How to Borrow Money From Cash App? Process To Get Loan From Cash App

If there are times when you need an advance before you get your paycheck, Cash App loan money could be a lifesaver. After all, sending and receiving money from the peer-to-peer payment service is so simple. The good news is, Cash App borrow has rolled out a Borrow feature to a limited numb

Does Cash App Let You Borrow Money?

Yes, Cash App makes loans of $20 to $200, according to a 2020 TechCrunch article. Cash App tested the Borrow feature with a limited roll-out to 1,000 users. While the company hasn’t disclosed the status of that testing, the app does note that Borrow is still not available to all customers. Whether or not a particular customer can use the feature depends on:

  • The state you live in
  • Whether you have an activated Cash Card
  • Your Cash App usage history
  • Your credit history

TechCrunch noted that loans funded quickly and required you to pay them back in four weeks or less. But carrying a balance so long can add up — at the time the TechCrunch article was published, Cash App reportedly charged a 5% flat fee to borrow, plus another 1.25% per week after the grace period.

As long as you go into it knowing that a Cash App Borrow loan is best for quick repayment, the new tool — if it’s available to you — could be helpful when you’re short on cash.

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How To Borrow Money From Cash App Borrow

As mentioned, Cash App Borrow isn’t available to everyone yet. The only way to know if it’s available to you is to check. Follow these steps to find out if you can borrow money from Cash App, and if so, how to do it:

How To Use Cash App Borrow

  1. Open Cash App.
  2. Tap on your Cash App balance located at the lower left corner.
  3. Go to the “Banking” header.
  4. Check for the word “Borrow.”
  5. If you see “Borrow,” you can take out a Cash App loan.
  6. Tap on “Borrow.”
  7. Tap “Unlock.”
  8. Cash App will tell you how much you’ll be able to borrow. Select an amount.
  9. Select your repayment plan.
  10. Read the user agreement.
  11. Accept your Cash App Borrow loan.

Is Cash App Safe?

It’s too soon to analyze how safe a Cash App loan application is, but the Cash App platform itself is secure. Cash App safeguards your personal information and your money in a few ways:

  • The app integrates with your smartphone’s screen lock, where PIN entry, Touch ID, passcode or facial recognition add an extra layer of protection if your phone is lost or stolen.
  • You can disable your Cash App card if you’ve misplaced it or for extra security.
  • You can set up email, text or push notifications to help you monitor your activity and warn you of unusual account usage.

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Cash App Borrow Money

What Other Ways Can You Borrow Money Online?

Having access to fast how to borrow money from cash app can make all the difference when you need money. Most people turn to the funds in an emergency savings account, borrow from loved ones or charge the expense to their credit card.

Fast-cash loans have their drawbacks, such as getting you into personal or credit card debt or charging high fees. While Block (formerly Square) continues rolling out Cash App loans, consider the following alternative lending options to get the money you need quickly.


Oportun provides an “affordable alternative to payday loans” and may be best suited for borrowers with no credit history or bad credit. You can borrow between $300 and $10,000 for up to 48 months. Oportun caps its annual percentage rate at 35.99%.


You can borrow between $1,000 and $40,000 through LendingClub. Once you establish a track record with LendingClub, you can borrow as many loans as you want at one time as long as they don’t total more than $50,000.

LendingClub charges a 3% to 6% origination fee for each loan. You’ll have up to five years to repay the loan in full, but don’t take too long — you’ll pay an annual percentage rate of 7.04% to 35.89%.

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OppLoans is another loan company specializing in bad credit loans, basing lending decisions on a variety factors beyond your credit score and credit history. Amounts of $500 to $4,000 are available. Repayment terms vary by state but generally range from nine to 18 months.

Although having the option to pay back the loan over a longer period of time takes some of the pressure off, it’s important to use caution. The OppLoans APR is 160% on the amount you borrow in many states.

As with all bad-credit or no-credit-score loans, it’s important to watch the APR. Otherwise, you could end up paying far more in interest than the original amount you borrowed.

Final Take

A Cash App Borrow Money loan seems like a good option for a short-term loan for a few bucks — if you’re eligible. When considering other online lending options, evaluate the cost of borrowing money as well as the lender’s terms for repayment.

Most online lenders claim they’ll provide cheaper loans than a payday loan, but the loans are still pretty expensive if you don’t pay the balance off quickly. Be sure to fully understand what you’re signing up for and whether you can really afford to Cash app  borrow.

Ellena Joshi

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