How to Borrow Money from Cash App

Have trouble borrowing money from Cash App? If so, we have just the fix for you! Simply fill out our online form and borrow money from CocoLoan today!

Want to borrow more than $5,000? Click here!

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

If the borrow feature has not yet been made available to you, the problem is most likely one of the following.

  1. 1. You have installed Cash App only recently, or you have had the app for a long time but haven’t used it frequently. To resolve these issues, simply use the app on a regular basis to pay bills, fees, salaries, and other expenses.
  2. 2. You do not use the direct deposit option frequently or have not used it at all. To solve this problem, make a minimum deposit of $300 every month and unlock the borrow feature.
  3. 3. You were unable to provide adequate proof of identity, or your credentials could not be verified. This is not a big deal: Just resubmit your credentials with any additional documentation Cash App asks for.
  4. 4. You do not have a Cash App card. If this is the case, contact customer support and get one issued right away.

How Does Cash App Borrow Work?

Unlike loans from regular banks or lenders, those available on Cash App Borrow are small, ranging from $20 to $200. Its loan criterion is lenient enough for most people to qualify. The repayment term is quite short: It rarely exceeds 4 weeks. However, this period is sufficiently long to repay such small loans.

Cash App charges you for its lending service. The charges can be classified broadly into two categories.

  1. 1. There is a flat fee of 5%. Translating that into APR, it comes out to be 5 x 12 = 60%. This rate is considerably lower as compared to other major lenders who demand an average of 400% APR.
  2. 2. If you fail to make a timely repayment, a late deposit fine will be imposed at the rate of 1.25% per week.

Thus, borrowing money from Cash App is a great option for small, quick loans because its online service is not only fast but also reasonably priced.

How to Unlock Borrow on Cash App?

Unlocking the borrow feature on Cash App is not difficult at all. First of all, check the following prerequisites. The app requires them as proof of your credibility.

  1. 1. Provide your identification details.
  2. 2. Link your bank account and connected debit and credit cards.
  3. 3. Use Cash App to send, receive, and save cash in considerable amounts.
  4. 4. Use the Cash App direct deposit and deposit at least $200 a month.

Second, follow the procedure given below to activate the borrow function.

  1. 1. Open the Cash App on your smartphone.
  2. 2. In the bottom left corner, you will see your balance. Tap on it.
  3. 3. Tap on “Banking”.
  4. 4. Look for “Borrow” in the list and select it.
  5. 5. Tap on “Unlock”
  6. 6. The process may take a short while after which you will be informed how much you can borrow at the moment

Provided that you meet all their requirements and go through the steps mentioned above, unlocking the borrow feature is pretty straightforward and hassle-free.

How to Borrow Money from Cash App?

Once you have unlocked the borrow option, applying for a cash advance through Cash App is barely a 5-minute process. Just follow the steps given below. (They are very similar to the procedure you have already followed to unlock Borrow.)

    1. Open Cash App.
    2. Tap on your balance in the bottom left corner.
    3. Navigate to the “Banking” section.
    4. Click on “Borrow”.
    5. Cash App will let you know how much you can borrow.
    6. Put in the loan amount.
    7. Select the repayment plan that suits you.
    8. Read through the terms of the agreement carefully.
    9. Select “Accept”.
    10. Receive your Cash App Advance in your bank account.

    Is Borrowing Money from Cash App Safe?

    Cash App is owned and managed by the financial company Block, formerly known as Square. It claims to prioritize the safety of its users and implement strict cybersecurity measures which include the following.

    1. 1. All transmitted data has multi-layered encryption strong enough for Cash App to claim PCI Data Security Standard Level 1 certification.
    2. 2. Two-factor authentication is available for verifying the user's ownership of the account.

    However, on April 4th, 2022, Cash App security was breached, affecting more than 8 million users. The culprit was a former employee who had downloaded reports that contained account numbers, some portfolio values, and trading data. The full extent of the damage is still unknown.

    To prevent your info from getting into the wrong hands, you can take the following measures.

      • Set an extra Security Lock or Touch ID.
      • Avoid storing large sums in Cash App because this money is not federally insured.
      • Steer clear of scammers claiming to be customer service representatives.

      Alternatives to Cash App Borrow

      Although Cash App is a decent mobile payment service, there are other options you should consider before applying for Borrow. Some of them are as follows.

      Credit Card Advances

      If you have a credit card, you can simply borrow an amount within your credit limit. This amount can be repaid when your credit card statement arrives. If available, this form of loan is the best because there is no interest on it if you repay on time.

      However, if you end up borrowing a large sum that you cannot repay on time, you will be charged high-interest rates and it will severely affect your credit score. A low/bad credit score will make it very difficult to get a credit card advance again.

      Credit Unions

      A credit union is a non-profit that gives out loans to its members at low-interest rates. In simple words, the members put some of their money in a “pool”. When one of them needs a sum, it is taken out of that pool. The interest is used to run the union and is not taken as profit.

      There are certain membership requirements if you wish to join a credit union: having a relative as a member, living in a certain area, working for a specific employer, being part of a certain labor union, school, etc. Moreover, the offers are limited as compared to larger institutions like banks.

      Online Lenders

      If you want to borrow a large amount with a long repayment term, the internet is probably the best place to look for a lender. There are many loan brokers, such as CocoLoan, who can help you get in touch with reliable lenders from the comfort of your home.

      Typically, you can get free offers from lenders and select the one that meets your needs. Furthermore, many online lenders will not conduct a hard credit check. This is the ideal option for those with bad credit history.


      Borrowing from banks is as traditional as loans get! In comparison with all other loan platforms, banks are the best in terms of scale, loan range, loan types, and reliability. You can opt for personal loans, auto loans, mortgage products, construction loans, title loans, home loans, and much more.

      However, the application fee and charges for their services are often high. Banks are for-profit institutions, so a part of your loan payment goes to their shareholders. Thus, the interest rates are usually significant.

    1. Fast and Easy Loans You'll Need

      Apply Now
      default img

      How to Borrow Money Through CocoLoan?

      CocoLoan is one of the online loan brokers in the US. With many great consumer reviews and 5-star ratings, CocoLoan is sure to be just the right place to get a quick and sizable loan. Regardless, CocoLoan’s network of lenders is reliable and very borrower-friendly. You are sure to borrow money online instantly!

      Applying for a loan is done in 5 easy steps:

      • 1. Select the type of loan and the amount you need.
      • 2. Fill in your details and submit the application form.
      • 3. Get offers from lenders after your application has been processed. The application process takes no longer than 10 minutes and is designed to be straightforward.
      • 4. Select the offer you like and sign the agreement.
      • 5. Receive the money within 1-2 business days.


default img
default img
default img

Try CocoLoan If You Have No Borrow Feature on Cash App

CocoLoan aims for customer satisfaction and provides only the best lending services to them. Hop on over to our website and start the application process now!

Try Right Away