Borrowing in Coleman, Ontario

Coleman is one of the Ontario communities covered here, with a 2021 Census population of 517, and borrowing there is licensed under Ontario's consumer credit rules.

The Ontario rules that apply

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

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.

At the small end of the census range, the community still borrows inside the province's licensing system.

How borrowing works locally

Provincial licensing decides who may lend, and federal rules add a ceiling where a licensed payday regime exists.

Payment history is reported to credit agencies, and that record is what builds or damages a credit file over time. An application usually asks for identification, income evidence, banking details and a statement of obligations.

The census figures for Coleman

517 people were counted in Coleman in the 2021 Census. Statistics Canada lists 177.9 square kilometres of land for the community.

That gives a density of 2.9 people per square kilometre, rounded to one decimal place.

By population it ranks 427 among the Ontario places covered here.

Coleman therefore appears at rank 427 of 527 covered Ontario places, with a density of 2.9 people per square kilometre.

Products compared here

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

• Mortgage refinancing: Replacing an existing mortgage to change the rate, the term or the amount borrowed, and what it costs.
• Cash advance loans: Immediate short-term cash, including the difference between a cash advance on credit and a payday-style advance.

At 517 residents in the 2021 Census, Coleman is listed alongside the other covered places in Ontario.

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

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

The land area recorded for Coleman is 177.9 square kilometres, and the population is 517 residents in the 2021 Census.

The density figure for Coleman, 2.9 people per square kilometre, is calculated from the population and land area above.

Coleman is one of 527 covered Ontario places, counted at 517 residents with a land area of 177.9 square kilometres.

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

Coleman ranks 427 by 2021 Census population among the covered places in Ontario.

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

Coleman sits at rank 427 within Ontario in this data set, and the provincial rules apply as they do elsewhere.

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

Coleman appears in the census record with 517 residents, and the density of 2.9 people per square kilometre follows from it.

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.

Lending rules change, and the Financial Consumer Agency of Canada publishes the list of provincial and territorial regulators where the current position is confirmed.