Borrowing in Salvage, Newfoundland and Labrador

With 108 residents counted in the 2021 Census, Salvage sits inside Newfoundland and Labrador's provincial lending framework.

How borrowing works locally

A revolving product charges interest on the outstanding balance, while an instalment product charges a fixed schedule of payments.

Provincial licensing decides who may lend, and federal rules add a ceiling where a licensed payday regime exists. A broker arranges credit but does not lend, and the lender remains the party that makes the decision.

Products compared here

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

• Home renovation loans: Paying for work on a property, from a small unsecured instalment loan to a secured renovation product.
• Emergency loans: Money for an urgent expense, and the order in which a sensible borrower works through the options.

The census figures for Salvage

Salvage recorded a population of 108 in Statistics Canada's 2021 Census of Population. Statistics Canada lists 15.8 square kilometres of land for the community.

The arithmetic gives 6.8 people per square kilometre.

By population it ranks 315 among the Newfoundland and Labrador places covered here.

Salvage sits at rank 315 among the 322 Newfoundland and Labrador places here, with 108 residents in the 2021 Census.

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.

In Newfoundland and Labrador, payday lending operates under a licensed provincial regime, and the federal Payday Lending Regulations (SOR/2024-114) record a maximum cost of borrowing of $14 for each $100 advanced under SOR/2024-114.

Small places are covered the same way as large ones: census figures for the place, and the provincial position on lending.

Salvage ranks 315 by 2021 Census population among the covered places in Newfoundland and Labrador.

Salvage is one of 322 covered Newfoundland and Labrador places, counted at 108 residents with a land area of 15.8 square kilometres.

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

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

Salvage sits at rank 315 within Newfoundland and Labrador in this data set, and the provincial rules apply as they do elsewhere.

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

The density figure for Salvage, 6.8 people per square kilometre, is calculated from the population and land area above.

The land area recorded for Salvage is 15.8 square kilometres, and the population is 108 residents in the 2021 Census.

Salvage appears in the census record with 108 residents, and the density of 6.8 people per square kilometre follows from it.

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

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

At 108 residents in the 2021 Census, Salvage is listed alongside the other covered places in Newfoundland and Labrador.

loanmoose.ca is not a lender and does not make credit decisions. The lowest rates are only available to the most qualified applicants.

Statistics Canada's 2021 Census of Population supplies the population and land-area figures, and the federal Payday Lending Regulations (SOR/2024-114) supply the payday position.

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.