Borrowing in Parkers Cove, Newfoundland and Labrador

With 233 residents counted in the 2021 Census, Parkers Cove sits inside Newfoundland and Labrador's provincial lending framework.

The census figures for Parkers Cove

The 2021 Census counted 233 residents in Parkers Cove. Statistics Canada lists 4.8 square kilometres of land for the community.

Dividing population by land area gives 48.8 residents per square kilometre, rounded to one decimal place.

The 2021 Census population places it at rank 251 in the province.

Parkers Cove therefore appears at rank 251 of 322 covered Newfoundland and Labrador places, with a density of 48.8 people per square kilometre.

Products compared here

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

• Instalment loans: A fixed number of fixed payments, sized larger and longer than a payday advance.
• Secured loans: Borrowing against an asset, which lowers the price but puts the asset at risk if you default.

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.

Payday lending is licensed in Newfoundland and Labrador; the federal Payday Lending Regulations (SOR/2024-114) publish a cap of $14 per $100 advanced, and notes that a province may set a lower figure.

At the small end of the census range, the community still borrows inside the province's licensing system.

How borrowing works locally

An application usually asks for identification, income evidence, banking details and a statement of obligations.

Payment history is reported to credit agencies, and that record is what builds or damages a credit file over time. A longer amortisation lowers each payment and raises the total interest paid over the life of the loan.

The land area recorded for Parkers Cove is 4.8 square kilometres, and the population is 233 residents in the 2021 Census.

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

At 233 residents in the 2021 Census, Parkers Cove is listed alongside the other covered places in Newfoundland and Labrador.

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

Parkers Cove is one of 322 covered Newfoundland and Labrador places, counted at 233 residents with a land area of 4.8 square kilometres.

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

Parkers Cove sits at rank 251 within Newfoundland and Labrador in this data set, and the provincial rules apply as they do elsewhere.

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

The density figure for Parkers Cove, 48.8 people per square kilometre, is calculated from the population and land area above.

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

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.

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.