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Food recalls are pretty common for things like rocks, insects and plastic

Rocks in Trader Joe’s cookies. Insects in its broccoli-cheese soup. Pieces of plastic in Banquet frozen chicken strips.

In recent weeks, U.S. consumers have seen high-profile food recalls for an unappetizing reason: They’re contaminated with foreign objects that have no place on a dinner plate. And while no one wants to bite down on stainless steel in peanut butter or bone fragments in smoked sausage, this type of contamination is one of the top reasons for food recalls in the U.S.

Food safety experts and federal agencies use the terms “extraneous” or “foreign” materials to describe things like metal fragments, rubber gaskets and bits of bugs that somehow make it into packaged goods.

“Extraneous materials” triggered nine recalls in 2022 of more than 477,000 pounds of food regulated by the U.S. Department of Agriculture’s Food Safety and Inspection Service — triple the number of recalls tied to food contaminated with toxic E. coli bacteria.

And the size of recalls can reach into the millions: In 2019, USDA reported 34 recalls of more than 16 million pounds of food, spurred in large part by a giant recall of nearly 12 million pounds of Tyson chicken strips tainted with pieces of metal.

Plastic pieces from frayed conveyor belts, wood shards from produce pallets, metal shavings or wire from machinery are all common. So are rocks, sticks and bugs that can make it from the field to the factory.

Some contamination may even be expected, the FDA acknowledges in a handbook.

“It is economically impractical to grow, harvest or process raw products that are totally free of non-hazardous, naturally occurring, unavoidable defects,” the agency wrote.

Both the USDA and FDA ask companies to promptly notify them when food is potentially contaminated with objects that may harm consumers. The agencies then determine whether recalls are necessary. Most recalls are voluntary and initiated by the companies, though the agencies can request or mandate the action.

Regulators said the Banquet issue was discovered when someone reported an oral injury after eating chicken strips. ConAgra Brands Inc., which owns Banquet, declined to comment beyond the firm’s news release. Trader Joe’s wouldn’t elaborate on how material got into the foods that led to its recent recalls.

Detection of unwanted objects has vastly improved in the past several years, said Keith Belk, director of the Center for Meat Safety and Quality at Colorado State University. Large manufacturers use magnets, metal detectors, X-ray devices and other technology to find unwanted materials in their products.

Still, “they’re going to miss things,” Belk said.

Those things have included pieces of gray nitrile glove that forced the recall of nearly 6,400 pounds of chicken tortilla soup in 2021 and pieces of copper wire that led to recall of nearly 5,800 pounds frozen beef shepherd’s pie in 2022.

There are also two notorious examples from 2017: “extraneous golf ball materials” that triggered a recall of frozen hash browns and a dead bat found in bagged salad that led the Centers for Disease Control and Prevention to recommend rabies treatment for two people.

In recent years, firms have become increasingly cautious and are recalling products more frequently than before, said Nathan Mirdamadi, a consultant with Commercial Food Sanitation, which advises the industry about food safety.

That may be because consumers don’t like finding weird things in their food. When they do, lawsuits may follow, experts said.

“It’s never good business to injure your customers,” Mirdamadi added.

Actual contamination may affect only a small amount of product, but firms recall all food produced within a certain window just to be safe. And while some of the food may be able to be “reconditioned” or treated for safety and sold again, “most of the time, it’s going to landfills,” Mirdamadi said.

Consumers who find foreign materials in food should notify manufacturers, experts said, but also realize that recalls are likely to stick around.

“The thing is, there’s never going to be a day where there’s zero risk associated with consuming a food product,” Belk said.

#Food #recalls #pretty #common #rocks #insects #plastic

Fed Threat Means Yen Intervention Still in Play After Rally

The yen remains vulnerable to sharp movements and government intervention even after its rally at the start of this week as key US data and central bank meetings loom large among potential catalysts.

