How To Borrow Money from Cash App & Unlock $200 Loan Feature Now! (2022)

⚡ To get the Cash App borrow feature, you need to meet the loan requirements, including following the steps to unlock the borrow money feature and then access the Cash App loan option for up to $200 in instant funds.

Don’t have the borrow feature on Cash App?

No problem – I’ll show you how I unlocked it and how to borrow money from Cash App too.

Cash App, the mobile payment app from Block (previously Square), has a new borrowing feature that lets you get up to $200.

Here is a quick overview of the Cash App loan:

📅 Repay In4 Weeks
💰 Borrow Up To$200
💸 Receive FundsInstantly
🏦 Loan Fee5% Flat Fee
Required18+ US Resident
How To Unlock6 Steps to Borrow
⚠️ IMPORTANT: Cash App borrow is only available to a select group of people during the testing phase. If you don’t see the option in your account, I suggest moving on to this highly-rated Cash App borrow alternative. I have been using the Albert app for over two years for instant $250 cash deposits to my bank account. Plus, they have no credit checks, zero interest fees, and instant approval! Update: Albert has a free $150 sign-up bonus during November!

If you need some quick cash in an emergency, the Cash App mobile application is an excellent option for getting access to funds without jumping through hoops or resorting to high-interest loans.

This article will walk you through how to borrow money from Cash App and why so many people use it.

If you are entirely new to Cash App, you might want to start by reading our how-to-use Cash App guide.

It’s never been easier to borrow money from Cash App!

So, let’s get started!

Why Don’t I Have the Borrow Option on Cash App?

This Cash App loan option is not available to everyone.

You must first meet a set of requirements to unlock this loan feature, which is similar to a payday loan but better.

Don’t worry!

You can quickly meet all the requirements by following the six steps below to borrow money from Cash App.

Cash App Loan Requirements

Due to the testing phase Cash App borrow is in, these requirements frequently change.

Here are the most important requirements to qualify for a Cash App loan:

  • Regular automatic deposits of at least $1,000 per month
    • UPDATE: Some users report that direct deposit is required, and others say it’s not required. In our experience, it’s not required.
  • Must be 18+ years old and live within the United States
  • You need to have good credit to be approved for this loan
    • UPDATE: Some users are reporting a credit check is not required (however, the terms of service say a credit check may be required).
  • Must repay the loan on time to continue using the Borrow feature

What to do if you don’t meet the requirements? If you don’t meet the requirements, we suggest looking at an alternative loan app below.

If you meet these requirements, read on to find out how to unlock the Cash App loan feature for iPhone or Android.

6 Steps to Unlock the Borrow Money Feature from Cash App

Cash App Borrow Feature

Follow the six-step process below to borrow money from Cash App for iPhone or Android.

You’ll be able to borrow $20, $100, or even up to $200 once you complete the Cash App loan application.

The loan application takes only 3 minutes to complete. (Note: It’s quick & easy)

Step 1. Sign Up or Open Cash App & Log In

First, you’ll need to open Cash App.

If you don’t have an account yet, you can sign-up with Cash App and get a $5 free money bonus with referral code: CTCJLPG.

Referral Code
Enter Code Then Send $5
(click/tap to copy)

Sign Up or Login To Cash App Steps

Note: During the sign-up process, verify your identity with Cash App.

So, can you have 2 Cash App accounts? That would be a yes.

According to an official representative, Cash App users can have two accounts if they use a different email & phone number.

Step 2. Set Up Cash App Direct Deposit (Optional?)

Next, you’ll need to set up your deposits with your Cash App account.

  1. Go to the “Banking” tab (at the bottom left) in the Cash App menu.
  2. Tap on “Direct Deposit.”
  3. Now select “Get Started” and follow the on-screen prompts.
Set Up Direct Deposit Steps

NOTE: Borrow customers are reporting that having a direct deposit is not required to borrow money from Cash App, but it can help your chances of unlocking the feature.

Step 3. Start the Cash App Borrow Loan Process

Now you should be able to access the Borrow feature by going to the “Banking” tab on the Cash App menu and scrolling down until you see “Borrow.”

Start the Cash App Borrow Application Process

If you don’t see the borrow option here, see what to do below.

Step 4. Request Borrow Amount

Tap the amount of money you need (up to $200), tap “Request,” then “Confirm.”

Request Borrow Amount Steps

Step 5. Decide How To Repay Your Cash App Loan

The options to repay are: as you get cash, four weekly payments, or all at once.

These are better options than other, more strict payday loan alternatives that force repayment with your next paycheck and without a loan grace period.

Cash App loans are NOT the same as payday loans, though (they’re much better).

Decide How To Repay Your Cash App Loan Steps

The option of 4 weekly payments is the most common, but the all-at-once option is also nice because you make one payment to pay off the loan at the end of the four weeks.

