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Borrowing in Taloyoak, Nunavut

How borrowing works in Taloyoak, Nunavut, where the 2021 Census counted 934 residents.

Province Nunavut (NU)
Population, 2021 Census 934
Land area 35.4 km²
Provincial regulator See the FCAC list

Taloyoak is one of the Nunavut places covered here, with 934 residents recorded in the 2021 Census and the same provincial rulebook as the rest of the province.

The Nunavut rules that apply

Provincial or territorial law decides who may lend in Nunavut, and the Financial Consumer Agency of Canada publishes the list that names the regulator responsible.

No territorial payday cap is published for Nunavut; 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.

The lowest band groups villages, rural municipalities and small towns, all read against the same provincial rulebook.

How borrowing works locally

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

Interest on a line of credit accrues only on the drawn portion, not on the unused limit. A mortgage is registered against the property, which is what gives the lender its claim.

The census figures for Taloyoak

In the 2021 Census, Taloyoak had 934 residents. Statistics Canada lists 35.4 square kilometres of land for the community.

On those two figures, density is 26.4 residents per square kilometre when rounded to one decimal place.

The 2021 Census population places it at rank 18 in the province.

Within Nunavut, Taloyoak is place number 18 by population in this census set, at 934 residents.

Products compared here

The site describes 20 products in total; the two below are representative of the range.

  • 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.

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

At 934 residents in the 2021 Census, Taloyoak is listed alongside the other covered places in Nunavut.

Taloyoak is one of 25 covered Nunavut places, counted at 934 residents with a land area of 35.4 square kilometres.

Taloyoak appears in the census record with 934 residents, and the density of 26.4 people per square kilometre follows from it.

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

The density figure for Taloyoak, 26.4 people per square kilometre, is calculated from the population and land area above.

The land area recorded for Taloyoak is 35.4 square kilometres, and the population is 934 residents in the 2021 Census.

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

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

Taloyoak sits at rank 18 within Nunavut in this data set, and the provincial rules apply as they do elsewhere.

Taloyoak ranks 18 by 2021 Census population among the covered places in Nunavut.

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).

Nothing here is an offer, and no page on this site can tell anyone what a lender will decide.

Population and land area: Statistics Canada, Census of Population 2021, table 98-10-0002.

Borrowing in Taloyoak

Personal loans A fixed sum repaid on a schedule, usually unsecured, for almost any purpose a lender will accept. Bad credit loans Borrowing when the credit file is damaged, and what changes about price and security as a result. No credit check loans What lenders who advertise without a credit check actually look at instead, and where the cost goes. Lines of credit A revolving limit you draw on and repay, usually paying interest only on what is outstanding. Unsecured loans Borrowing with no asset pledged, priced for the risk the lender is taking on your file alone. Secured loans Borrowing against an asset, which lowers the price but puts the asset at risk if you default. Car loans Financing a vehicle, including the effect of trade-in equity, negative equity and dealer-arranged credit. Mortgage loans Borrowing against residential property, including how a federally regulated lender tests the file. Home equity loans Converting property equity into credit, and the difference between a lump sum and a revolving limit. Mortgage refinancing Replacing an existing mortgage to change the rate, the term or the amount borrowed, and what it costs. Home renovation loans Paying for work on a property, from a small unsecured instalment loan to a secured renovation product. Business loans Commercial borrowing, what lenders read in a business file, and how the assessment differs from personal credit. Business lines of credit A revolving operating limit for a business, and why it behaves differently from a term loan. Debt consolidation loans Replacing several expensive debts with one payment, and the arithmetic that decides whether it helps. Debt relief programs The formal and informal routes out of unmanageable debt in Canada, and who is licensed to run them. Payday loans Small, short-term advances against a pay date, the most tightly regulated product in Canadian consumer credit. Cash advance loans Immediate short-term cash, including the difference between a cash advance on credit and a payday-style advance. Emergency loans Money for an urgent expense, and the order in which a sensible borrower works through the options. Instalment loans A fixed number of fixed payments, sized larger and longer than a payday advance. Collateral loans Borrowing against an asset a lender will hold, from vehicles to savings, and what happens on default.

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