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(Bloomberg) — The yen remains vulnerable to sharp movements and government intervention even after its rally at the start of this week as key US data and central bank meetings loom large among potential catalysts.

US inflation figures on Wednesday are expected to show price growth accelerating for a second month in August versus a year earlier. If headline price growth outpaces the consensus for a 3.6% gain, reignited speculation of another US interest rate hike might boost the dollar, returning the yen to fresh year-to-date lows. 

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The pace of any yen slump will likely be the key to whether officials at Japan’s Ministry of Finance respond with ramped-up verbal warnings or consider action.

“But history suggests that levels matter to some degree, so there will be plenty of caution ahead of 150,” said Sean Callow, senior currency strategist at Westpac Banking Corp. “There may be some hints at looming action in terms of the frequency of public comments, but successful intervention usually requires an element of surprise, so the MOF doesn’t want to tip its hand.”

The current mood in the market, with the dollar hovering above 146 yen early Tuesday, is reminiscent of the situation a year ago, when the yen’s steep descent weakening prompted Japanese authorities to conduct the first yen-buying operations since 1998. While a weak yen supports exporters, it also raises the cost of food and energy imports, hurting households and creating a headache for Prime Minister Fumio Kishida.

Last year Japan needed to shell out more than $60 billion in three interventions before the tide turned in its favor and the dollar backed away from a multi-decade high of 151.95 yen in October. Convincing international allies of the need to step into markets again may be more difficult this year as interest rate differentials are even wider now than they were in 2022.

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“The main argument against intervention any time soon is that the stark contrast between a dovish BOJ and US Fed funds rate at 5.38% justifies a weak yen. Most market participants probably regard the rise in USD/JPY since April as in line with fundamentals,” Callow said.

Unlike a year ago, a factor that may help Japan’s defense of the yen is the growing perception that the BOJ is moving closer to paring back its ultra-easy policy under a new governor.

Governor Kazuo Ueda said in an interview published Saturday that ending negative interest rates was among the options if inflation and wages keep rising. The BOJ may have enough information on both by the end of the year, he added. The comments bumped up support for the yen and boosted banking sector stocks on the hopes of higher interest rates.

But Ueda also said the bank remained some distance from achieving its price goal and that easing had to continue for now, comments that will put renewed downward pressure on the yen if they are repeated at next week’s policy meeting.

What Bloomberg Economics Says…

“The BOJ is sensitive to a weaker yen because it boosts cost-push inflation by lifting import prices — undermining prospects for demand-driven inflation it seeks. We think the BOJ is concerned about damaging second-round effects.”

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— Taro Kimura, Economist

To read the full report, click here.

The BOJ’s next meeting ends on Sept. 22, while the Federal Reserve finishes its next two-day meeting on the 20th. Japan’s first intervention last year followed the Fed and BOJ meetings in September.

“I think the government has conveyed its frustration to the BOJ and wants the bank to do its part on dealing with the yen’s weakness,” said Mari Iwashita, chief market economist at Daiwa Securities Co. “I don’t think the government will intervene when its ammunition is limited.”

Meantime, finance ministry officials have kept up a drumbeat of verbal intervention. Finance Minister Shunichi Suzuki and top currency official Masato Kanda have increased their warnings, saying recently that the government won’t condone what it considers speculative moves in the market if they become excessive. 

For now there have been no reports of currency officials contacting foreign exchange trading floors to ask what levels currencies are trading at. Such so-called rate checks effectively serve as a warning of possible imminent intervention.

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Some currency forecasters and corporate officials are not seeing a break in the weakening trend anytime soon, with the 150-level considered a trigger level for potential intervention. As of the end of August, Japan had $1.25 trillion in foreign reserves it could use to prop up its currency. 

Still, the macroeconomic context may erode appetite for such action, as Treasury yields may remain elevated, weighing on the Japanese currency, Ataru Okumura, a senior rates strategist at SMBC Nikko Securities Inc. in Tokyo, wrote in a research note on Monday.

