Borrowing in Morell, Prince Edward Island

A loan taken out in Morell is governed by Prince Edward Island's licensing rules, and the 2021 Census counted 269 people in the community.

The Prince Edward Island rules that apply

The regulator for consumer credit in Prince Edward Island is the body listed by the federal Payday Lending Regulations (SOR/2024-114) provincial and territorial regulators.

In Prince Edward Island, payday lending operates under a licensed provincial regime, and the federal Payday Lending Regulations (SOR/2024-114) record a maximum cost of borrowing of $14 for each $100 advanced under SOR/2024-114.

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

How borrowing works locally

A revolving product charges interest on the outstanding balance, while an instalment product charges a fixed schedule of payments.

Disclosure requirements mean the cost of borrowing must be stated before an agreement is signed. A credit file is compiled by private agencies from information lenders and other creditors report.

The census figures for Morell

Morell recorded a population of 269 in Statistics Canada's 2021 Census of Population. Its land area is 1.5 square kilometres.

On those two figures, density is 180.5 residents per square kilometre when rounded to one decimal place.

Among covered Prince Edward Island places, Morell sits at rank 71 by population.

Morell therefore appears at rank 71 of 91 covered Prince Edward Island places, with a density of 180.5 people per square kilometre.

Products compared here

Each product below has its own page, and the Prince Edward Island position applies to all of them.

• Secured loans: Borrowing against an asset, which lowers the price but puts the asset at risk if you default.
• Business lines of credit: A revolving operating limit for a business, and why it behaves differently from a term loan.

The land area recorded for Morell is 1.5 square kilometres, and the population is 269 residents in the 2021 Census.

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

Morell ranks 71 by 2021 Census population among the covered places in Prince Edward Island.

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

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

Morell is one of 91 covered Prince Edward Island places, counted at 269 residents with a land area of 1.5 square kilometres.

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

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

At 269 residents in the 2021 Census, Morell is listed alongside the other covered places in Prince Edward Island.

The density figure for Morell, 180.5 people per square kilometre, is calculated from the population and land area above.

Morell sits at rank 71 within Prince Edward Island in this data set, and the provincial rules apply as they do elsewhere.

Morell appears in the census record with 269 residents, and the density of 180.5 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.

Population and land area figures come from Statistics Canada's 2021 Census of Population; regulatory statements are attributed to the federal Payday Lending Regulations (SOR/2024-114).

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.