Borrowing in Paradise, Newfoundland and Labrador

Paradise is one of the Newfoundland and Labrador communities covered here, with a 2021 Census population of 22,957, and borrowing there is licensed under Newfoundland and Labrador's consumer credit rules.

Products compared here

Two of the 20 covered products appear below, each with the purpose the product is designed for.

• 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.

How borrowing works locally

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

A lender is free to set its own price below the legal ceiling, and it does so according to the risk it reads in the file. A broker arranges credit but does not lend, and the lender remains the party that makes the decision.

The Newfoundland and Labrador rules that apply

Consumer credit in Newfoundland and Labrador is licensed by the provincial or territorial regulator, and the Financial Consumer Agency of Canada publishes the list of provincial and territorial regulators.

The federal payday lending regulations, SOR/2024-114, cap the cost of borrowing at $14 per $100 advanced in Newfoundland and Labrador, which the federal Payday Lending Regulations (SOR/2024-114) list as a province that regulates the product.

Municipalities of this size are grouped together here, with the province setting the licensing position for all of them.

The census figures for Paradise

In the 2021 Census, Paradise had 22,957 residents. Its land area is 29.7 square kilometres.

On those two figures, density is 773.7 residents per square kilometre when rounded to one decimal place.

The 2021 Census population places it at rank 3 in the province.

Paradise is one of 322 places listed for Newfoundland and Labrador, ranked 3 by population and measured at 29.7 square kilometres.

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

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

Paradise is one of 322 covered Newfoundland and Labrador places, counted at 22,957 residents with a land area of 29.7 square kilometres.

Paradise ranks 3 by 2021 Census population among the covered places in Newfoundland and Labrador.

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

At 22,957 residents in the 2021 Census, Paradise is listed alongside the other covered places in Newfoundland and Labrador.

The land area recorded for Paradise is 29.7 square kilometres, and the population is 22,957 residents in the 2021 Census.

Paradise appears in the census record with 22,957 residents, and the density of 773.7 people per square kilometre follows from it.

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

Paradise sits at rank 3 within Newfoundland and Labrador in this data set, and the provincial rules apply as they do elsewhere.

The density figure for Paradise, 773.7 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.