“Yen intervention would prove to be futile and could even accelerate yen weakness,” Okumura wrote. 

—With assistance from Masaki Kondo.

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#Fed #Threat #Means #Yen #Intervention #Play #Rally

Analysts Are Bullish On ADA But Price Keeps Tanking, What’s Going On?

One coin that analysts seem to still be bullish on is Cardano’s native token ADA. However, despite all of the faith that remains in the digital asset, the price continues to tank and has fallen below multiple important support levels.

Analyst Goes Deep On Cardano

In an interview hosted by Altcoin Daily, crypto analyst Hashoshi shares very bullish views on the Cardano network. He starts out by explaining that the design decisions being made by the Cardano network have been some of the better ones in the space. Going further, Hashoshi lauds the development rate of protocols on the blockchain as projects continue to build.

“Cardano’s done things almost completely different from the start,” the analyst said. “They’re in a good position right now, despite what people might believe, to make a resurgence if the conditions are correct,” he further added.

For the price of ADA, the analyst explains that with liquidity coming back into the crypto space, the price of the digital asset could reach above its previous all-time high of $3.10.  “The community is still strong… and I think then you see them outstrip that previous all-time high.”

Hashoshi is not the only analyst bullish on the price of ADA going forward. Another analyst Kara Szabo has predicted that the price of the digital asset could climb to $5. Szabo also bought $20,000 worth of ADA at the start of September, signaling the analyst’s conviction on the altcoin’s bullish performance going forward.

“My conservative price estimate for the next bull run is $5,” Szabo said on X. “I know some people will think this is low, but this is a 20x from the current price!! For a large market cap alt, this very well may be one of the best plays in crypto at the current price point.”

Cardano (ADA) price chart from

Cardaon's token plunges to $0.24 | Source: ADAUSD on

But Why Is ADA Price Falling?

Despite the bullish sentiment that has enveloped the digital asset, the ADA price has continued to struggle in the market. The reason for this decline can be attributed to a significant amount of ADA being unstaked from smart contracts, causing the total staked ADA to slide downward.

Data from DeFi tracker DeFiLlama shows that the total tokens staked on the Cardano network dropped from above 777 million on September 2 to 733 million on September 11. This meant that over 43 million ADA were unstaked and likely made their way to the open market as these holders sold their stash.

Staked ADA falls

Staked tokens nosedive in September | Source: DeFiLlama

Such a large amount being dumped into the market in a period of low liquidity could see the altcoin continue to drop, especially if more ADA is unstaked to be sold in the open market.

However, ADA’s long-term outlook remains bullish as the Cardano network remains one of the networks with the most developments taking place. As developers flock to the network, investors are expected to follow.

At the time of writing, ADA is struggling at $0.24, down 2.33% in the last day and 5.10% in the last week.

Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet… Featured image from iStock, chart from

#Analysts #Bullish #ADA #Price #Tanking #Whats

UK youth face being worse off than parents, says social mobility chief

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The UK’s younger generation is in danger of being worse off than its predecessors, the government’s social mobility chief has warned, pointing to stagnating wages, marked geographic inequality and the impact of London’s “overheating” housing market. 

Alun Francis, chair of Social Mobility Commission, an advisory body, said many younger graduates were starting to feel “the social mobility story doesn’t work anymore” and said that policymakers needed to come up with fresh ideas to help those on the lowest incomes.

Speaking ahead of the commission’s annual State of the Nation report, due to be presented to parliament on Tuesday, Francis said there had been “winners and losers” across society since the financial crash of 2008. 

But he added that “the notion that this generation is going to be better off than the last generation is actually in question”. 

“That has to be a priority for us,” he said. “We have to ask the question: ‘are those at the bottom going to be better off than their parents’ generation?’”

The economy had to be central to that consideration, said Francis, adding that there was a link between economic innovation and social mobility, which was a key strand of the commission’s research. 

