To borrow money from Cash App, follow these steps:
- Check Eligibility : The Borrow feature on Cash App is only available to select users who meet certain criteria:
- Be at least 18 years old.
- Use Cash App frequently, including regular deposits and transactions.
- Have an active Cash Card.
- Live in a state where the Borrow feature is offered.
- Maintain a positive account history with Cash App (good credit is not strictly required but consistent usage helps)
- Update Cash App : Make sure you have the latest version of the app installed to access all features, including Borrow
- Find the Borrow Option : Open Cash App and look for the "Borrow" button on the main screen. If you don’t see it, you may not yet be eligible or the feature has not been enabled for your account
- Apply for a Loan :
- Tap the Borrow button.
- Select the amount you want to borrow (typically between $20 and $200).
- Review the loan details, including the fixed fee (usually around 5%) and repayment terms (often four weeks).
- Confirm and submit your loan request
- Receive Funds : If approved, the loan amount will be instantly deposited into your Cash App balance
- Repayment : Cash App will automatically attempt to withdraw repayments from your Cash App balance or linked debit card according to the loan agreement
If you don’t qualify for Cash App Borrow or need larger loan amounts, consider alternative payday loan services like Low Credit Finance or Heart Paydays, which offer more flexible terms and higher limits but operate outside of Cash App
. In summary, borrowing from Cash App requires meeting eligibility criteria, accessing the Borrow feature in the app, selecting a loan amount, and agreeing to the repayment terms. The loan is then deposited instantly and repaid automatically within a few weeks
