Small U.S. business defaults up in states hit hard by COVID-19 By

0
13

© . FILE PHOTO: A closed barber shop is shown during the outbreak of the coronavirus disease in California

By Ann Saphir

() – U.S. states hit hardest by COVID-19 had some of the biggest jumps in small business loan defaults since the onset of the pandemic, and some of the highest rates of default overall, according to data provided to on Friday by PayNet, a division of credit tracking company Equifax Inc (NYSE:).

For a graphic of the top ten states by default rates in June, please see https://tmsnrt.rs/33l88TU.

For a graphic of the top ten states by rise in default rates since February, please see https://tmsnrt.rs/30eZ0hW

From February, before the scourge, to June, the most recent data available, defaults among small businesses rose fastest in New York, where the disease has killed more people than in any other state.

Louisiana, the state with the highest per-capita case count as of the end of July, had the fourth-highest default rate among small businesses, the PayNet data shows.

Florida, with the fourth-highest per-capita COVID-19 case count, had the highest default rate of any state, at 4.29%.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.