Borrowing in Ming's Bight, Newfoundland and Labrador

Ming's Bight, Newfoundland and Labrador, recorded a population of 298 in the 2021 Census; the rules that govern a loan signed there are provincial.

Products compared here

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

• 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.

How borrowing works locally

Variable-rate products move with a reference rate, while fixed-rate products set the price for a defined term.

A consumer proposal or a bankruptcy is administered by a licensed insolvency trustee rather than by a lender. Disclosure requirements mean the cost of borrowing must be stated before an agreement is signed.

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) 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.

This is a small community by population, inside the lowest band used on this site, and the provincial framework applies without variation.

The census figures for Ming's Bight

The 2021 Census counted 298 residents in Ming's Bight. The community covers 3.8 square kilometres of land.

Population divided by land area produces a density of 78.2 people per square kilometre.

By population it ranks 220 among the Newfoundland and Labrador places covered here.

Within Newfoundland and Labrador, Ming's Bight is place number 220 by population in this census set, at 298 residents.

Ming's Bight ranks 220 by 2021 Census population among the covered places in Newfoundland and Labrador.

At 298 residents in the 2021 Census, Ming's Bight is listed alongside the other covered places in Newfoundland and Labrador.

Readers comparing Ming's Bight with another community can use the same four census fields.

Ming's Bight is one of 322 covered Newfoundland and Labrador places, counted at 298 residents with a land area of 3.8 square kilometres.

Where a figure for Ming's Bight could not be verified, the page names the publisher instead of printing a number.

Ming's Bight sits at rank 220 within Newfoundland and Labrador in this data set, and the provincial rules apply as they do elsewhere.

The density figure for Ming's Bight, 78.2 people per square kilometre, is calculated from the population and land area above.

For Ming's Bight, the two census fields above are the only local statistics used anywhere on the page.

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

The land area recorded for Ming's Bight is 3.8 square kilometres, and the population is 298 residents in the 2021 Census.

Ming's Bight appears in the census record with 298 residents, and the density of 78.2 people per square kilometre follows from it.

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 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.