(NPN) — South Dakota is the 12th hardest hit state because of the federal government shutdown, according to a new study.
Factors appear to be large per capita veterans and federal employee populations as well as dependence on Small Business Administration loans.
WalletHub came to these conclusions after analyzing seven key areas in which government inoperability will affect citizens and then ranking their relative impact oneach of the 50 states as well as the District of Columbia.
“Small business owners from the Dakotas, Colorado, Alaska, and Michigan who are looking for funding are hurt most by an inability to garner SBA loans, as those states have displayed the highest small business borrowing rates in recent years,” the report noted.
WalletHub says Virginia, with its large number of federal workers is the hardest hit state while Iowa is the least impacted.
“Interestingly enough, while sick children and disappointed World War II veterans have only been able to prompt piecemeal funding proposals, the anger of key constituencies may just prove to be the impetus needed to break the Congressional stalemate, particularly since Republican-leaning states stand to be hit disproportionately hard by a prolonged shutdown,” the report said.
According to WalletHub, South Dakota has the 10th highest per capita of federal employees, the 7th highest per capita of veterans and rates 2nd in dependence on SBA loans.
Other regional state rankings from most to least affected: 16. Montana; 17. North Dakota; 23. Wyoming; 45. Nebraska; 48. Minnesota and 51. Iowa.
Data used to conduct this study came from of the Department of Education, the U.S. Small Business Administration, Realtor.org, the Brookings Institute, FedsDataCenter.com and the U.S. Department of Veterans Affairs.
Founded in 2012 WalletHub calls itself “a one-stop destination for all the tools and information consumers and small business owners need to make better financial decisions and save money.”
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