Borrowing in Resolute, Nunavut

This page covers borrowing in Resolute, Nunavut: the census facts, the provincial rules, and the products people compare.

The Nunavut rules that apply

Consumer credit in Nunavut is licensed by the provincial or territorial regulator, and the Financial Consumer Agency of Canada publishes the list of provincial and territorial regulators.

The federal Payday Lending Regulations (SOR/2024-114) note that the territories do not have specific payday lending rules, which leaves Nunavut without a published territorial cap.

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

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.

An application usually asks for identification, income evidence, banking details and a statement of obligations. Disclosure requirements mean the cost of borrowing must be stated before an agreement is signed.

The census figures for Resolute

The 2021 Census counted 183 residents in Resolute. The community covers 115.0 square kilometres of land.

Population divided by land area produces a density of 1.6 people per square kilometre.

By population it ranks 24 among the Nunavut places covered here.

Resolute sits at rank 24 among the 25 Nunavut places here, with 183 residents in the 2021 Census.

Products compared here

Two of the 20 covered products appear below, each with the purpose the product is designed for.

• Cash advance loans: Immediate short-term cash, including the difference between a cash advance on credit and a payday-style advance.
• Lines of credit: A revolving limit you draw on and repay, usually paying interest only on what is outstanding.

Resolute is one of 25 covered Nunavut places, counted at 183 residents with a land area of 115.0 square kilometres.

The land area recorded for Resolute is 115.0 square kilometres, and the population is 183 residents in the 2021 Census.

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

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

At 183 residents in the 2021 Census, Resolute is listed alongside the other covered places in Nunavut.

Resolute ranks 24 by 2021 Census population among the covered places in Nunavut.

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

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

Resolute sits at rank 24 within Nunavut in this data set, and the provincial rules apply as they do elsewhere.

The density figure for Resolute, 1.6 people per square kilometre, is calculated from the population and land area above.

Resolute appears in the census record with 183 residents, and the density of 1.6 people per square kilometre follows from it.

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

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 Nunavut; a municipal boundary does not change them.