Borrowing in Norman Wells, Northwest Territories

A loan taken out in Norman Wells is governed by Northwest Territories's licensing rules, and the 2021 Census counted 673 people in the community.

The census figures for Norman Wells

In the 2021 Census, Norman Wells had 673 residents. The census records a land area of 82.1 square kilometres for Norman Wells.

The arithmetic gives 8.2 people per square kilometre.

By population it ranks 8 among the Northwest Territories places covered here.

Norman Wells therefore appears at rank 8 of 29 covered Northwest Territories places, with a density of 8.2 people per square kilometre.

The Northwest Territories rules that apply

Licensing for consumer credit in Northwest Territories sits with the province or territory, and the Financial Consumer Agency of Canada maintains the public list of provincial and territorial regulators.

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.

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

A secured product gives the lender a claim on a named asset, which is why its price is usually lower than an unsecured equivalent. A payday advance is repaid on a pay date, while an instalment loan is repaid over a set number of payments.

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.

• 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.

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

The density figure for Norman Wells, 8.2 people per square kilometre, is calculated from the population and land area above.

Norman Wells is one of 29 covered Northwest Territories places, counted at 673 residents with a land area of 82.1 square kilometres.

Norman Wells sits at rank 8 within Northwest Territories in this data set, and the provincial rules apply as they do elsewhere.

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

Norman Wells ranks 8 by 2021 Census population among the covered places in Northwest Territories.

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

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

Norman Wells appears in the census record with 673 residents, and the density of 8.2 people per square kilometre follows from it.

At 673 residents in the 2021 Census, Norman Wells is listed alongside the other covered places in Northwest Territories.

Nothing on the Norman Wells 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.

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 provincial rules apply wherever a borrower is in Northwest Territories; a municipal boundary does not change them.