Cash App Borrow: How To Borrow Money on Cash App

Close up of woman hands holding mobile phone with application to receive money.
Ridofranz / Getty Images/iStockphoto

Cash App Borrow is a feature of Cash App that provides eligible users with a quick, short-term loan of up to $200. Cash App charges a flat 5% fee for the loan that must be paid back over four weeks to avoid a 1.25% finance charge. 

If you’re considering using Cash App Borrow, you should fully understand how it works and what it will cost you. Read on to find out what eligible Cash App users need to know about Borrow and how to access the feature if you decide it is the right option.

Can You Borrow Money From Cash App?

It depends — not everyone can borrow money from Cash App. Whether or not you can use the feature depends on several things, including your credit history and score, the state where you reside, how often you use Cash App and whether you have an activated  Cash Card.

How To Borrow Money on Cash App

You will need to check the app to determine if Cash App Borrow is available to you. Follow the steps below to find out if you can borrow money from Cash App, and if so, how to do it.

A Better Way to Bank

Borrowing on Cash App

  1. Open Cash App.
  2. Tap on the home screen icon, if necessary, to navigate to the “Banking” header.
  3. Check for the word “Borrow.”
  4. If you see “Borrow,” you can take out a Cash App loan.
  5. Tap on “Borrow.”
  6. Tap “Unlock.”
  7. Cash App will tell you how much you’ll be able to borrow. Select an amount.
  8. Select your repayment plan.
  9. Read the user agreement.
  10. Accept your Cash App Borrow loan.

How Cash App Borrow Works

With Cash App Borrow, you can borrow up to $200. The minimum loan amount is $20. You have up to four weeks plus a grace period of one week to repay the loan plus a 5% flat fee.

If you have not repaid the loan in full by the grace period, you will be charged a 1.25% finance charge per week on the outstanding balance. If you are enrolled in automatic payments and do not pay off the Cash App Borrow loan by your due date, Cash App may deduct the loan balance from your Cash App balance or debit card. Cash App may also suspend you from the platform until the loan and any finance charges are paid in full.

A Better Way to Bank

This quick overview summarizes the Cash App Borrow loan terms:

  • Loan amounts range from as little as $20 to $200.
  • You will have four weeks to pay off your loan.
  • A one-week grace period will apply if you cannot pay the money back in that four-week timeframe.
  • If you miss the grace period, there will be a 1.25% finance charge.

Why Can’t You Borrow Money From Cash App?

Cash App Borrow is not currently available in all states. You also might not be eligible to borrow if you have poor credit or do not meet other Cash App requirements — Cash App notes how often you deposit money into your account and transfer money to other users. It also takes into account your credit history and whether you have a Cash Card, among other things.

Other Ways You Can Borrow Money if You’re Not Eligible for Cash App

If Cash App Borrow is not currently available to you, and you do not have an emergency fund from which to borrow or a family member who can make a quick loan to you, consider the following alternatives.

Cash Advances

You can get a cash advance on a credit card. Many cards have a 3% to 5% cash advance fee and a higher annual percentage rate for cash advances than purchases.

A Better Way to Bank

You might also consider using a cash advance app. Cash advance apps allow you to get a small advance on your next paycheck, much like a payday loan, without excessive fees. However, cash advance apps often have fees, so compare apps before getting an advance to determine your best option.

Personal Loans

Some personal loan providers have a quick approval process and can have funds to you in just a few business days or even the same business day if you are eligible. Those with poor credit might be eligible for a bad credit loan. Before borrowing, be aware of the loan APR and any origination or other fees.

Final Take

A Cash App Borrow loan is only a good deal if you have no cheaper alternative borrowing options and you need the money for an emergency. Just be sure to pay off the loan before the grace period ends.

Cash App Borrow is better than getting a payday loan, which can have up to a 400% APR, or even a bad credit personal loan with high APRs and origination fees. But you may be able to get a credit card cash advance for a 3% fee rather than Cash App’s 5% fee or use a cash advance app with a lower fee.

A Better Way to Bank

When considering any online lending options, evaluate the cost of borrowing money and the lender’s terms for repayment. Be sure to fully understand what you’re signing up for and whether you can afford to borrow.

Cash App FAQ

Here are quick answers to popular questions about Cash App Borrow.
  • What is Cash App Borrow?
    • Cash App Borrow is a short-term loan of up to $200 available to select Cash App users.
  • How do I activate Borrow on Cash App?
    • From the Cash App home screen, look for the word "Borrow." If it doesn't appear on your screen, you're not eligible for Borrow. If you do see "Borrow," tap on it and then tap "Unlock" to activate the Borrow feature.
  • Why can't I borrow money from Cash App?
    • Cash App doesn't give specific reasons why Borrow is unavailable to a particular user. However, the app Support section lists the factors that influence a customer's access to Cash App Borrow. They include the state of residence, having an activated Cash Card, Cash App usage and credit history.
  • How do you qualify for Cash App Borrow?
    • Cash App doesn't disclose specific criteria. However, it does note that you must live in a state where Cash App Borrow is offered. Cash App also considers your credit and factors related to your Cash App usage in its decision to make the feature available.
  • Does Cash App Borrow help your credit?
    • Cash App Borrow might help your credit, but if you miss payments, it's more likely to hurt your credit score. According to the Cash App Borrow Loan Agreement, Cash App may report your account information to the credit bureaus, but it does not explicitly state that it reports on-time payments. However, it may report late or missed payments.
  • What is the borrow limit on Cash App?
    • If you're eligible, you can borrow a maximum of $200 using Cash App Borrow.
  • What states allow Cash App Borrow?
    • The Cash App Borrow Loan Agreement indicates that loans are not available in all states, but it does not specify in which states a borrower must reside to be eligible for a loan. You can find out if you're eligible in the app.
  • Is Cash App safe?
    • Cash App uses fraud detection technology and encryption to secure your data and money and is PCI Data Security Standard Level 1 compliant. 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.

Cynthia Bowman, Cynthia Measom and Daria Uhlig contributed to the reporting for this article.

Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.

Our in-house research team and on-site financial experts work together to create content that’s accurate, impartial, and up to date. We fact-check every single statistic, quote and fact using trusted primary resources to make sure the information we provide is correct. You can learn more about GOBankingRates’ processes and standards in our editorial policy.

A Better Way to Bank

About the Author

Andrea Norris has been in the web publishing business for the past 15 years both as a content contributor and a copy editor specializing in personal finance, frugal living, home and auto topics. She writes both short and long-form content and is well-practiced in SEO keyword research and writing.
Learn More


See Today's Best
Banking Offers