TIP: The app accepts loan payments ahead of schedule. You can pay off the loan early and reduce the 5% loan fee!

Step 6. Accept Loan Terms & Borrow Money Instantly

Once approved, the money will be available instantly in your Cash App wallet (Note: Cash App will send an email/notification with a link to make the first payment).

Accept Loan Borrow Money Instantly Steps

Wondering how long it will take to be approved?

Usually, the decision comes back instantly. More about this is below.

Don’t See the Cash App Borrow Option? Here’s What To Do!

If you follow the steps above and still don’t see the Cash App Borrow option, we suggest you use your account frequently (it’s much more important than your credit history).

Cash App is opening up access to more people who use the app a lot (the best Cash App users!).

Many borrow customers report that the one thing they have in common is the frequent use of the app.

How to Increase Your Chances of Getting Cash App Borrow

Here is a list of the top things to do to increase your chances of getting Cash App Borrow:

  • Use the free Cash App card for bills and everyday purchases
  • Send and receive money from friends and family as often as possible
  • Set up direct deposit with your employer
  • Use the app as frequently as possible – this seems to be the most important factor

I suggest getting the free Cash App Card to pay for bills and everyday purchases. 

It also helps if you send and receive money from friends and family. 

Getting a direct deposit from your employer is another thing that might help.

Following these suggestions for the next 30-60 days could help unlock the Cash App borrow option.

TIP: If you get the Cash App card and set up direct deposits, Cash App users could be eligible for a $50-$100 cash card boost when they receive at least $300 in deposits. More about that here.

Best Cash App Borrow Alternative with No Credit Check

Cash App Borrow didn’t work for you?

There are still options available to you to borrow money online, similar to Cash App borrow.

9 Borrow Money Apps Tested – Here are the results!

In my quest to find the best money-borrowing app, I tested Albert, Cash App, Dave, Earnin, Brigit, Truebill, MoneyLion, Current, and Chime.

After testing these nine different apps, I can only recommend one app, the Albert app.

Why did I pick Albert over the competition?

Albert had the following advantages over the other borrow-money apps:

  • Fastest sign-up process
  • The lowest requirements for approval
  • Highest borrowing amount at $250
  • Most flexible repayment options
  • Zero interest fees and no credit checks.

These alternative options will also work great if your Cash App borrow has ended or the feature is gone.

1. 🥇 Albert – Fast Sign-Up & Instant Funds up to $250 (Plus a $150 Sign-Up Bonus)

A screenshot of the Albert app's instant loan feature

The Albert app is one of the best ways to borrow money online right now and is a highly-rated & trustworthy financial app.

If you sign up for Albert and set up a direct deposit, you’ll get a $150 bonus!

  • Zero late fees, credit checks, or interest
  • Instant, short-term loans up to $250
  • Free cash account (no ChexSystems or credit check required)
  • Automatic Savings
  • Bill negotiation and subscription monitoring

How Does Cash App Borrow Work?

Cash App’s new feature is a quick and easy way to get up to $200 in immediate funds without the hassle of visiting your bank or credit union.

The best part?

Cash App Borrow doesn’t require any collateral, so you don’t have to worry about losing anything if you can’t repay it as promised!

This feature is similar to taking out a loan but is not a good solution for long-term loans.

cash app borrow money scaled 1

You should expect to pay this back within four weeks to avoid extra interest charges.

But can you borrow money from Cash App?

Let’s take a look at the terms of the loan.

What Are the Terms of the Loan?

Here are the terms you need to know before accepting a loan with Cash App.

  • Receive funds instantly
  • Pay only a 5% flat fee (no hidden charges)
  • Repay in 4 loan payments within four weeks (repay early with no extra charges)
  • Must have direct deposit set up (not required)

According to Cash App, overdue interest accrues only if you do not pay your loan by the due date.

Interest will begin accruing on any unpaid Borrowed Amount after the Due Date and will continue to accrue every week until the Payoff Amount has been paid in full.

Here’s How You Can See If You’re Eligible to Borrow Money:

  1. Open your account by tapping the Cash App balance tab on the bottom-left screen. The amount will vary depending on your current account balances.
  2. Now click the Cash App “Borrow” button once it opens up for more detail and information about how much money you can borrow from Cash App.

Don’t see this borrow money feature available in your account?

Make sure you follow the five steps listed above for ways to unlock this feature to borrow money.

How Long Does It Take to Get Approved?

Approval time depends on your bank, but they aim for approval in less than a minute!

Remember that Cash App Borrow is best used as an emergency fund and is not intended as a long-term financial solution.

Contact your bank for a more standard loan if you need more cash than the maximum amount you can borrow.

