Statewide—With the U.S. unemployment rate slowly improving but still at 11% due to COVID-19, WalletHub released updated rankings today for the “States Where People Need Loans the Most Due to Coronavirus”. Greater interest in getting a loan indicates that more people in the state are struggling to make ends meet.
In order to determine where people are most in need of loans as a result of the coronavirus pandemic, WalletHub combined internal credit report data with data on Google search increases for three loan-related terms in the 50 states and the District of Columbia. Below, you can see highlights from the report, along with a WalletHub Q&A. Click here for the full report.
Indiana Residents’ Need for Loans Due to COVID-19 (1=Biggest Need; 25=Avg.):
2nd – “Loan” Search Interest Index
11th – “Payday Loans” Search Interest Index
9th – “Home Equity Loan” Search Interest Index
26th – Change in Average Inquiry Count June 24, 2020 vs. January 1, 2020
