Borrowing in Madoc, Ontario

Madoc, Ontario, recorded a population of 2,233 in the 2021 Census; the rules that govern a loan signed there are provincial.

How borrowing works locally

A lender may ask for proof of address, and a permanent address is a standard requirement for consumer credit.

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

Products compared here

Among the 20 products compared here, these two are commonly used for the purposes described.

• Lines of credit: A revolving limit you draw on and repay, usually paying interest only on what is outstanding.
• Home renovation loans: Paying for work on a property, from a small unsecured instalment loan to a secured renovation product.

The census figures for Madoc

Population for Madoc stands at 2,233 in the 2021 Census. The census records a land area of 274.6 square kilometres for Madoc.

On those two figures, density is 8.1 residents per square kilometre when rounded to one decimal place.

Among covered Ontario places, Madoc sits at rank 304 by population.

Compared with the other 527 covered Ontario places, Madoc ranks 304 by population.

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.

Communities of this size are listed here with population, land area and density, and the lending rules remain provincial.

At 2,233 residents in the 2021 Census, Madoc is listed alongside the other covered places in Ontario.

Madoc appears in the census record with 2,233 residents, and the density of 8.1 people per square kilometre follows from it.

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

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

Madoc is one of 527 covered Ontario places, counted at 2,233 residents with a land area of 274.6 square kilometres.

The land area recorded for Madoc is 274.6 square kilometres, and the population is 2,233 residents in the 2021 Census.

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

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

Madoc ranks 304 by 2021 Census population among the covered places in Ontario.

The density figure for Madoc, 8.1 people per square kilometre, is calculated from the population and land area above.

Madoc sits at rank 304 within Ontario in this data set, and the provincial rules apply as they do elsewhere.

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

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.