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Borrowing in Prince Edward Island

Prince Edward Island licenses consumer credit through its provincial regulator, and the federal Payday Lending Regulations (SOR/2024-114) record a payday cap of $14 per $100 advanced under SOR/2024-114, with a lower provincial cap possible.

Regulator See the FCAC list
Cities with pages 91
Payday lending A licensed payday regime operates here. the federal Payday Lending Regulations (SOR/2024-114) cap the total cost of borrowing at $14 per $100 advanced, and a province may set a lower figure, and the lower figure applies. Confirm the cap currently in force with the provincial regulator.

Prince Edward Island writes its own licensing and cost rules for consumer lending, which is why the terms available in Charlottetown can differ from those offered across a provincial border.

Licensing for lenders in Prince Edward Island

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.

Payday caps and licensing in Prince Edward Island

A payday advance in Prince Edward Island falls under a provincial licensing regime, and the cost of borrowing is capped at $14 per $100 advanced according to the federal Payday Lending Regulations (SOR/2024-114).

The places covered here

91 Prince Edward Island communities have pages here, and the population leader is Charlottetown with 38,809 residents in the 2021 Census.

  • Charlottetown: 38,809 residents; 44.3 square kilometres; density 876.6 people per square kilometre.
  • Summerside: 16,001 residents; 28.2 square kilometres; density 567.2 people per square kilometre.
  • Stratford: 10,927 residents; 22.7 square kilometres; density 482.0 people per square kilometre.
  • Three Rivers: 7,883 residents; 431.5 square kilometres; density 18.3 people per square kilometre.
  • Cornwall: 6,574 residents; 28.2 square kilometres; density 233.0 people per square kilometre.
  • New Glasgow: population 4,277; land area 256.1 square kilometres; density 16.7 people per square kilometre.
  • West River: population 3,473; land area 121.6 square kilometres; density 28.6 people per square kilometre.
  • Kensington, Part 1: population 3,090; land area 155.2 square kilometres; density 19.9 people per square kilometre.
  • O'Leary: population 2,566; land area 375.5 square kilometres; density 6.8 people per square kilometre.
  • North Shore: population 2,500; land area 71.1 square kilometres; density 35.1 people per square kilometre.

Products with Prince Edward Island pages

20 product pages exist for each province, covering personal, secured, mortgage, business, debt and payday borrowing.

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.

Every figure in the Prince Edward Island entry carries a publisher, and no figure is estimated.

For Prince Edward Island, the coverage runs to 91 places, from Charlottetown at 38,809 residents to Cardigan at 125.

Prince Edward Island is described here using census figures for its places and the payday position published by the federal Payday Lending Regulations (SOR/2024-114).

Prince Edward Island is listed in this data set with 91 covered places, from Charlottetown to Cardigan.

A reader comparing Prince Edward Island with a neighbouring province will find the same payday and licensing blocks in the same order.

The Prince Edward Island record names Charlottetown as its capital, and the covered place list starts with Charlottetown at 38,809 residents.

Anyone comparing Prince Edward Island with another province can read the same structure: regulator, payday rule, places and products.

The Prince Edward Island entry records the regulator position, the payday position, the covered places and the products.

Where a figure for Prince Edward Island could not be verified against the publisher, the page names the publisher instead of printing a number.

Population and land area for the places in Prince Edward Island come from Statistics Canada; the payday position comes from the federal Payday Lending Regulations (SOR/2024-114).

For Prince Edward Island, the page records the provincial regulator position, the payday position, 91 covered places and the product list.

Readers can move from the Prince Edward Island page to any covered place page without leaving the same structure.

The Prince Edward Island page belongs to a set that follows one structure for every province and territory.

Prince Edward Island is one of the provinces and territories covered by these pages, and the capital named in the record is Charlottetown.

Prince Edward Island is covered here with the census record for its places and the published financial position.

The Prince Edward Island place list runs from Charlottetown at 38,809 residents to Cardigan at 125, all counted in the 2021 Census.

No figure on the Prince Edward Island page is drawn from advertising; every number carries Statistics Canada or the federal Payday Lending Regulations (SOR/2024-114) its source.

Prince Edward Island is one of the jurisdictions covered here, and the page uses the same four blocks as every other: regulation, payday rules, places and products.

The Prince Edward Island coverage includes the capital, Charlottetown, among the places counted by the 2021 Census.

The capital recorded for Prince Edward Island is Charlottetown, and the largest covered place is Charlottetown at 38,809 residents.

Nothing on the Prince Edward Island page is estimated; the place figures come from Statistics Canada and the payday position from the federal Payday Lending Regulations (SOR/2024-114).

Coverage for Prince Edward Island is drawn from the 2021 Census of Population and from the federal Payday Lending Regulations (SOR/2024-114).

What loanmoose.ca does

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 on this page come from Statistics Canada's 2021 Census of Population, and regulatory statements are attributed to the body that publishes them.

20 products in Prince Edward Island

Personal loans A fixed sum repaid on a schedule, usually unsecured, for almost any purpose a lender will accept. Bad credit loans Borrowing when the credit file is damaged, and what changes about price and security as a result. No credit check loans What lenders who advertise without a credit check actually look at instead, and where the cost goes. Lines of credit A revolving limit you draw on and repay, usually paying interest only on what is outstanding. Unsecured loans Borrowing with no asset pledged, priced for the risk the lender is taking on your file alone. Secured loans Borrowing against an asset, which lowers the price but puts the asset at risk if you default. Car loans Financing a vehicle, including the effect of trade-in equity, negative equity and dealer-arranged credit. Mortgage loans Borrowing against residential property, including how a federally regulated lender tests the file. Home equity loans Converting property equity into credit, and the difference between a lump sum and a revolving limit. Mortgage refinancing Replacing an existing mortgage to change the rate, the term or the amount borrowed, and what it costs. Home renovation loans Paying for work on a property, from a small unsecured instalment loan to a secured renovation product. Business loans Commercial borrowing, what lenders read in a business file, and how the assessment differs from personal credit. Business lines of credit A revolving operating limit for a business, and why it behaves differently from a term loan. Debt consolidation loans Replacing several expensive debts with one payment, and the arithmetic that decides whether it helps. Debt relief programs The formal and informal routes out of unmanageable debt in Canada, and who is licensed to run them. Payday loans Small, short-term advances against a pay date, the most tightly regulated product in Canadian consumer credit. Cash advance loans Immediate short-term cash, including the difference between a cash advance on credit and a payday-style advance. Emergency loans Money for an urgent expense, and the order in which a sensible borrower works through the options. Instalment loans A fixed number of fixed payments, sized larger and longer than a payday advance. Collateral loans Borrowing against an asset a lender will hold, from vehicles to savings, and what happens on default.

Cities in Prince Edward Island

Charlottetown 38,809 · 2021 Census Summerside 16,001 · 2021 Census Stratford 10,927 · 2021 Census Three Rivers 7,883 · 2021 Census Cornwall 6,574 · 2021 Census New Glasgow 4,277 · 2021 Census West River 3,473 · 2021 Census Kensington, Part 1 3,090 · 2021 Census O'Leary 2,566 · 2021 Census North Shore 2,500 · 2021 Census Vernon River 2,499 · 2021 Census East River, Part 1 2,307 · 2021 Census

All 91 cities in Prince Edward Island

Population and land area: Statistics Canada, Census of Population 2021, table 98-10-0002.

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