More information about the Cash App Borrow feature can be found here.

How Do I Repay Cash App Borrow?

There are three flexible options to make payments to Cash App Borrow.

Here are the repayment options for the loan:

  • As you get cash – When you get money in Cash App, a small amount will be set aside for your loan until it’s paid off
  • Four weekly payments – Pay one-fourth of the total loan each Friday, starting the next Friday.
  • All at once – Pay the full balance off by the due date at the end of 4 weeks.

You can pay in full early with no penalties or fees.

The only fee you’ll incur is 5% for the entire term of the loan or 1.25% per week as long as you repay it on time.

You can check your balance using your account’s Cash App balance tab.

What If I Need More Than $200?

Currently, you can borrow $200 from Cash App as a hard limit.

There are no exceptions to this rule.

If you need more cash than the maximum amount you can borrow, contact your financial institution (bank or credit union) for more options for personal loans.

Alternatively, if you have a friend or family member willing to help you, you can use Cash App to borrow the money.

Go here if you want to see how to send money to someone.

What is the interest rate to borrow from Cash App?

The interest rate on Cash App is a flat fee of 5% on the amount you borrow.

However, over 12 months, this adds up to 60%, but that’s still less than you’d pay with payday loans.

We recommend only using Cash App for short-term loans.

TIP: If you’re a new user, check out our Cash App referral code hack to earn an extra $20 referral bonus.

How Long Will It Take to Receive My Cash?

Depending on where you live in the US, you can expect your money within minutes of requesting it.

Decisions are typically instant, and the money is released to you upon approval.

Does the Cash App Borrow Loan Affect My Credit Score?

Once you fully submit your loan application, it will result in an inquiry on your credit report that might affect your credit score slightly.

Like any credit inquiry, you may have a slight impact that will typically fall off your credit report within a few months.

You may want to consult your financial advisor to get a clearer picture of how this will affect your credit score.

Late payments, missed payments, or other defaults on your Cash App loan may be reflected on your credit report.

So, does Cash App borrow build credit?

No, the Cash App borrow feature does not help build credit.

According to the terms of the service agreement, they do not report on-time payments to any credit agencies but report late payments.

How Often Can You Borrow from Cash App?

You can borrow as often as you need to from Cash App.

You must pay off your first loan before taking another one.

If your first loan were not the maximum amount you can borrow, you would be able to take out another loan for the remaining amount.

What Happens with Missed or Skipped Payments?

If you chose an optional weekly schedule, there’s no fee for missed or skipped payments as long as you’ve paid off your total payments by the final due date.

If you have not paid off your total payments by the final due date, then Cash App will charge you non- compounding 1.25% interest each week until it is paid in full.

Cash App Borrow Grace Period

Does Cash App borrow have a grace period?

Yes, you will be charged 5% of the loan balance for the first four weeks, followed by one-week grace periods that begin to accrue an additional 1.25% interest until the loan is paid in full. 

Why Can’t I Borrow Money from Cash App?

This is an excellent place to start if you are trying to figure out why you don’t have the borrow feature.

If you see the message “you’re not able to borrow at the moment,” there might be an issue with your account.

Here is a list of the reason you might not be able to borrow money from Cash App:

  • You are under the age of 18
  • You don’t have at least $1,000 in deposits each month
  • Your account is not in good standing with Cash App
  • You were involved in a scam
  • Live outside the United States
  • You don’t have a fully verified account with your identity and SSN
  • You Cash App is not updated to the latest version
  • You might have a negative balance

Before you borrow money from Cash App, we suggest reading the legal agreement first.

Is Cash App a Trustworthy Company to Borrow From?


Yes. Cash App (Block Inc., formally Square Inc.) is a trustworthy company to borrow from and has never had an issue in the past with them or anyone I’ve known borrowing money through it.

In fact, Cash App is much more trustworthy than most other companies that offer payday loans.

I recommend this Cash App loan feature to anyone who needs emergency funds and doesn’t want to go through a bank or credit union.

I would not recommend this method if you need more than $200 in cash.

Cash App is a very trustworthy company, though.

Remember, their parent company is Square, Inc., which deals with payment transactions for business owners, and they’re a trusted name in the financial world.

You can even use Cash App to send Bitcoin!

Bitcoin restrictions are pretty careful, so this also speaks to their legitimacy.

Is Cash App Borrow Good or Bad?

It depends on how you look at it.

On the one hand, the service is very convenient for current Cash App users. However, it’s also not widely available to everyone.

On the other hand, the service is minimal and may result in an inquiry on your credit report causing your credit score to drop slightly.

Most users of the Cash App are reporting a positive experience using the app.

That includes me, as I’ve been using borrow for about three months now and like it.

