How to Borrow Money From Cash App? Process To Get Loan From Cash App

If there are times when you need an advance before you get your paycheck, Cash App loan money could be a lifesaver. After all, sending and receiving money from the peer-to-peer payment service is so simple. The good news is, Cash App borrow has rolled out a Borrow feature to a limited numb

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Does Cash App Let You Borrow Money?

Yes, Cash App makes loans of $20 to $200, according to a 2020 TechCrunch article. Cash App tested the Borrow feature with a limited roll-out to 1,000 users. While the company hasn’t disclosed the status of that testing, the app does note that Borrow is still not available to all customers. Whether or not a particular customer can use the feature depends on:

  • The state you live in
  • Whether you have an activated Cash Card
  • Your Cash App usage history
  • Your credit history

TechCrunch noted that loans funded quickly and required you to pay them back in four weeks or less. But carrying a balance so long can add up — at the time the TechCrunch article was published, Cash App reportedly charged a 5% flat fee to borrow, plus another 1.25% per week after the grace period.

As long as you go into it knowing that a Cash App Borrow loan is best for quick repayment, the new tool — if it’s available to you — could be helpful when you’re short on cash.

A Better Way to Bank

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