Borrowing in Red Lake, Ontario

A loan taken out in Red Lake is governed by Ontario's licensing rules, and the 2021 Census counted 4,094 people in the community.

The Ontario rules that apply

Licensing for consumer credit in Ontario sits with the province or territory, and the Financial Consumer Agency of Canada maintains the public list of provincial and territorial regulators.

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.

Small places are covered the same way as large ones: census figures for the place, and the provincial position on lending.

How borrowing works locally

A provincial regulator publishes licensing requirements, and the Financial Consumer Agency of Canada publishes the list of provincial and territorial regulators.

A mortgage is registered against the property, which is what gives the lender its claim. A lender may ask for proof of address, and a permanent address is a standard requirement for consumer credit.

The census figures for Red Lake

Statistics Canada's 2021 Census gives Red Lake a population of 4,094. 602.9 square kilometres of land are attributed to Red Lake.

The arithmetic gives 6.8 people per square kilometre.

Red Lake ranks 247 by population among the Ontario places on this site.

The place record for Red Lake covers 602.9 square kilometres and 4,094 residents, a density of 6.8 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 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.

Red Lake ranks 247 by 2021 Census population among the covered places in Ontario.

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

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

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

At 4,094 residents in the 2021 Census, Red Lake is listed alongside the other covered places in Ontario.

Red Lake appears in the census record with 4,094 residents, and the density of 6.8 people per square kilometre follows from it.

Red Lake sits at rank 247 within Ontario in this data set, and the provincial rules apply as they do elsewhere.

Red Lake is one of 527 covered Ontario places, counted at 4,094 residents with a land area of 602.9 square kilometres.

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

The density figure for Red Lake, 6.8 people per square kilometre, is calculated from the population and land area above.

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

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.

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