figure for Labrador City, 217.3 people per square kilometre, is calculated from the population and land area above.

Labrador City ranks 11 by 2021 Census population among the covered places in Newfoundland and Labrador.

The land area recorded for Labrador City is 34.1 square kilometres, and the population is 7,412 residents in the 2021 Census.

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

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

Labrador City sits at rank 11 within Newfoundland and Labrador in this data set, and the provincial rules apply as they do elsewhere.

At 7,412 residents in the 2021 Census, Labrador City is listed alongside the other covered places in Newfoundland and Labrador.

Labrador City appears in the census record with 7,412 residents, and the density of 217.3 people per square kilometre follows from it.

Readers comparing Labrador City 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.

The same structure is used for every place covered, so two communities can be compared field by field: population, land area, density, rank, and the provincial rules.