But the “biggest problem we’ve got”, he added, was an “unevenness” in economic geography that means “everything is so loaded towards London and the home counties”. 

“Nobody can afford to live there; younger graduates going to London are starting to get disillusioned, lose confidence,” he added. “They’re starting to feel the social mobility story doesn’t work anymore; [they] can’t buy a house.”

The likelihood of a young person getting on the housing ladder, the report is expected to say, has become determined to a much greater degree than in the past by whether their parents own their home.

The commission is set to provide a mixed picture of trends among different social groups and across different parts of the UK. Francis said policymakers did not have a clear enough understanding of how the British economy varied from place to place.

Although young people in London, Edinburgh and Manchester are more likely to end up in a professional job than those with similar socio-economic backgrounds from elsewhere, the commission is also expected to highlight that all three cities still suffer from levels of poverty and disadvantage.

Francis said the lowest 20 per cent of earners nationally — many of whom leave school without basic English and maths — should now be at the “heart” of policy.

“A lot of the provision that sets its target at the most disadvantaged hasn’t changed that — I think it misses it,” he said of previous attempts to improve mobility among the lowest earners. “I think we’re short on ideas about how to change their outcomes.”

A “few Dick Whittington stories” did not mean the country was fair, he said, adding: “We do know that wages have been sticky for a long time . . . and that underpins a lot of problems.”

#youth #face #worse #parents #social #mobility #chief

Globe takes partner for easy device switching

GLOBE TELECOM, Inc. has partnered with global insurtech Bolttech Management Ltd. — or bolttech — to launch a program for easy postpaid mobile device switching, the listed telecommunications company said on Monday.

“Globe is very proud to launch this new service with bolttech as we continue to look for innovative ways to serve our customers,” Darius Delgado, head of Globe’s consumer mobile business, said in a media release.

The program, which is called Gadget Xchange, offers flexibility to customers and allows them easy mobile device and screen replacement services, Globe said.

“This offer is another first and exclusive from Globe Postpaid, with the convenience of switching mobile devices, no questions asked. With Gadget Xchange, Globe Postpaid customers no longer have to wait for their contract renewal to change their devices, and they get to easily ensure device protection,” Mr. Delgado said.

Globe has cited a study conducted by bolttech that showed cracked screen, accidental breakage, and liquid damage as among the top concerns of mobile plan users in the country.

The program will be available for new and recontracting Globe postpaid and platinum customers through a monthly subscription fee.

He said this program will provide protection for the company’s postpaid mobile users as it gives its customers options in switching devices while also replacing their enrolled devices.

“Our partnership with the Philippines’ leading telecommunications brand Globe allows us to elevate the device protection services locally. Together, we share a vision of providing customers with an enhanced experience, making it easy and convenient, with added flexibility and choice in obtaining the protection they need,” Baldev Singh, chief executive officer Southeast Asia of bolttech, said.

Headquartered in Singapore, bolttech is an international insurtech, company that provides a technology-based ecosystem for protection and insurance. — Ashley Erika O. Jose

#Globe #takes #partner #easy #device #switching

Insuring Bitcoin Mining: An Interview with Thomas Shewchuck of Bitshure and Evertas

Chris sits down with Thomas Shewchuck from Evertas to talk about having his company Bitshure get acquired to make the bitcoin mining insurance landscape more robust. He talks about bitcoin mining insurance, bitcoin mining, the bear market, and preparing for the halving and the next bull run.

See the full interview on YouTube.

Bitcoin mining has become a global phenomenon, with individuals and businesses around the world investing in powerful computers and specialized hardware to participate in the process of verifying transactions on the blockchain. However, this rapidly growing industry is not without its risks. In this exclusive interview, we speak with Thomas Shewchuck, co-founder of Bitshure, which was recently acquired by Evertas, two leading companies in the Bitcoin insurance space, to gain insights into the importance of insuring Bitcoin mining and the unique solutions they offer.

