Borrowing in Schefferville, Quebec

Schefferville, Quebec, recorded a population of 244 in the 2021 Census; the rules that govern a loan signed there are provincial.

The Quebec rules that apply

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

Because Quebec does not license payday lending, no provincial payday cap applies there, and the federal Payday Lending Regulations (SOR/2024-114) note the distinction.

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

How borrowing works locally

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

Interest on a line of credit accrues only on the drawn portion, not on the unused limit. A revolving product charges interest on the outstanding balance, while an instalment product charges a fixed schedule of payments.

The census figures for Schefferville

In the 2021 Census, Schefferville had 244 residents. Land area for Schefferville is 24.8 square kilometres in the same census.

On those two figures, density is 9.9 residents per square kilometre when rounded to one decimal place.

Among covered Quebec places, Schefferville sits at rank 1094 by population.

The place record for Schefferville covers 24.8 square kilometres and 244 residents, a density of 9.9 people per square kilometre.

Products compared here

The product pages behind this city cover the following borrowing categories, among the 20 products compared nationally.

• 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.

At 244 residents in the 2021 Census, Schefferville is listed alongside the other covered places in Quebec.

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

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

Schefferville ranks 1094 by 2021 Census population among the covered places in Quebec.

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

Schefferville sits at rank 1094 within Quebec in this data set, and the provincial rules apply as they do elsewhere.

Schefferville appears in the census record with 244 residents, and the density of 9.9 people per square kilometre follows from it.

The land area recorded for Schefferville is 24.8 square kilometres, and the population is 244 residents in the 2021 Census.

Schefferville is one of 1150 covered Quebec places, counted at 244 residents with a land area of 24.8 square kilometres.

The density figure for Schefferville, 9.9 people per square kilometre, is calculated from the population and land area above.

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

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