Borrowing in Faraday, Ontario

Faraday is one of the Ontario places covered here, with 1,612 residents recorded in the 2021 Census and the same provincial rulebook as the rest of the province.

The census figures for Faraday

In the 2021 Census, Faraday had 1,612 residents. Land area for Faraday is 217.4 square kilometres in the same census.

Population divided by land area produces a density of 7.4 people per square kilometre.

Among covered Ontario places, Faraday sits at rank 318 by population.

Faraday therefore appears at rank 318 of 527 covered Ontario places, with a density of 7.4 people per square kilometre.

Products compared here

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

• Mortgage loans: Borrowing against residential property, including how a federally regulated lender tests the file.
• Debt relief programs: The formal and informal routes out of unmanageable debt in Canada, and who is licensed to run them.

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.

Payday lending is licensed in Ontario; the federal Payday Lending Regulations (SOR/2024-114) publish a cap of $14 per $100 advanced, and notes that a province may set a lower figure.

The lowest band groups villages, rural municipalities and small towns, all read against the same provincial rulebook.

How borrowing works locally

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

Variable-rate products move with a reference rate, while fixed-rate products set the price for a defined term. A lender's assessment looks at income, existing obligations, the credit file, and the asset pledged where there is one.

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

The density figure for Faraday, 7.4 people per square kilometre, is calculated from the population and land area above.

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

Faraday ranks 318 by 2021 Census population among the covered places in Ontario.

The land area recorded for Faraday is 217.4 square kilometres, and the population is 1,612 residents in the 2021 Census.

Faraday appears in the census record with 1,612 residents, and the density of 7.4 people per square kilometre follows from it.

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

Faraday is one of 527 covered Ontario places, counted at 1,612 residents with a land area of 217.4 square kilometres.

Faraday sits at rank 318 within Ontario in this data set, and the provincial rules apply as they do elsewhere.

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

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

At 1,612 residents in the 2021 Census, Faraday is listed alongside the other 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.

Census figures are from Statistics Canada's 2021 Census of Population, and the payday position is taken from the federal Payday Lending Regulations (SOR/2024-114).

Compare the disclosure on any agreement against the provincial ceiling, and treat the census figures as the only local statistics on the page.