Understanding Bitcoin Mining Insurance

Bitcoin mining insurance is a specialized form of coverage that protects individuals and businesses engaged in the mining process against a range of risks, including hardware failure, loss or theft of mining equipment, and cyber attacks. It provides financial compensation and support to miners in the event of unforeseen circumstances, enabling them to continue their operations and mitigate potential losses.

The Need for Insurance in Bitcoin Mining

The necessity for Bitcoin mining insurance stems from the significant investment required to set up and maintain a mining operation. Miners often spend substantial amounts of money on hardware and electricity costs, and the loss of equipment or interruption in operations can have severe financial implications. Insurance safeguards miners against these risks, offering peace of mind and financial security.

Furthermore, Bitcoin mining insurance not only protects miners from financial losses but also provides them with additional benefits. For instance, some insurance policies offer technical support and assistance in case of hardware failure. This can be particularly valuable for miners who may not have the expertise or resources to quickly resolve technical issues on their own.

In addition to financial protection, Bitcoin mining insurance can also play a crucial role in fostering trust and credibility within the mining community. By having insurance coverage, miners demonstrate their commitment to responsible and secure mining practices. This can enhance their reputation and attract potential business partners or investors who prioritize risk management and security.

Navigating the Risks of Insuring Bitcoin Mining

Insuring Bitcoin mining comes with its fair share of challenges. The industry’s evolving nature, coupled with the complex technical and cybersecurity risks, requires insurers to constantly adapt and reassess their coverage. However, these challenges also present significant opportunities for insurers to develop specialized expertise and innovative solutions that cater specifically to the needs of Bitcoin miners.

In conclusion, the importance of insuring Bitcoin mining cannot be overstated. Miners have access to specialized insurance solutions that cater specifically to their unique needs. These companies are shaping the future of cryptocurrency insurance by developing innovative coverage options and staying ahead of emerging risks. As the industry continues to grow and evolve, comprehensive insurance coverage will play a pivotal role in safeguarding the financial investments of Bitcoin miners around the world.

#Insuring #Bitcoin #Mining #Interview #Thomas #Shewchuck #Bitshure #Evertas

Jefferies picks Tata Motors, Maruti, 7 other stocks to buy this season

Shedding its ‘underperformer’ tag of the past four years, the Indian auto sector is all set to post a double-digit earnings CAGR over FY23-26E making it a prize catch for the investors, Jefferies said in a note while picking 9 stocks as buys out of the 11 in its auto universe coverage.

Jefferies picks Tata Motors and TVS Motor Company as its top picks from the pack while betting on Maruti Suzuki India (MSIL), Ashok Leyland, Bajaj Auto, Eicher Motors, Hero MotoCorp, Samvardhana Motherson and Sona BLW Precision Forgings. The brokerage has a ‘hold’ rating on Mahindra & Mahindra while and an ‘underperform’ on Bharat Forge.

The US-based brokerage finds FY25-based valuations still reasonable notwithstanding the FY24-based multiples, which it said are no longer cheap in case of most stocks. “FY25 based valuations on our estimates are still inline-or-below long-term averages for most stocks. We find this reasonable in context of expectation of strong double-digit earnings CAGR across our coverage over FY23-26E,” Jefferies said in a note.

The Nifty Auto Index, after lagging Nifty50 for four years, has outperformed by 33% in 2022-23. The key driver of the stock has been the improving one-year forward earnings outlook rather than valuations, the brokerage note said.

Citing examples, Jefferies said the rally in Tata Motors and Ashok Leyland has been entirely led by earnings outlook while one-year forward PE ratios have contracted in 2023. Even for Maruti and Samvardhana Motherson, earnings outlook has contributed over 85% of stock gains, the report highlighted. Other stocks with similar trends include TVS, Sona Blw and Bajaj Auto.

