Borrowing in Cobalt, Ontario

Cobalt, Ontario, recorded a population of 989 in the 2021 Census; the rules that govern a loan signed there are provincial.

How borrowing works locally

A credit file is compiled by private agencies from information lenders and other creditors report.

A consumer proposal or a bankruptcy is administered by a licensed insolvency trustee rather than by a lender. A broker arranges credit but does not lend, and the lender remains the party that makes the decision.

Products compared here

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

• Instalment loans: A fixed number of fixed payments, sized larger and longer than a payday advance.
• Secured loans: Borrowing against an asset, which lowers the price but puts the asset at risk if you default.

The census figures for Cobalt

989 people were counted in Cobalt in the 2021 Census. Statistics Canada lists 2.1 square kilometres of land for the community.

Dividing population by land area gives 477.8 residents per square kilometre, rounded to one decimal place.

Its provincial population rank is 358 within this data set.

The place record for Cobalt covers 2.1 square kilometres and 989 residents, a density of 477.8 people per square kilometre.

The Ontario rules that apply

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

In Ontario, payday lending operates under a licensed provincial regime, and the federal Payday Lending Regulations (SOR/2024-114) record a maximum cost of borrowing of $14 for each $100 advanced under SOR/2024-114.

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

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

Cobalt ranks 358 by 2021 Census population among the covered places in Ontario.

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

At 989 residents in the 2021 Census, Cobalt is listed alongside the other covered places in Ontario.

The land area recorded for Cobalt is 2.1 square kilometres, and the population is 989 residents in the 2021 Census.

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

Cobalt sits at rank 358 within Ontario in this data set, and the provincial rules apply as they do elsewhere.

Cobalt is one of 527 covered Ontario places, counted at 989 residents with a land area of 2.1 square kilometres.

Cobalt appears in the census record with 989 residents, and the density of 477.8 people per square kilometre follows from it.

The density figure for Cobalt, 477.8 people per square kilometre, is calculated from the population and land area above.

Readers comparing Cobalt 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.

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