The Cash App Borrow Feature Works

Short-term loans of the Cash App Borrow variety are made available through the Cash App platform. The process is as follows:

You may be able to borrow anywhere from $20 to $200 if you qualify.

After that, you have four weeks to repay the loan plus a flat cost of 5%.

This 5% fee results in a total APR of 60%. When compared to payday loans, which often have an average APR of close to 400%, this is an excellent value. However, it exceeds personal loans, which are legally limited in most jurisdictions to interest rates of no more than 36%.

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