EASY: How to Borrow Money from Cash App

How to Borrow Money from Cash App

If you use the Cash app and find yourself in financial trouble, there may be a short-term solution.

Cash App is something I recently discovered when I was researching various PayPal alternatives. It was fun to find out that in the early days you could get free money very easily on Cash App like PayPal.

Then I found out about all the fun boosts, contests and other interesting changes they added to a payment platform. I agree that a lot of them can just be a distraction, but if you use the app as your main payment platform, you’re better off without these boosts and contests.

That said, one feature they introduced last year that caught my eye was the ability to borrow money. Sometimes your finances get a little messy, especially if you are paid bi-weekly, which is why so many fintech companies offer paychecks up to 2 days in advance.

Cash App Borrow  the way by offering short term loans (not cheap but accessible) to eligible users:

How Much Does a Cash App Loan Cost?

Before we talk about how to achieve this, we need to address the costs. Loans, especially short-term loans, are going to be very expensive. The companies that issue them know that their customers are in trouble.

With Cash App, a loan requires you to spend 5% of the loan balance immediately and then 1.25% per week after the loan and grace period. You have four weeks to pay off your loan, followed by a one-week grace period before the 1.25% interest rate begins. This interest is added to the amount you need to pay each week.

In terms of fees and cost, it is cheaper than a title loan or payday loan, but you are limited by how much you can borrow ($200). (More importantly, if you have an existing loan you cannot get another loan)

If you compare it with some of the popular cash advance apps, it’s cheaper because many of them don’t charge you for the loan, but do require a monthly subscription fee.

The Cash App is really meant as a great short-term fix for minor emergencies that come before your next paycheck. If you need more money or for a longer period, it is often better to take a personal loan as you can borrow more and sometimes, at lower rates.

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How to Borrow Money from Cash App Borrow

Not everyone has access to Cash App Lending, follow these instructions to see if you do:

  • open cash app
  • Click on your account balance in the bottom left (if you don’t have a balance, it looks like a house)
  • This should take you to the banking section, now look for “Borrow…” (it has a blue arrow icon)
  • If you can’t find it, you don’t have access (more below). If you do, you can take out a loan.
  • Tap on “Unlock”.
  • Cash App will indicate how much you can borrow ($20 to $200 depending on your regular deposit)
  • Read the agreement (borrowing loan agreement) carefully, then accept the loan if you want.

How to Get Access to Cash App Borrow

Cash App Lending is available for those who make regular deposits in their Cash App account. The more you deposit regularly, the more you are eligible to borrow through Cash App Lending.

The maximum loan amount available is $200 if you deposit at least $1,000 per month into your Cash App account.

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Should You Borrow from Cash App?

If you need a little cash quickly, this is a great option. If you only need a few bucks, the cheapest option is to borrow money from friends and family.

But sometimes you can’t ask to borrow money or you feel bad. Cash App only offers up to $200, so while it’s not an overwhelming amount, it could be something you can lend without difficulty.

If you don’t have that as an option, borrowing the full $200 from the Cash app only costs you $10. On a percentage basis, it is higher (5%), but not on a dollar basis. If you’re in a jam, it’s helpful to know that you can get $200 for just $10 right now.

Alternatives to Borrowing from Cash App

Cash App is a good short-term option with limited costs (5% of max $200 is $10) but there are options if you need more money, have exhausted your Cash App options, or need more time. .


Cleo is a personal finance app where you can link your bank account and it analyzes your transaction history to suggest what you can do to improve your finances. Unlike the other options on the list, it’s free.

Clio can also help you build credit with their Credit Builder product, which can improve your options in the future if you need to depend on your credit.

First timers will get between $20 and $70 when you first use it, but when you pay off that first loan, you can get up to $100 on subsequent loans.


Albert’s is a fintech company that provides banking services through Sutton Bank, a member of the FDIC. They offer cash (checking) and save accounts when you direct deposit your paychecks, even including an advance of up to $250 on your next paycheck. You’ll need to use their Genius account, which operates on a “pay what’s fair” model, for their membership fees (including paying $0).

For a limited time, you can get Albert’s is offering a new account promotion where you can get $150 cash when you receive a qualifying direct deposit of at least $200 and every 30 days for 90 consecutive days To spend at least $100 on goods and services. Your Albert Debit Card.


Brigitte is not a payment app like Cash App, but a holistic personal finance app that helps you earn more money through side hustle, analyzes your accounts to provide limited financial plans, and a premium Service ($9.99 per month) that includes a cash advance of up to $250.


Empower is another finance app that also has a paid subscription of $8 a month but there is no charge for the cash advance. If you qualify you can get up to $100 on the first day.

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Anything else I should know?

If you already have a Cash App loan, you cannot get another loan. You have to repay the first loan before taking the second loan. Many short-term lenders prey on consumers who need to roll over their loans because they can charge them more. Cash App doesn’t let you do that.

If this describes you, then you have to go with one of the options listed above.

If you make a regular deposit but still don’t have access, they decided not to give it based on your history. You can call customer service to see if they can share more about why you don’t have access.

Cash App Lending Loan is not for long term solution. The low limit ($200 max) and short time frame (four weeks + a one-week grace period) mean it’s best used when paycheck and billed time get a little out of sync.

It’s good to have an option that is easier than going the route of a more traditional loan. To gain access though, you’ll need to make sure you have a regular deposit of at least $1,000 to get the full $200.


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