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How To Borrow Money From Cash App in 8 Simple Steps

Wondering if you can get a quick loan through Cash App? The good news is – yes, you can! Cash App now offers an easy borrowing feature called Cash App Borrow.

In this step-by-step guide, I‘ll walk you through exactly how to borrow money from Cash App in just a few quick taps. I‘ll also share key tips, so you can use this borrowing feature wisely. Let‘s get started!

Can You Really Borrow from Cash App?

Yes, Cash App does offer loans between $20-$200 through its Borrow feature. Here‘s a quick rundown of how it works:

  • You‘ll pay a 5% flat fee on the loan amount. For a $100 loan, that‘s a $5 fee.
  • The loan must be repaid within 30 days.
  • You can choose to repay in 4 weekly payments, 10% of deposits, or all at once.
  • If you miss the repayment deadline, a 1.25% late fee is charged weekly.
  • Loans do not currently show up on credit reports.

Cash App launched this borrowing feature in late 2020. But it‘s only available to select users right now. You‘ll need to have the "Borrow" tab visible in your Cash App to access loans.

So how do you know if you‘re eligible? Let‘s look at that next.

Step 1: Check If You Can Borrow

The first step is to see if you even have access to Cash App Borrow. Unfortunately, this feature isn‘t available to everyone yet.

Here‘s how to check if you can borrow:

  1. Open up the Cash App on your phone.

  2. Tap the profile icon in the top-right corner.

  3. Select “Banking” from the menu.

  4. Scroll down the page.

If you see a “Borrow” option, great news − you‘re eligible! If not, you‘ll have to wait until Cash App expands access further.

According to Cash App, they are slowly rolling out this feature to select users. The eligibility criteria are not made public. But having an active Cash App account, making frequent transactions, and linking a debit card can improve your chances.

Step 2: Tap “Get Started” on the Borrow Tab

Once you confirm you have access to borrowing, it‘s time to get started.

Here‘s what to do:

  1. From the Banking tab, select the “Borrow” option.

  2. On the Borrow page, tap the “Get Started” button.

This will prompt Cash App to evaluate your account activity. Based on your eligibility, you‘ll see the maximum loan amount you can borrow.

For many new borrowers, this limit starts at $20. But you may be able to borrow up to $200 based on your Cash App history and credit factors.

Step 3: Enter the Loan Amount You Need

Next, you‘ll enter the loan amount you wish to borrow. Make sure to only request what you can reasonably afford to repay within 30 days.

On the Borrow page, you can either:

  • Use the slider to select an amount.
  • Tap the dollar amount to type in a specific amount.

For example, if you need $75 quickly, slide the bar to $75 or enter 75 in the dollar box.

Once you input the loan amount, tap "Next".

Tip: First-time borrowers often start at the $20 level. You can request higher amounts later once you repay your first loan on time.

Step 4: Review Your Loan Details

On the next screen, you‘ll see important loan details, including:

  • The loan amount you requested.
  • The 5% borrowing fee.
  • The total repayment amount (loan + fee).
  • The repayment date 30 days from when you take out the loan.

This is crucial – take a moment to review all the information and make sure you understand the terms. The last thing you want is any surprises down the line!

If you need any clarification, Cash App customer support is available 24/7. I‘d suggest reaching out before moving forward with a loan.

Step 5: Select Your Repayment Method

The next step is picking how you want to repay the Cash App loan. You‘ll have 3 options:

1. 4 Weekly Payments

Repay the loan in 4 equal weekly installments. Cash App will withdraw 25% of the total amount from your Cash App balance each week.

Many people like this option because it spreads repayment over a month rather than owing the full amount at once.

2. As You Get Cash

10% of any money deposited into your Cash App balance will automatically go towards repaying your loan.

This links repayment to your incoming deposits. The full loan must still be repaid within 30 days.

3. All at Once

Repay the full loan as a lump sum either on or before the due date.

This requires having the full repayment amount ready upfront – but avoids weekly payments.

Choose the option that best matches your situation. The 4 weekly payments plan is often the most manageable approach.

Once you select a repayment method, tap "Next" to continue.

Step 6: Review and Confirm Your Loan

We‘ve made it to the final step in the loan process!

Cash App will display a "Confirm Borrow" page summarizing all the key details:

  • Loan amount
  • Borrowing fee
  • Total repayment amount
  • Repayment method you selected
  • Date the repayment is due

Look over the information closely. Make certain you agree to the terms and conditions.

If everything looks good, tap "Borrow Instantly" to confirm the loan.

