Borrowing in Cochrane, Ontario

Cochrane is one of the Ontario communities covered here, with a 2021 Census population of 5,390, and borrowing there is licensed under Ontario's consumer credit rules.

The Ontario rules that apply

Licensing for consumer credit in Ontario sits with the province or territory, and the Financial Consumer Agency of Canada maintains the public 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.

Municipalities of this size are grouped together here, with the province setting the licensing position for all of them.

The census figures for Cochrane

Cochrane recorded a population of 5,390 in Statistics Canada's 2021 Census of Population. The census records a land area of 537.9 square kilometres for Cochrane.

Population divided by land area produces a density of 10.0 people per square kilometre.

The community is the 224th largest place in the province within this census set.

Compared with the other 527 covered Ontario places, Cochrane ranks 224 by population.

Products compared here

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

• No credit check loans: What lenders who advertise without a credit check actually look at instead, and where the cost goes.
• Mortgage refinancing: Replacing an existing mortgage to change the rate, the term or the amount borrowed, and what it costs.

How borrowing works locally

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.

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

The land area recorded for Cochrane is 537.9 square kilometres, and the population is 5,390 residents in the 2021 Census.

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

The density figure for Cochrane, 10.0 people per square kilometre, is calculated from the population and land area above.

Cochrane appears in the census record with 5,390 residents, and the density of 10.0 people per square kilometre follows from it.

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

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

Cochrane sits at rank 224 within Ontario in this data set, and the provincial rules apply as they do elsewhere.

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

Cochrane is one of 527 covered Ontario places, counted at 5,390 residents with a land area of 537.9 square kilometres.

Cochrane ranks 224 by 2021 Census population among the covered places in Ontario.

loanmoose.ca is not a lender and does not make credit decisions. The lowest rates are only available to the most qualified applicants.

The 2021 Census of Population published by Statistics Canada is the source for population and land area; the federal Payday Lending Regulations (SOR/2024-114) are the source for payday rules.

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