How to Borrow Money on Cash App? (Easy Guide)

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Do you have an emergency and need cash this instant? Don’t fret because you can easily learn how to borrow money on Cash App when you’ve exhausted all other channels. This is especially useful knowledge if you need to get funding quickly without leaving your couch. Let’s get started.


How to Borrow Money on Cash App

how to borrow money on cash app
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Cash App is a premium online wallet that’s used all around the United States. That said, it’s no wonder the app has expanded its services. Through the app, you can make investments and even take out small personal loans during times of crisis. You’ll only need to access the Cash App Borrow feature to begin.


Check If You Have Cash App Borrow

Cash App has recently been rolling out the Cash App Borrow feature to its users. However, it isn’t available to everyone just yet. You can check if your account already has it by following these instructions:

  1. Launch Cash App
  2. Press your account balance (or house icon) on the upper-left
  3. Find the blue arrow icon with the “Borrow up to…” feature
    • Note: if you cannot find it, this means the feature is still unavailable to you
  4. Tap “Unlock”


Afterward, the Cash App should show you the amount you’re able to loan. If you want to know how to borrow money on Cash App moving forward, simply read the Borrow Loan Agreement. Once finished, you can accept the loan.

With that, you’ve learned how to borrow money from Cash App on iPhone or Android. The process is the same (or very similar) regardless of the platform. You should be able to borrow a decent amount if you’re eligible.


Unlocking Cash App Borrow

If you can’t find the “Borrow up to…” option, then learning how to borrow money on Cash App shouldn’t be your concern. That’s because you’re likely still ineligible and need to focus on gaining eligibility.

On the other hand, gaining eligibility isn’t always easy to obtain. Moreover, the limits on how much you can borrow will depend on your usage and history on the app. How do you unlock the feature?

Firstly, you need to use the Cash App regularly. Make sure to deposit a decent amount of money into your account frequently. The more you do, the more you’ll become eligible to use Cash App Borrow.

We recommend depositing around $1,000 monthly into your account. Moreover, doing so through Direct Deposits should boost your chances. These may be inconvenient, but if you want to learn how to borrow money on Cash App, they’re necessary.

Furthermore, Cash App suggests keeping a good credit score to gain eligibility. If you have a low score, you might be unable to unlock the feature at all. The app also prioritizes users who use Cash Card debit cards.

How long will this take, and how do you get to borrow money on Cash App? Unfortunately, the developers haven’t specified any period you have to wait to find the feature on your account.

In addition, the new feature is still undergoing testing and isn’t widely available. Even if you use the app often, deposit frequently, or have a good score, you’re not guaranteed this new feature.

This is because the feature is only launching to a limited number of accounts and states. Hence, you’ll simply have to check from time to time whether Cash App Borrow has become available to you.


Call Customer Service

If Cash App Borrow has launched in your state and you meet the requirements, you should be able to borrow money. Nonetheless, there are some instances wherein the Cash App still doesn’t roll out the feature to you.

In this case, you can either wait for the feature to roll out or call their customer service at 1-800-969-1940. If you opt for the latter, you can easily ask a representative to look into your account. You can ask them why your account is still considered ineligible despite meeting the requirements.

This should also help you understand where you’re potentially lacking. As a result, you can take measures to fix it or find a solution to mitigate the problem. Moreover, the folks at Cash App could have also simply looked over your account. Calling them should rectify the issue if you’re truly eligible for a loan.


Payment Terms and Length for Cash App Loans

The Cash App advance loan feature is a great addition to the app for users who need money now. Moreover, learning how to borrow money on Cash App is straightforward and shouldn’t be too complex even for non-tech-savvy users. However, there are a few terms and conditions you need to know about the feature before you begin borrowing money.

For instance, you must know the app’s payment terms. Typically, eligible account holders can take out loans and pay them back within four weeks. You can only find that your Cash App borrow has ended once you pay the whole amount.

Moreover, you need to pay the total plus a flat borrowing fee of 5%. Hence, you have an overall 60% APR. That’s a good deal if you contrast it with average payday loans that come up at 400% APR.

However, Cash App does have a higher APR than personal loans. Those typically come with only 9% APR. In addition, most states put a 36% cap on personal loan APRs, making them more cost-effective.

Furthermore, if you make any late payments, you’ll incur a 1.25% late fee. This is on top of the 5% flat fee the Cash App regularly charges to its loans. The 1.25% fee is also charged each week after a one-week grace period. Keeping these terms and fees in mind is essential to learning how to borrow money on Cash App.


