To borrow money from Cash App, follow these steps:
- Check Eligibility and Unlock Borrow Feature
The Borrow feature is available only to select users based on factors like your account activity, transaction history, and creditworthiness. You must be at least 18 years old, a US resident, and have an active US bank account. Also, ensure you have the latest version of Cash App installed to see the Borrow option
- Access the Borrow Feature
Open Cash App on your smartphone, tap the Banking tab (money icon), and scroll down to find the Borrow option. If it’s available, tap "Get Started"
- Choose Loan Amount
You can borrow between $20 and $200 depending on your eligibility. Enter or select the amount you want to borrow
- Review Loan Terms
The loan comes with a flat fee (usually around 5%) and must be repaid within about four weeks. Review the loan details carefully before confirming
- Confirm and Receive Funds
After confirming, the loan amount will be instantly deposited into your Cash App balance for immediate use
- Repay the Loan
The borrowed amount plus fees must be repaid by the due date. Cash App may automatically withdraw the repayment from your linked bank account on the due date as per the loan agreement
Alternatives if You Can’t Borrow on Cash App
If you don’t qualify for Cash App loans or need a larger amount, consider alternatives like Viva Payday Loans, Heart Paydays, or Low Credit Finance. These offer loans ranging from $100 to $5,000 (or more) with flexible terms and faster approvals, though they may require more information and slightly longer processing times
. In summary, borrowing money on Cash App is straightforward if you are eligible, with small loan amounts and quick access. For larger or more flexible loans, third-party payday loan services are recommended.