The biggest drawback compared to other apps is the interest fee. While it’s not as high as some apps, there are alternatives with zero interest fees.

Cash App Borrow Loan FAQs

Can I Use Cash App Borrow If I Have Bad Credit?

Yes, you can still apply for and use this loan feature even if you have bad credit (low credit score). Cash App has stated within their Terms & Conditions that they may check your credit history before extending a loan agreement, but users have reported this is no longer their practice. Your Cash App usage is much more of a factor, such as using your cash card, not having a negative balance in your Cash App account, utilizing the account features regularly, etc.

I Don’t Have the Borrow Feature on Cash App Yet

How to get borrow on Cash App has been a popular question for many users. Because Cash App is testing this feature with a select group of people, the feature may not be available to everyone. To increase your chances of unlocking this feature, you need to be a frequent user of the app, and we recommend setting up a direct payroll deposit with your employer. These steps should help with the I don’t have the borrow feature on Cash App issue.

How to Unlock Borrow on Cash App for Existing Users

How can I borrow money from Cash App if I see the unlock button in my account? You can use Cash App to borrow money for a short-term loan. Tap on the unlock feature and follow the on-screen prompts, which will show you how to unlock borrow on Cash App.

Why Won’t Cash App Borrow Money to Me?

How to get Cash App borrow is a hot topic right now. However, they have not fully revealed the criteria for selecting people to join the Cash App borrow testing phase. You’ll need to wait to borrow money if you don’t see the option in your account.

How to Borrow Money from Cash App on iPhone

Do you have an iPhone and are wondering why don’t I have Cash App borrow? How to borrow money from Cash App 2022 is in a testing phase with iPhone and Android users. You’ll need to meet the requirements as stated throughout this article.

Has Your Cash App Borrow Ended?

If you had previous access to Cash App borrow, but the testing flight has ended, you’ll need to find an alternative to borrow money. We suggest using Albert, an excellent alternative to Cashapp borrow.

Cash App Borrow States Availability

Cash App borrow in what states? Currently, the only US states we know that Cash App is testing in are Texas and California. There might be more, but that is all the feedback we have gathered. Florida is a state many people have been asking about, but we do not have any confirmation on this state yet. Please comment below what states you have Cash App borrow availability.

Need a Cash App Borrow Limit Increase?

If you already have Cash App borrow, but you need a limit increase for a higher amount, you’ll need to complete smaller loans to increase your limit. For example, if you started with a limit of $20, then borrow that amount and immediately pay it back. You’ll see a higher limit increase for your next loan when you borrow again.

What Cash App Borrow Credit Score Is Required?

We don’t know the exact number, but it’s safe to say if you have a 680 or above, you have a better chance of getting approved for a loan with Cash App.

Cash App Declined Loan, What to Do

Your only option is to ask for feedback from Cash App and try to improve that aspect of the loan. Most likely, it’s due to your credit score or account standing with Cash App.

Cash App Borrow Gone, Disappeared, or Not Available?

Because the borrow feature is in beta testing status right now, you might not have access to the option at all times. This means you may see the feature is not available to you. There is no way to know a clear answer as to why the Cash App borrow feature is gone or disappeared from your app. I would suggest using a more dependable alternative like the Albert App.

Cash App Borrow Eligibility

Is Cash App borrow for everyone? No, if you get a Cash App borrow email or a notification on your phone stating you are eligible to try the new Cash App borrow feature, you are one of the lucky few to test the new service. How to borrow from Cash App? Now you can open the app and enable Cash App borrow.

What’s the Highest Cash App Borrow Limit?

The highest amount you can borrow from Cash App is $200. Most users who do not get the maximum limit initially must establish a repayment history with a smaller sum to get a higher $200 limit increase.

Does Cash App let you borrow money?

If you have the borrow feature available on your account, then you will be to borrow money from Cash App.

How do I borrow 200 from Cash App?

To borrow the maximum amount from Cash App, you’ll need to have a borrowing history with the app to build up your borrowing power.

Is there a $100 Loan Instant App No Credit Check?

Yes, you can use the Albert app to get a $100 loan instant app with no credit checks. You simply need to sign up and take out a $100 loan instantly.

James Allen is a Certified Financial Education Instructor (CFEI), financial advisor, and Certified Public Accountant (CPA).

He created BillPin to give people the financial tools they need to make more informed financial decisions.

After listening to his mother tell stories about her frugal upbringing and his own experiences working as a financial advisor for almost two decades, James is on a mission to help people change their relationship with money.

6 thoughts on “How To Borrow Money from Cash App & Unlock $200 Loan Feature Now! (2022)”

  1. Both my sister and I use cash app here in Tennessee- crazy part is I have the borrow option and she does not even though she is the one with direct deposits from a steady job.

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