Are There Limits to Cash App Loans?

Learning how to borrow money on Cash App is one thing. However, once you get past that hurdle, there are other things to consider. For instance, the Cash App borrow limit. What is Cash App’s maximum borrow limit?

Unfortunately, it’s pretty low if you compare it to alternatives. You may only borrow $200 from Cash App at most. Thus, you can’t take out larger cash loans even if you plan to pay them back within a few weeks.

In contrast, the minimum amount you can borrow is $20. However, the terms will stay the same regardless of the amount. You must pay the principal and the 5% flat fee within four weeks. Late payments will incur an additional 1.25% fee after a one-week grace period.

Furthermore, once you make a loan within the app, you can’t make another one. That’s because the Cash App forbids its users from making new loans when they have outstanding loan payments.

As a result, you need to pay the whole principal and additional fees first before you can borrow more. Now, this can be either good or bad. It’s bad if you need immediate cash often and you don’t mind paying back larger interests.

However, it’s a good limitation in the sense that it can protect you from incurring too much debt. After all, numerous money lenders like to add fees to those who want to roll over loans. With the Cash App’s limit, this won’t be possible at all.


Why Use Cash App Borrow?

Some people who have learned how to borrow money on Cash App feel disappointed with its limitations. After all, $200 is a pretty low short-term loan amount. What are you supposed to do with such a small amount of money?

Firstly, because the app only offers low loans and short-term payment schemes, it isn’t intended to be a long-term solution. It’s something you should only use if your bills and salary get out of sync for a month or two. The loan can only cover small expenses and keep you afloat in emergencies.

In addition, these low amounts and short-term payment plans can also work to your advantage. That’s because they’re not as high-stakes as most traditional loans. Hence, the process is fairly straightforward and you don’t have to jump through hoops to get money immediately.

In summary, it’s simply a quick way to get a bit of money when you’re strapped for cash. It’s good to use for emergencies. However, you shouldn’t rely on it if you’re trying to cover for something big.


Alternatives to Cash App for Loans

Learning how to borrow money on Cash App is great if you want to make small, short-term loans. However, what if you want better terms or alternatives that provide more than $200? Are there any other apps that can substitute for Cash App’s new feature? Fortunately, there are plenty. Here are some we recommend.



You don’t need to learn how to borrow money on Cash App if you have other options. Fortunately, Brigit is a good alternative app if you don’t want to constantly deposit to the Cash App. That’s because Brigit acts more as a personal finance app that lets you earn income through gigs.

It also takes a look at your accounts to see how you can improve your finances via financial plans. Brigit’s borrow money service is also slightly better in that it allows you to borrow $250. Yes, it doesn’t exceed the Cash App’s limit by much. Nonetheless, it’s a good alternative to consider if you don’t use the Cash App often.



MoneyLion is a decent borrow money app that allows you to borrow up to $300 with a RoarMoney account. Once borrowed, it takes only three to five business days to get the amount into your checking account. If you have a higher-tier RoarMoney account, that time drops down to 12 to 48 hours.

However, like the Cash App, MoneyLion has a few requirements. For example, you need to have 60 days’ worth of activity in your bank account. In addition, those transactions must show recurring deposits. You also must possess a positive account balance to be able to borrow anything.


Possible Finance

Unfortunately, like other money lending services, the Cash App looks at your credit history to gauge eligibility. However, what if you possess a bad credit score? Must you live without borrowing money? Not necessarily.

With Possible Finance, you can borrow money regardless of your score as long as you earn $750 monthly. Of course, it has conditions. For example, you must earn that income as a direct deposit. Moreover, the interest rates range from 150% to 200% APR. That’s a lot compared to Cash App — but it might be worth it for desperate situations.

Nonetheless, Possible Finance does have its perks. For example, you can get a cash advance of $500 through the app. Furthermore, there’s no fixed monthly fee so it’s similar to traditional lenders. There are also no banking services like credit or debit cards, so you’re not likely to incur more debt. However, you do need to enroll before you can take out a loan.



What Are the Accepted Payment Methods?

How Much Is the Interest?

Does Borrowing Money Build Your Credit Score?

Final Word

Learning how to borrow money on Cash App is easy. You simply need to become eligible, provided you’re living in a state where the feature is available. Just make sure you understand the terms, payment schemes, schedules, and other quirks before you apply.

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