Improving demand and margin trajectory, along with a good product cycle for several companies, is driving a fresh upturn in autos resulting in the outperformance of the index, the report said.

The Nifty Auto Index lagged Nifty-50 for four years in a row between 2018 and 2021, underperforming the latter by 74% entering its worst downturn of decades initially led by regulatory cost push and financing issues which were later compounded by Covid and sharp rise in commodity prices. Though the lag still remains at 54% since 2018 against the broader Nifty50, the report noted.The 15-stock index has outperformed Nifty50 for 8 years between 2010 and 2017.

Stocks to Buy
1) TVS Motor: Buy | Target: 1,750 (up from Rs 1,550)

2) Tata Motors: Buy | Target: Rs 800

3) MSIL: Buy | Target: Rs 12,000 ( up from Rs 11,500)

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

(What’s moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.)

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#Jefferies #picks #Tata #Motors #Maruti #stocks #buy #season

Hollard Deploys Guidewire ClaimCenter on Guidewire Cloud for Seamless Omnichannel Claims Experience

SYDNEY & SAN MATEO, Calif.–(BUSINESS WIRE)–$GWRE #GuidewireClaimCenter–The Hollard Insurance Company Pty Ltd (Hollard) and Guidewire (NYSE: GWRE) announce that Hollard, one of Australia’s top five general insurers, has implemented Guidewire ClaimCenter on Guidewire Cloud to power its claims management system, which supports its intention of offering a seamless omnichannel digital experience to brokers and customers.

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ClaimCenter replaces multiple legacy claims processing platforms and will enable Hollard to quickly adapt to changing market demands and simplify its IT operations, by leveraging ClaimCenter on Guidewire Cloud.

In addition, Guidewire Cloud Data Access, ProducerEngage, CustomerEngage, and the Australia Goods and Services Tax for Claims capability have also been implemented. These systems combined provide Hollard with near real time access to data.

“We want to be the insurance partner of choice for Australia’s iconic brands,” said Hollard Chief Executive Officer Paul Fahey. “In order to move forward, we realised we needed to optimise our digital capability, and improve scalability, and efficiency. We looked for an elite partner to work with to build our single claims platform, enabling the experiences we want to deliver to our brokers and customers. Guidewire was the solution of choice and is helping us get there quickly.”

Hollard Chief Transformation Officer Jamie Smith said, “Guidewire provides us with a solid foundation that allows us to devote less time to system maintenance and focus on offering our people, brokers, and customers a much better user experience to retain and grow our business.”

“Within the first four weeks of rolling out Release 2 to our direct partners, we have seen a significant reduction in the time to lodge a claim. This is a phenomenal result on a new system, with the teams still learning the full capabilities of ClaimCenter,” said Hollard Chief Operating Officer Paige Vincent. “We have seen the continued benefits in our broker book, with customer experience improving significantly over the last 12 months since launching our first release. Our teams are excited about the ongoing opportunities that come with using an elite claims platform like ClaimCenter on Guidewire Cloud to support our brokers and customers when they need us most.”

“We congratulate Hollard on transforming its claims operations with Guidewire Cloud and are thrilled to be their strategic partner,” said Guidewire Chief Customer Officer Christina Colby. “We look forward to continuing to play an expanded role in enabling Hollard to continue its commitment to innovation and to delivering great insurance solutions to meet Australians’ dynamic insurance needs.”

Hollard initially implemented ClaimCenter on Guidewire Cloud in July 2022 across its personal lines broker business. The move to ClaimCenter is part of a broader business transformation that was recognised by a 2022 Guidewire Innovation Award; learn more about it here.

