Borrowing in Torbay, Newfoundland and Labrador

A loan taken out in Torbay is governed by Newfoundland and Labrador's licensing rules, and the 2021 Census counted 7,852 people in the community.

The census figures for Torbay

Torbay recorded a population of 7,852 in Statistics Canada's 2021 Census of Population. The community covers 34.9 square kilometres of land.

On those two figures, density is 225.1 residents per square kilometre when rounded to one decimal place.

The community is the 10th largest place in the province within this census set.

Torbay is one of 322 places listed for Newfoundland and Labrador, ranked 10 by population and measured at 34.9 square kilometres.

Products compared here

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

• Emergency loans: Money for an urgent expense, and the order in which a sensible borrower works through the options.
• Unsecured loans: Borrowing with no asset pledged, priced for the risk the lender is taking on your file alone.

The Newfoundland and Labrador rules that apply

Licensing for consumer credit in Newfoundland and Labrador sits with the province or territory, and the Financial Consumer Agency of Canada maintains the public list of 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.

Places in the lower-middle band group smaller towns and municipalities under the same provincial framework.

How borrowing works locally

Adding a co-signer puts a second file in front of the lender and adds a second person to the obligation.

A longer amortisation lowers each payment and raises the total interest paid over the life of the loan. A lender may ask for proof of address, and a permanent address is a standard requirement for consumer credit.

The density figure for Torbay, 225.1 people per square kilometre, is calculated from the population and land area above.

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

Torbay sits at rank 10 within Newfoundland and Labrador in this data set, and the provincial rules apply as they do elsewhere.

Torbay is one of 322 covered Newfoundland and Labrador places, counted at 7,852 residents with a land area of 34.9 square kilometres.

The land area recorded for Torbay is 34.9 square kilometres, and the population is 7,852 residents in the 2021 Census.

At 7,852 residents in the 2021 Census, Torbay is listed alongside the other covered places in Newfoundland and Labrador.

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

Torbay ranks 10 by 2021 Census population among the covered places in Newfoundland and Labrador.

Torbay appears in the census record with 7,852 residents, and the density of 225.1 people per square kilometre follows from it.

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

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

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

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

Population and land area figures come from Statistics Canada's 2021 Census of Population; regulatory statements are attributed to the federal Payday Lending Regulations (SOR/2024-114).

The provincial rules apply wherever a borrower is in Newfoundland and Labrador; a municipal boundary does not change them.