Borrowing in Wabigoon Lake 27, Ontario

Wabigoon Lake 27 is one of the Ontario communities covered here, with a 2021 Census population of 175, and borrowing there is licensed under Ontario's consumer credit rules.

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) count Ontario among the provinces with payday lending rules, where the published maximum cost of borrowing is $14 per $100 advanced under SOR/2024-114.

This is a small community by population, inside the lowest band used on this site, and the provincial framework applies without variation.

How borrowing works locally

Variable-rate products move with a reference rate, while fixed-rate products set the price for a defined term.

A revolving product charges interest on the outstanding balance, while an instalment product charges a fixed schedule of payments. A longer amortisation lowers each payment and raises the total interest paid over the life of the loan.

The census figures for Wabigoon Lake 27

Population for Wabigoon Lake 27 stands at 175 in the 2021 Census. Land area for Wabigoon Lake 27 is 42.7 square kilometres in the same census.

That gives a density of 4.1 people per square kilometre, rounded to one decimal place.

The community is the 499th largest place in the province within this census set.

Compared with the other 527 covered Ontario places, Wabigoon Lake 27 ranks 499 by population.

Products compared here

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

• Instalment loans: A fixed number of fixed payments, sized larger and longer than a payday advance.
• Secured loans: Borrowing against an asset, which lowers the price but puts the asset at risk if you default.

Wabigoon Lake 27 appears in the census record with 175 residents, and the density of 4.1 people per square kilometre follows from it.

The Wabigoon Lake 27 page follows the same structure as every other place page, with population, land area, density and rank.

Wabigoon Lake 27 is one of 527 covered Ontario places, counted at 175 residents with a land area of 42.7 square kilometres.

Wabigoon Lake 27 ranks 499 by 2021 Census population among the covered places in Ontario.

Nothing on the Wabigoon Lake 27 page is estimated; the population and land area come from Statistics Canada's 2021 Census of Population.

The density figure for Wabigoon Lake 27, 4.1 people per square kilometre, is calculated from the population and land area above.

Readers comparing Wabigoon Lake 27 with another community can use the same four census fields.

For Wabigoon Lake 27, the two census fields above are the only local statistics used anywhere on the page.

Wabigoon Lake 27 sits at rank 499 within Ontario in this data set, and the provincial rules apply as they do elsewhere.

Where a figure for Wabigoon Lake 27 could not be verified, the page names the publisher instead of printing a number.

At 175 residents in the 2021 Census, Wabigoon Lake 27 is listed alongside the other covered places in Ontario.

The land area recorded for Wabigoon Lake 27 is 42.7 square kilometres, and the population is 175 residents in the 2021 Census.

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 provincial rules apply wherever a borrower is in Ontario; a municipal boundary does not change them.