Borrowing in Stornoway, Quebec

Stornoway is one of the Quebec communities covered here, with a 2021 Census population of 535, and borrowing there is licensed under Quebec's consumer credit rules.

The Quebec rules that apply

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

For Quebec, the federal Payday Lending Regulations (SOR/2024-114) record that payday lending is not licensed, so the cost limit should be confirmed with the provincial regulator.

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

How borrowing works locally

Debt management plans are administered by accredited credit counsellors, and they are not loans.

A payday advance is repaid on a pay date, while an instalment loan is repaid over a set number of payments. Disclosure requirements mean the cost of borrowing must be stated before an agreement is signed.

The census figures for Stornoway

In the 2021 Census, Stornoway had 535 residents. The census records a land area of 180.2 square kilometres for Stornoway.

Population divided by land area produces a density of 3.0 people per square kilometre.

Its provincial population rank is 902 within this data set.

Compared with the other 1150 covered Quebec places, Stornoway ranks 902 by population.

Products compared here

The site describes 20 products in total; the two below are representative of the range.

• Unsecured loans: Borrowing with no asset pledged, priced for the risk the lender is taking on your file alone.
• Business loans: Commercial borrowing, what lenders read in a business file, and how the assessment differs from personal credit.

Stornoway sits at rank 902 within Quebec in this data set, and the provincial rules apply as they do elsewhere.

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

The land area recorded for Stornoway is 180.2 square kilometres, and the population is 535 residents in the 2021 Census.

Stornoway is one of 1150 covered Quebec places, counted at 535 residents with a land area of 180.2 square kilometres.

Stornoway appears in the census record with 535 residents, and the density of 3.0 people per square kilometre follows from it.

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

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

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

Stornoway ranks 902 by 2021 Census population among the covered places in Quebec.

At 535 residents in the 2021 Census, Stornoway is listed alongside the other covered places in Quebec.

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.

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