Borrowing in Erin, Ontario

A loan taken out in Erin is governed by Ontario's licensing rules, and the 2021 Census counted 11,981 people in the community.

Products compared here

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

• Debt consolidation loans: Replacing several expensive debts with one payment, and the arithmetic that decides whether it helps.
• Personal loans: A fixed sum repaid on a schedule, usually unsecured, for almost any purpose a lender will accept.

How borrowing works locally

A longer amortisation lowers each payment and raises the total interest paid over the life of the loan.

A shorter term raises each payment and lowers the total interest, which is the trade every schedule makes. A deposit or trade-in reduces the amount financed and therefore the interest charged over the term.

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.

The federal Payday Lending Regulations (SOR/2024-114) list Ontario among the provinces that regulate payday lending, where the federal Payday Lending Regulations (SOR/2024-114) cap the cost of borrowing at $14 per $100 advanced.

This community sits in the lower-middle population band, which changes the census figures rather than the rules.

The census figures for Erin

Erin recorded a population of 11,981 in Statistics Canada's 2021 Census of Population. 298.8 square kilometres of land are attributed to Erin.

Dividing population by land area gives 40.1 residents per square kilometre, rounded to one decimal place.

Erin ranks 130 by population among the Ontario places on this site.

Erin is one of 527 places listed for Ontario, ranked 130 by population and measured at 298.8 square kilometres.

Erin sits at rank 130 within Ontario in this data set, and the provincial rules apply as they do elsewhere.

Erin is one of 527 covered Ontario places, counted at 11,981 residents with a land area of 298.8 square kilometres.

The land area recorded for Erin is 298.8 square kilometres, and the population is 11,981 residents in the 2021 Census.

The density figure for Erin, 40.1 people per square kilometre, is calculated from the population and land area above.

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

At 11,981 residents in the 2021 Census, Erin is listed alongside the other covered places in Ontario.

Erin ranks 130 by 2021 Census population among the covered places in Ontario.

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

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

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

Erin appears in the census record with 11,981 residents, and the density of 40.1 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.

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.

The same structure is used for every place covered, so two communities can be compared field by field: population, land area, density, rank, and the provincial rules.