About Hollard

Established in 1999, The Hollard Insurance Company Pty Ltd (Hollard) and its related entities are part of the Hollard International Group of companies, operating in Australia and New Zealand. Hollard Insurance Partners Limited (formerly Commonwealth Insurance Limited) became part of the Group from October 2022. Hollard underwrites a broad range of general insurance products, including motor, home, contents, business, bicycle and pet; both directly and through partnerships. It is a top five insurer in Australia and is independent and privately owned. Hollard works in proud partnership with a range of leading direct insurance brands as well as broker businesses to bring to market an innovative range of insurance products to serve a wide range of customer needs. Hollard prides itself on the calibre and capability of its people, on being a positive business with an unrelenting focus on diversity and inclusion, and on building collaborative partnerships.

About Guidewire Software

Guidewire is the platform P&C insurers trust to engage, innovate, and grow efficiently. ​We combine digital, core, analytics, and machine learning to deliver our platform as a cloud service. More than 540 insurers in 40 countries, from new ventures to the largest and most complex in the world, run on Guidewire.

As a partner to our customers, we continually evolve to enable their success. We are proud of our unparalleled implementation track record, with 1,600+ successful projects, supported by the largest R&D team and partner ecosystem in the industry. Our marketplace provides hundreds of applications that accelerate integration, localization, and innovation.

For more information, please visit and follow us on X (formerly known as Twitter) and LinkedIn.

NOTE: For information about Guidewire’s trademarks, visit


Diana Stott

Director, Communications

Guidewire Software, Inc.


[email protected]

Craig Badings

Senate SHJ


[email protected]

#Hollard #Deploys #Guidewire #ClaimCenter #Guidewire #Cloud #Seamless #Omnichannel #Claims #Experience

5 Things to Keep in Mind When Taking Out a Loan

Loans can be helpful for a number of things. You might need a cash boost to start a business, money to tide you over until payday, or a loan to buy a new car or home. Many banks and financial institutions happily lend money to people to help them get what they want and need.

However, loan contracts are legally binding documents. This means having all the facts before signing your name on the dotted line is essential. Keep this information below in mind before taking out a loan for yourself or your business.

Interest Rates Can Vary

You’ll find information relating to interest rates in the loan requirements section of any set of loan documents. It’s important to know what interest rates you’ll face for your chosen loan type since rates vary. The higher the interest rate, the more you’ll have to pay.

However, some loan providers advertise higher interest rates because they lend to people that traditional lenders won’t. As a general rule, the level of risk related to a borrower can be reflected in the interest rate.

Your Credit History Can Make You a Risky Borrower

You might have every intention of paying your loan back in full, but if you’ve made financial mistakes in the past with a bill, credit card, or loan, you can be seen as a risky borrower. Lenders can look at your credit history and decide whether or not they want to loan to you. The more checkered your credit history is, the less likely it can often be for you to access traditional loans. Fortunately, you can still explore alternative funding options with bad credit, such as auto title loans and bad credit loans.

There Can Be Fees

It’s easy to assume that you’ll only have to pay interest on the money you borrow for a new car, house, business, or something else. However, fees can also be associated with establishing the loan and administration. What these fees are can vary for each lender. Sometimes, the fees make up a percentage of the loan, while other times, they are a set rate. It’s important to be aware of what these fees are so you know how much your loan will cost you over its lifetime.

You Can Shop Around

You don’t have to apply for a loan with the first company you find. Instead, you can shop around and compare rates. Compare the rates of loan providers you know you’ll have a better chance of being approved for. For example, you might compare various auto title loan providers if your poor credit history makes you ineligible for traditional lending.

Some Providers Make the Process Easier Than Others

When you need fast cash to make an important purchase, you don’t want to spend countless days trying to secure a loan. Some loan providers make the process far more straightforward than others. With some of the most well-known car title loans, you typically only need to provide:

  • A lien-free car title
  • Government-issued ID
  • Proof of income
  • Proof of residency
  • Proof of vehicle insurance
  • Vehicle registration details

There can be much to consider when taking out a loan. By researching your options before proceeding, you might stand a better chance of making a well-informed decision you’re satisfied with.

#Mind #Loan