How to Borrow Money From Cash App

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One such source is the Cash App, a popular peer-to-peer payment platform that has expanded its services to include the option of borrowing money.

In today’s fast-paced world, financial emergencies can arise at any moment. When unexpected bills or expenses come knocking, having a reliable source to borrow money from can make a significant difference.

Cash App, developed by Square Inc., initially gained popularity as a peer-to-peer payment app that allows users to send and receive money seamlessly. However, it has now expanded its offerings to include various financial services, including the option to borrow money.

This feature provides users with a convenient and quick solution to cover unexpected expenses without the hassle of traditional loan applications. In this article, we will walk you through how to borrow money from cash app, step by step.

What is Cash App Borrowing Feature?

Cash App’s borrowing feature allows eligible users to apply for short-term loans directly within the app. These loans are meant to provide financial assistance in times of need and are typically designed for smaller amounts. The process is streamlined and user-friendly, making it accessible to a wide range of individuals.

Also Read: What Bank is Cash App?

Cash App Borrowing Eligibility Criteria

Before you dive into the borrowing process, it’s essential to understand the eligibility criteria set by Cash App. To qualify for a loan, you must meet certain requirements, which may include having a verified Cash App account, a history of regular transactions, and a consistent source of income. These criteria ensure that borrowers have the means to repay the borrowed amount within the stipulated time frame.

How to Borrow Money From Cash App

To borrow money from Cash App, you must meet the following eligibility requirements:

  • Be at least 18 years old
  • Have a Cash App account in good standing
  • Have a U.S. bank account linked to your Cash App account
  • Have a positive Cash App credit history
  • Live in a state where Cash App Borrow is available

Once you have met the eligibility requirements, you can follow these steps how to borrow money from Cash App:

How to Borrow Money from Cash App
How to Borrow Money From Cash App
  1. Open the Cash App app and sign in to your account.
  2. Tap the Banking tab.
  3. Tap Borrow.
  4. Tap Unlock.
  5. Cash App will show you how much you can borrow.
  6. Select the amount you want to borrow.
  7. Choose your repayment plan. You can choose to repay the loan over 2 weeks or 4 weeks.
  8. Read and accept the loan agreement.
  9. Tap Borrow.

Cash App will deposit the money into your linked bank account within minutes. You will have 2 weeks or 4 weeks, depending on your repayment plan, to repay the loan plus a 5% fee. If you do not repay the loan on time, you will be charged a late fee of 1.25% per week.

Repaying the Cash App Loan

Automatic Repayment from Cash App Balance: Cash App simplifies the repayment process by automatically deducting the owed amount from your Cash App balance on the due date. This eliminates the need for manual repayment.

Manual Repayment: If you prefer, you can choose to repay the loan manually by initiating a repayment from your Cash App balance before the due date.

Benefits of Using Cash App to Borrow Money

Borrowing money through Cash App offers several advantages:

  • Speed: The application process is quick, and funds are disbursed almost instantly.
  • Convenience: Everything, from application to repayment, can be done within the app.
  • Accessibility: The eligibility criteria are lenient, providing access to a broader user base.
  • Transparency: Loan terms and conditions are clearly presented before acceptance.

Considerations Before Borrowing

Here are some things to keep in mind when borrowing money from Cash App:

  • The interest rate on Cash App loans is high, so it is important to only borrow money if you absolutely need it.
  • You must repay the loan within the specified time frame, or you will be charged late fees.
  • If you have trouble repaying the loan, you may be able to get a deferment or forbearance. However, these options may come with additional fees.
  • It is important to read the loan agreement carefully before you borrow money from Cash App. This agreement will outline the terms and conditions of the loan, including the interest rate, repayment terms, and late fees.

If you are considering borrowing money from Cash App, it is important to compare it to other lending options available to you. You may be able to get a lower interest rate or better repayment terms from a traditional bank or credit union.


I hope you understand how to borrow money from cash app. Borrowing money from Cash App can provide a convenient solution during financial emergencies. With a user-friendly process and various benefits, it’s a viable option for those in need of quick funds. Remember to assess your ability to repay and understand the terms thoroughly before proceeding.


Can I borrow a large sum of money through Cash App?

Cash App’s loans are typically designed for smaller amounts, and the borrowing limit is determined based on various factors.

Is my credit score affected by borrowing through Cash App?

While borrowing from Cash App may not directly impact your credit score, failure to repay could have consequences.

Are the interest rates competitive?

Cash App’s interest rates and fees may vary, so it’s essential to review the terms before accepting the loan offer.

Can I repay the loan early?

Yes, you can repay the loan before the due date without incurring any prepayment penalties.

What happens if I can’t repay the loan on time?

If you can’t repay the loan on time, your Cash App account may face restrictions until the payment is made.

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