Secured loans in New Brunswick

This page explains how secured loan work for a resident of New Brunswick, what the provincial rules add, and how the product is assessed.

The New Brunswick version of the secured loan page exists because provincial rules apply to the contract wherever the lender is based.

What this product does

Secured loans: Borrowing against an asset, which lowers the price but puts the asset at risk if you default.

A secured loan gives the lender a claim on a named asset, which can lower the price and puts that asset at risk if payments stop.

The asset is the lender's fallback, so the price is usually lower than for an unsecured equivalent.

Insurance on the asset is commonly required while the security is in place.

The New Brunswick rules that apply

Payday lending is licensed in New Brunswick; the federal Payday Lending Regulations (SOR/2024-114) publish a cap of $14 per $100 advanced, and notes that a province may set a lower figure.

Consumer lending in New Brunswick is licensed provincially or territorially, and the Financial Consumer Agency of Canada publishes the list of provincial and territorial regulators where the current position appears.

The census figures for Wellington, one of the 256 covered New Brunswick places, give 3,292 residents.

The 2021 Census figures for the largest covered New Brunswick place, Moncton, give 79,470 residents; 256 places have pages on this site. That provincial position is read alongside the product terms for a secured loan.

How a decision is reached

Where the credit file is thin, a lender considering a secured loan may look at banking conduct as well.

For a secured loan, New Brunswick lenders compare the payment against income and against the obligations already on file.

The purpose of the borrowing is recorded, though it rarely changes the price of a secured loan.

Related products

These related products carry their own New Brunswick pages.

• Payday loans: Small, short-term advances against a pay date, the most tightly regulated product in Canadian consumer credit.
• Collateral loans: Borrowing against an asset a lender will hold, from vehicles to savings, and what happens on default.
• Lines of credit: A revolving limit you draw on and repay, usually paying interest only on what is outstanding.

Wellington, at 3,292 residents in the 2021 Census, is one of the 256 covered New Brunswick places where a secured loan could be arranged.

The provincial figures for New Brunswick apply to a secured loan wherever the borrower lives, from Moncton outward.

The record for a secured loan in New Brunswick carries the provincial position and the product description together.

Nothing on the New Brunswick secured loan page is estimated; the payday position comes from the federal Payday Lending Regulations (SOR/2024-114).

Anyone reading about a secured loan in New Brunswick can compare the same product page for every other province.

Where a figure for New Brunswick could not be verified, the page names the publisher rather than printing a number.

For New Brunswick, the payday position and the product terms for a secured loan come from separate published sources.

Wellington is one of the 256 New Brunswick places on the site, and a secured loan there follows the same provincial rules.

A secured loan in New Brunswick is described here with the same structure used for every other product page.

The New Brunswick pages place a secured loan alongside 256 covered communities, including Wellington at 3,292 residents.

For a secured loan in New Brunswick, the surrounding places range from Moncton at 79,470 residents to smaller communities across the province.

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.

Where a figure could not be checked against the publisher, this page names the publisher rather than printing a number.