5 Tips for Scoring Quick Cash When You Need It

Need some emergency cash?

While it isn’t always cheap, there are multiple solutions available to help you, your family and/or your business get the instant cash you need with a moment’s notice. Emergencies pop up, unexpected bills come due, and mechanical breakdowns eat into your wallet. When you need cash now, check out these quick cash options; weigh the pros and cons to decide which solutions are best for your family or business.

1. Traditional Loans from a Bank or Credit Union

Your bank offers personal loans to help their customers out when disaster strikes. Unfortunately, these personal loans require a strong credit score and a clean financial track-record. In some cases, a bank may accept collateral in order to back-up the loan, but these financial resources are slowed down by:

• Application processing times
• Bank requests for further verification
• The potential need to visit a branch in-person to meet with a loan officer, without a guarantee that the funds will be made available.

2. Peer-to-Peer Lending

A number of sites have popped up, enabling individuals to lend money to other individuals in need, via online platforms. These platforms are really cool, in theory, but they have the potential to be predatory. Individuals can set terms for the loan that are exorbitant, and potentially illegal.

The challenges associated with peer-to-peer lending have been well documented More than $1.6 billion were loaned out via these sites last year, but many “lenders” are having difficulty getting paid back. All around, peer-to-peer lending is a challenging, but promising market.

Borrowers and potential lenders looking to cash-in or take advantage of these platforms should probably wait for the market to mature.

3. Mobile Apps that Allow You to Earn  Cash in Exchange for Your Opinion

The mobile revolution is here. Virtually everyone has a smartphone, and the expensive monthly cellphone bill might be part of the reason you’re in need of some extra money. But, I have good news! Your iPhone or Android smartphone could be part of the solutions to accessing the money you need.

For example, Quick Cash allows you to create links and monetize your social media feed. Every time a friend installs the promoted app of the day with your link, you’ll receive a reward via PayPal. There are also apps, like the twenty listed here, that allow you to share your opinion in return for some spending money.

The challenge with these apps is that it takes time to learn the system. Then, you’ll need to invest some serious time in order to earn enough cash to “cash out” the rewards or money you’ve earned. There’s also the potential that an app like these direct you to a site that collects your personal information and sells it to the highest bidder.

While the thought of earning money on your smartphone might be tempting, it’s best to stay away from these too good to be true mobile money makers.

4. Sell Precious Metals for Quick Cash

There are a number of stores and websites that will offer to pay cash for your gold and other precious metals. If you have jewelry to sell, it’s best to get up to speed on the current exchange rate for the gold, silver and jewels in your jewelry.

If you aren’t familiar with the exchange rate for gold ounces to AUD, for example, you’ll likely be ripped off by unscrupulous “cash for gold” vendors.

5. Quick Cash from a Pawn Broker

One of the most trusted and reliable ways to earn quick cash is by working with a pawn broker in your community. A pawn broker will lend you up to 60% of the value of your car, truck, boat, jet ski, machinery, caravan, trailer or other asset of value. The best part is that a pawn loan is usually completed without running a credit check.

Hock Your Rides has been a trusted pawn broker for thousands of Australians, providing up to $100k in instant pawn loans, with a processing time of less than 30 minutes! By far, a pawn loan is the fastest way to access the funds you need, on a moment’s notice.

Don’t get stuck dealing with a bank (application processing is stringent and time-consuming), developing arthritis by taking endless surveys on a mobile phone, or haggling with a precious metal dealer. Turn to HYR for all of your quick cash needs.