Borrowing in Pilley's Island, Newfoundland and Labrador

A loan taken out in Pilley's Island is governed by Newfoundland and Labrador's licensing rules, and the 2021 Census counted 286 people in the community.

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.

• Secured loans: Borrowing against an asset, which lowers the price but puts the asset at risk if you default.
• Business lines of credit: A revolving operating limit for a business, and why it behaves differently from a term loan.

How borrowing works locally

A payday advance is repaid on a pay date, while an instalment loan is repaid over a set number of payments.

A credit file is compiled by private agencies from information lenders and other creditors report. A prepayment privilege allows a borrower to pay more than the scheduled amount, sometimes with a charge attached.

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.

A payday advance in Newfoundland and Labrador falls under a provincial licensing regime, and the cost of borrowing is capped at $14 per $100 advanced according to the federal Payday Lending Regulations (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 Pilley's Island

The 2021 Census counted 286 residents in Pilley's Island. Its land area is 34.6 square kilometres.

Dividing population by land area gives 8.3 residents per square kilometre, rounded to one decimal place.

The community is the 226th largest place in the province within this census set.

Within Newfoundland and Labrador, Pilley's Island is place number 226 by population in this census set, at 286 residents.

The land area recorded for Pilley's Island is 34.6 square kilometres, and the population is 286 residents in the 2021 Census.

Pilley's Island appears in the census record with 286 residents, and the density of 8.3 people per square kilometre follows from it.

At 286 residents in the 2021 Census, Pilley's Island is listed alongside the other covered places in Newfoundland and Labrador.

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

The density figure for Pilley's Island, 8.3 people per square kilometre, is calculated from the population and land area above.

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

Readers comparing Pilley's Island with another community can use the same four census fields.

Pilley's Island ranks 226 by 2021 Census population among the covered places in Newfoundland and Labrador.

The Pilley's Island page follows the same structure as every other place page, with population, land area, density and rank.

Pilley's Island is one of 322 covered Newfoundland and Labrador places, counted at 286 residents with a land area of 34.6 square kilometres.

Pilley's Island sits at rank 226 within Newfoundland and Labrador in this data set, and the provincial rules apply as they do elsewhere.

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.