LendingTree study shows Wyoming sees largest growth in new business applications

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Tyler Johnson, [email protected] [VIA LENDINGTREE]

SWEETWATER COUNTY, WYOMING (December 4, 2020) – In a study researched by LendingTree, an online lending marketplace, Wyoming is seeing the largest growth in new business applications amid the COVID-19 pandemic.

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In fact, the research shows that the coronavirus is turning many Americans to entrepreneurship to make ends meet.

In Wyoming, average annual business applications grew by 193% from 2006 to 2019. This year, business applications in Wyoming have already surpassed 2019 levels, according to LendingTree.

There were over 20,000 new non-store retailers, or e-commerce shops, applications in July. Those are the type of business one might open up to take advantage of a side hustle, so it makes sense with the COVID-19 crisis ripped through the country.

This year, there was a large spike in business applications after the CARES Act was signed into law on March 27.

To read LendingTree’s full study, click here.

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