Step 7: Your Loan Funds Will Now Deposit

Congratulations – once you tap "Borrow Instantly", the loan funds will instantly deposit into your Cash App balance!

You‘ll see the transferred amount appear in your activity feed with a note saying it came from “Cash App Borrow”.

You can now use these funds however you need – pay bills, send money to friends, shop online, etc.

But be sure to budget correctly so you have the repayment amount ready when the time comes. Let‘s go over that next.

Step 8: Repay Your Loan on Time

The final step is making sure to repay your Cash App loan on time. Here are some tips:

  • If you selected weekly payments, repayments will automatically withdraw from your Cash App balance each week.

  • With the "As You Get Cash" option, 10% of deposits will go towards repayment. Track your progress in the Borrow tab.

  • If you chose one lump sum payment, manually repay from your balance before the due date. Tap the Borrow tab and select "Repay Early".

  • To avoid late fees, be sure to repay the full amount no later than your repayment date.

Repaying on time is critical for avoiding extra fees and keeping your borrowing privileges. So set payment reminders and budget accordingly!

If you plan to utilize Cash App Borrow, make sure to borrow responsibly. Here are 6 tips:

1. Only borrow what you can repay on time. Don‘t take on debt that will be a struggle to payback. Late fees can quickly pile on otherwise.

2. Factor the 5% fee into your budget. It‘s easy to forget about the borrowing fee. Make sure you have enough to cover the 5% on top of repaying the principal.

3. Link a debit card or bank account. This gives Cash App a backup source to pull from if your Cash App balance is low when repayment is due.

4. Turn on notifications. Get notified as repayment dates approach, so you don‘t miss payments.

5. Pay a few days early. Don‘t wait until the last minute. Set a reminder to repay at least 2 days before the actual deadline.

6. Monitor your status. Check the Borrow tab to see outstanding amounts owed and when they are due.

Before getting a Cash App loan, it‘s smart to weigh the advantages and disadvantages:


  • Quick access to funds. You can get approved and receive funds instantly.

  • Short repayment terms. 30 days is a relatively short borrowing period.

  • No impact on credit score. Cash App currently doesn‘t report loans to credit bureaus.

  • Manageable payments. The 4 weekly payment option makes repayment more affordable.


  • High fees. The 5% flat fee is expensive compared to other short-term loan options.

  • Risk of falling behind. Late fees pile on quickly if you miss repayment dates.

  • Small maximum amount. You can only borrow up to $200, making this best for small emergency loans.

  • Account history matters. Those newer to Cash App may have lower borrowing limits.

As you can see, the convenience and quick access come at the cost of higher fees and strict repayment requirements. Make sure to educate yourself on both the pros and cons before moving forward.

Given the high cost, who should turn to Cash App for a quick loan – and who shouldn‘t?

Good for:

  • Covering small, urgent expenses between paychecks
  • Individuals with limited emergency savings
  • Handling unexpected auto repairs or medical bills

Not ideal for:

  • Long-term borrowing needs
  • Recurring expenses like rent or utilities
  • Anyone at risk of falling behind on payments

This type of loan is best for one-time, short-term borrowing needs under $200. It comes at a premium cost, so utilize only as a last resort over options like credit cards or family loans.

If you decide the fees or terms of a Cash App loan don‘t make sense for you, here are a few alternatives to consider:

  • Credit cards: Balance transfer or low-interest cards are preferable for larger borrowing needs.

  • Payday alternative loans: Some credit unions offer small loans at lower rates.

  • Peer-to-peer loans: Borrow directly from a friend or family member.

  • Employer advances: Some companies provide salary advances in emergency situations.

  • 401k loans: Allows you to borrow against your own retirement savings.

Do your research to find the most affordable borrowing option for your situation. The right choice depends on factors like your credit score, the loan amount needed, and your repayment timeframe.

I hope this guide gave you a clear overview of Cash App‘s borrowing feature works, who it‘s suited for, and how to responsibly utilize these short-term loans.

Here are the key takeaways:

  • Cash App offers loans from $20-$200 to select users. Apply through the mobile app.

  • A 5% flat fee is charged with repayment due in 30 days. late fees apply if you miss payments.

  • Set repayment reminders and budget accordingly to avoid falling behind.

  • Only borrow what you can realistically repay on time to avoid spiraling fees.

  • Consider alternatives like credit cards if you need more affordable long-term financing.

With the right planning, a Cash App loan can provide quick access to emergency funds in a pinch. But make sure to educate yourself on the terms and utilize these high-cost loans selectively.

Let me know if you have any other questions! I‘m happy to help you navigate Cash App borrowing.

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