How to Borrow Money From Cash App

How to borrow money on Cash App?

Cash App has been keeping Cash App Borrow very much on the down low, but there is a way to find out if you’re eligible. Here’s how:

Step 1. Open Cash App on your mobile phone

Step 2. Click on your balance (this should take you to the “Banking” page)

 Step 3. If you see a header that says “Borrow,” you’re eligible for Cash App Borrow.

⚠️ Here’s the important part. If you don’t see “Borrow” but you get a notification from outside the app saying you’re eligible for a Cash App loan, it’s a scam. Stay well away my guy. (If the borrow feature is available, skip to step 5) 

Step 4. If you’re not eligible, you can head to “support” for more info. Just type “Borrow” in the search bar, and you’ll get a proper explanation of Cash App’s eligibility requirements. You can also chat with their support team. 

Step 5. Select loan amount 

Step 6. Choose A repayment plan 

Step 7. Read the user agreement  

Step 8. Accept the loan

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Can you borrow money from Cash App?

Cash App. From its name, it wouldn’t be totally wild to presume that this is some kind of app you can… borrow cash from.

The reality is less straightforward. Cash App does have a borrow feature. But. Cash App Borrow is still in the testing phase, so it’s not available to most people.

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Cash app's feature allows some users to borrow up to $200 for emergencies. Eligibility depends on things like your state of residence and your credit history.

Cash App’s main function remains as a good old peer-to-peer payment service that allows users to send money to each other (think Venmo). It has some other cool features too, like Cash App Invest, where users can invest in stocks.

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How the Cash App Borrow feature works

Cash App Borrow is a type of short-term loan offered through the Cash App platform. This is how it works:

If you’re eligible you can take out a loan from $20 to $200.

You then have four weeks to pay back the loaned amount plus a 5% flat fee.

This 5% fee translates to a 60% APR overall. This is a good deal compared to payday loans, which typically come with an average close to 400% APR. However, it’s way higher than personal loans, which legally can’t top 36% in most states.

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What you get with Cash App Borrow:‍

💰 Maximum loan: $200

💰 Term: 4 weeks

💰 Cost: 5% flat fee

💰 Fees: on top of the 5% flat fee, Cash App Borrow has a 1.25% late fee per week

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Why can't I borrow on Cash app?

The factors Cash App takes into account when working out your eligibility are things like your state of residence and credit score. Don’t worry, if you’re not eligible, it might just be that Cash App has rolled back the Borrow feature in your state.

If you’re working with a less-than-great credit score, there are plenty of other apps to borrow money from out there.

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Still looking for a cash loan?

You’ve got options, but cash app isn’t it. If you see anything offering "$100 free cash app money," it’s a scam.

There are some ways to make money on Cash App, which we cover in our article. This includes rewards programs like Cash App boost, where you can make money back on purchases.

But if you need to get cash now, the most free money Cash App offers is their $5 referral fee.

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Where to get a cash advance if you’re not eligible for Cash App

So you’re not eligible to borrow money from Cash App, but you need help making it to your next payday. What we’re not gonna do right now: take out an extortionate payday loan.

Don’t worry, there are plenty of cash advance apps out there. And even better than Cash App Borrow, they don’t charge interest or require any credit checks. In fact, we wrote a whole guide on the top cash advance apps of 2023, where you can find the right one for you 💍

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✨ Need of a quick spot? Cleo can offer up to $250* with no interest, no credit check or employment verification required. Download the app to find out how much you’re eligible for ✨

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How to get a cash advance from Cleo

As we mentioned, you can get a cash advance of up to $250* from our little money app, Cleo.

Our quick spot comes with a load of helpful features aimed at helping you eventually not need it. It’s also interest-free, and doesn’t require any credit checks or regular income (we see you freelancers 👁️👄👁️)

You also get access to a load of other cool features, like Roast Mode, if you need reading for filth on your unhinged Amazon spending sprees.

Want to know more? We have a whole article on how to get a Cleo cash advance.

Want up to $500? Check out Builder.

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Enjoy this post? Give it a share or send it along to a friend. You never know, it could make a big difference. Big love. Cleo 💙

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¹Cleo Plus is our subscription service, which offers eligible users cashback on your money, information on your credit score, and access to cash advances (“Cash Advance”). Advance amounts will vary based on eligibility. If you don’t want to subscribe, you can also apply for cash advance by contacting our customer service at team@meetcleo.com. To learn more about eligibility, repayment, and overall terms, please visit: meetcleo.com/terms.