Borrowing in Red Bay, Newfoundland and Labrador

A loan taken out in Red Bay is governed by Newfoundland and Labrador's licensing rules, and the 2021 Census counted 142 people in the community.

The census figures for Red Bay

Population for Red Bay stands at 142 in the 2021 Census. The census records a land area of 2.3 square kilometres for Red Bay.

Dividing population by land area gives 61.5 residents per square kilometre, rounded to one decimal place.

The community is the 299th largest place in the province within this census set.

Red Bay therefore appears at rank 299 of 322 covered Newfoundland and Labrador places, with a density of 61.5 people per square kilometre.

Products compared here

The product pages behind this city cover the following borrowing categories, among the 20 products compared nationally.

• No credit check loans: What lenders who advertise without a credit check actually look at instead, and where the cost goes.
• Mortgage refinancing: Replacing an existing mortgage to change the rate, the term or the amount borrowed, and what it costs.

The Newfoundland and Labrador rules that apply

Consumer lending in Newfoundland and Labrador is licensed provincially or territorially, and the Financial Consumer Agency of Canada publishes the list of provincial and territorial regulators where the current position appears.

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.

Places in the smallest population band are grouped here as small communities, and the pages carry the same census fields and the same provincial rules as the largest city.

How borrowing works locally

A deposit or trade-in reduces the amount financed and therefore the interest charged over the term.

A credit file is compiled by private agencies from information lenders and other creditors report. A secured product gives the lender a claim on a named asset, which is why its price is usually lower than an unsecured equivalent.

Red Bay appears in the census record with 142 residents, and the density of 61.5 people per square kilometre follows from it.

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

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

The density figure for Red Bay, 61.5 people per square kilometre, is calculated from the population and land area above.

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

Red Bay ranks 299 by 2021 Census population among the covered places in Newfoundland and Labrador.

At 142 residents in the 2021 Census, Red Bay is listed alongside the other covered places in Newfoundland and Labrador.

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

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

Red Bay sits at rank 299 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.

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.