RICHMOND, Va. (WJHL) – The COVID-19 pandemic has had a significant impact on the United States economy, and a recent study found that Virginia was one of the most affected states financially.
According to a study conducted by WalletHub, Virginia ranked as the fourth state most in need of loans during the pandemic.
New York was ranked first, and Maryland and Illinois claimed the other top three spots.
WalletHub reported Virginians ranked eighth in loan search interest and payday loan search interest.
Virginia also ranked third in the category ‘Change in Average Inquiry Count.’
Tennessee ranked 11th in the list of states where people need loans most, largely due to the study finding that Tennesseans ranked fourth in loan search interest.
North Carolina ranked 10th on the list.
Vermont was ranked by WalletHub as the state least in need of loans during the pandemic.
WalletHub reported using combined internal credit report data along with data on Google search across the nation to determine rankings.
To see the full study and results, click here.