Borrowing in Elliot Lake, Ontario

Elliot Lake, Ontario, recorded a population of 11,372 in the 2021 Census; the rules that govern a loan signed there are provincial.

The census figures for Elliot Lake

Elliot Lake recorded a population of 11,372 in Statistics Canada's 2021 Census of Population. Its land area is 696.1 square kilometres.

Dividing population by land area gives 16.3 residents per square kilometre, rounded to one decimal place.

Elliot Lake ranks 133 by population among the Ontario places on this site.

Elliot Lake therefore appears at rank 133 of 527 covered Ontario places, with a density of 16.3 people per square kilometre.

The Ontario rules that apply

Consumer lending in Ontario is licensed provincially or territorially, and the Financial Consumer Agency of Canada publishes the list of provincial and territorial regulators where the current position appears.

The federal payday lending regulations, SOR/2024-114, cap the cost of borrowing at $14 per $100 advanced in Ontario, which the federal Payday Lending Regulations (SOR/2024-114) list as a province that regulates the product.

The lower-middle band covers towns of moderate size, none of which sets its own lending rules.

How borrowing works locally

A deposit or trade-in reduces the amount financed and therefore the interest charged over the term.

A broker arranges credit but does not lend, and the lender remains the party that makes the decision. A prepayment privilege allows a borrower to pay more than the scheduled amount, sometimes with a charge attached.

Products compared here

Each product below has its own page, and the Ontario position applies to all of them.

• 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.

Elliot Lake appears in the census record with 11,372 residents, and the density of 16.3 people per square kilometre follows from it.

Elliot Lake sits at rank 133 within Ontario in this data set, and the provincial rules apply as they do elsewhere.

At 11,372 residents in the 2021 Census, Elliot Lake is listed alongside the other covered places in Ontario.

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

The density figure for Elliot Lake, 16.3 people per square kilometre, is calculated from the population and land area above.

The land area recorded for Elliot Lake is 696.1 square kilometres, and the population is 11,372 residents in the 2021 Census.

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

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

Elliot Lake is one of 527 covered Ontario places, counted at 11,372 residents with a land area of 696.1 square kilometres.

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

Elliot Lake ranks 133 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.

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