Study: South Carolina Has the 9th Highest Need for Loans Due to the Coronavirus

WalletHub today released its study on the "States Where People Need Loans the Most Due to Coronavirus," and South Carolina ranked as having the 9th highest need for loans.

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.

South Carolina Residents’ Need for Loans Due to COVID-19 (1=Biggest Need; 25=Avg.):

  • 19th – “Loan” Search Interest Index
  • 14th – “Payday Loans” Search Interest Index
  • 11th – “Home Equity Loan” Search Interest Index
  • 20th – Change in Average Inquiry Count August 27, 2020 vs. January 1, 2020

To view the full report, click here.

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