In today’s fast-paced world, financial emergencies can arise unexpectedly. If you’re a Cash App user, you may be wondering: Can you borrow money from Cash App? The answer is yes—Cash App offers a lending feature called Cash App Borrow, allowing eligible users to take out short-term loans.
In this comprehensive guide, we’ll cover everything you need to know about borrowing money from Cash App, including eligibility requirements, loan limits, repayment terms, and alternatives if Cash App Borrow isn’t available to you.
Also read: How to Add Your Vanilla Gift Card to Venmo: A Step-by-Step Guide
What Is a Cash App Borrow?
Cash App Borrow is a short-term loan feature that lets eligible users borrow up to $20 to $200. This amount must typically be repaid within four weeks, plus a 5% flat fee (subject to change depending on Cash App’s policy).
It’s a convenient option for emergencies, but it’s currently available only to a limited number of users.
Key Features of Cash App Borrow
- Loan amounts:
- 20to
- 20to200
- Repayment period: 4 weeks
- Flat fee: 5% of the borrowed amount (if repaid on time)
- Late fee: 1.25% weekly (if repayment is delayed)
How To Borrow Money From Cash App (Step-by-Step)
Step 1: Check Your Eligibility
Not all Cash App users have access to Cash App Borrow. Eligibility depends on factors such as:
- Account activity (how often you use Cash App)
- Credit history (Cash App may perform a soft credit check)
- State availability (not available in all U.S. states)
Step 2: Open Cash App & Navigate to Borrow
- Open the Cash App on your mobile device.
- Tap the “Banking” or “Money” tab (look for the bank icon).
- If eligible, you’ll see the “Borrow” option.
- Tap “Borrow” and select “Unlock” to activate the feature.
Step 3: Choose Your Loan Amount
- Select how much you want to borrow (between
- 20and
- 20and200).
- Review the repayment terms and fees.
Step 4: Accept & Receive Funds
- Confirm the loan agreement.
- The borrowed amount will be deposited into your Cash App balance instantly.
Step 5: Repay the Loan
- Cash App will automatically deduct payments from your balance or linked bank account.
- You can also repay early to avoid additional fees.
Is Cash App Borrow Available to Everyone?
No, Cash App Borrow is not available to all users. Access is limited and based on several eligibility factors, including:
- Credit history
- Cash App usage and account activity
- Direct deposit history
- Location (not available in all states)
If you don’t see the “Borrow” option, it means you’re currently not eligible—but that could change as your account matures.
How to Check If You’re Eligible for Cash App Borrow
Follow these steps to see if you can access the Cash App Borrow feature:
- Open the Cash App on your mobile device.
- Tap the Banking or Money tab on the home screen.
- Look for a section titled “Borrow”.
- If available, tap it to see how much you can borrow and the repayment terms.
If you don’t see this option, it means you’re not eligible yet.
Cash App Borrow Fees and Repayment
Interest & Fees:
- 5% flat fee on the borrowed amount
- No compounding interest
- Possible late fees if not repaid on time
Repayment Options:
- Automatic deduction from your Cash App balance
- Manual payment via linked bank account or debit card
- Payment extensions may be available in some cases (fees may apply)
Tips to Improve Eligibility for Cash App Borrow
If you don’t see the “Borrow” feature yet, here’s how to boost your chances of gaining access:
- Set up Direct Deposit with your employer
- Use Cash App regularly for spending, receiving, and transferring money
- Maintain a healthy balance
- Avoid negative balances or frequent disputes
- Keep your credit score in good standing
Cash App periodically reviews accounts and may unlock the borrow feature for users who meet these criteria.
Risks and Considerations
Before borrowing from Cash App, keep these things in mind:
- Short repayment window – Usually just 4 weeks
- Limited borrowing amount – Not ideal for larger financial needs
- Missed payments can affect account access or result in collections
- Cash App may restrict access to other features if you default
💡 Pro tip: Borrow only what you can repay to avoid extra fees and disruptions to your Cash App account.
Alternatives to Cash App Borrow
If you don’t have access to the borrow feature or need more funds, consider:
- Payday advance apps (e.g., Earnin, Dave, Brigit)
- Credit builder apps (e.g., Self, Credit Karma Money)
- Personal loans from online lenders or credit unions
- Buy Now, Pay Later platforms (e.g., Affirm, Klarna)
Always compare rates and terms to ensure you’re getting the best deal.
FAQs About How To Borrow Money From Cash App
1. Is Cash App Borrow available to everyone?
No, Cash App Borrow is invite-only and depends on your account activity, credit history, and location.
2. What happens if I don’t repay my Cash App loan?
- Late payments incur a 1.25% weekly fee.
- Continued non-payment may result in account restrictions or debt collection.
3. Can I increase my Cash App Borrow limit?
Currently, the maximum loan amount is $200, and Cash App does not allow limit increases.
4. Are there alternatives if I don’t have Cash App Borrow?
Yes! Consider:
- Payday Alternative Loans (PALs) from credit unions
- Earnin’ or Dave (cash advance apps)
- Personal loans from banks or online lenders
5. Does Cash App Borrow affect my credit score?
Cash App may perform a soft credit check, but timely repayments are not reported to credit bureaus. Late payments, however, could hurt your credit if sent to collections.
Pros & Cons of Cash App Borrow
Pros:
✅ Fast access to cash (funds arrive instantly)
✅ Non traditional credit check (soft pull only)
✅ Low flat fee (5%) if repaid on time
Cons:
❌ Limited availability (not all users qualify)
❌ Small loan amounts (max $200)
❌ High late fees (1.25% per week)
Alternative Ways to Borrow Money Instantly
If Cash App Borrow isn’t an option, consider:
- Payday Loans (high interest, short-term)
- Credit Card Cash Advances (quick but costly)
- Peer-to-Peer Lending (P2P) (e.g., LendingClub)
- Pawn Shop Loans (secured by collateral)
Final Thoughts on How To Borrow Money From Cash App
Cash App Borrow is a convenient way to get a small, short-term loan if you qualify. However, due to its limited availability and low borrowing limits, it may not be the best solution for everyone. Always borrow responsibly and explore other options if needed.
Did you find this guide helpful? Let us know in the comments!