Borrowing in Colville Lake, Northwest Territories

With 110 residents counted in the 2021 Census, Colville Lake sits inside Northwest Territories's provincial lending framework.

The Northwest Territories rules that apply

Consumer lending in Northwest Territories 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.

No territorial payday cap is published for Northwest Territories; the federal Payday Lending Regulations (SOR/2024-114) confirm that the territories have no specific payday lending rules, and the limit should be confirmed with the regulator.

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

The census figures for Colville Lake

Population for Colville Lake stands at 110 in the 2021 Census. The census records a land area of 126.1 square kilometres for Colville Lake.

Population divided by land area produces a density of 0.9 people per square kilometre.

Colville Lake ranks 27 by population among the Northwest Territories places on this site.

The place record for Colville Lake covers 126.1 square kilometres and 110 residents, a density of 0.9 people per square kilometre.

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 mortgage is registered against the property, which is what gives the lender its claim.

A lender is free to set its own price below the legal ceiling, and it does so according to the risk it reads in the file. Adding a co-signer puts a second file in front of the lender and adds a second person to the obligation.

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

Colville Lake appears in the census record with 110 residents, and the density of 0.9 people per square kilometre follows from it.

Colville Lake is one of 29 covered Northwest Territories places, counted at 110 residents with a land area of 126.1 square kilometres.

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

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

Colville Lake sits at rank 27 within Northwest Territories in this data set, and the provincial rules apply as they do elsewhere.

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

The land area recorded for Colville Lake is 126.1 square kilometres, and the population is 110 residents in the 2021 Census.

Colville Lake ranks 27 by 2021 Census population among the covered places in Northwest Territories.

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

At 110 residents in the 2021 Census, Colville Lake is listed alongside the other covered places in Northwest Territories.

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).

Lending rules change, and the Financial Consumer Agency of Canada publishes the list of provincial and territorial regulators where the current position is confirmed.