North Carolina is the first state where people look for loans as the coronavirus shakes the U.S. economy, according to a new report.
The state ranks No. 1 on a list of places “where people Need for loans the most due to the COVID-19 pandemic ”, according to personal finance site WalletHub.
To reach its conclusions, WalletHub said it used Google’s credit report and data from all 50 states and Washington, DC, to compare claims from January to May. He also rated the popularity of three loan-related searches in each location this month, according to results released Wednesday.
The State of Tar Heel received the top 10 scores for “loan” and “home equity loan” searches, according to WalletHub.
North Carolina sought information on borrowing in the same month, WalletHub ranked the state as hardest hit for unemployment due to the coronavirus.
Statewide, over a million people applied for unemployment benefits between mid-March and early May, The News & Observer reported.
Some of the restrictions Gov. Roy Cooper put in place in March to help stop the spread of the coronavirus were relaxed in the second phase of his plan to reopen the state. Bars, gymnasiums, cinemas and other businesses are still closed.
Overall, New York, Nebraska, Minnesota and Kansas round out the top five states for loan searches, according to WalletHub. Residents of Vermont were the least interested in seeking this information, according to the results.