Square Cash App can now help you get financial aid. If you are looking to avail of this new Cash App borrow feature, it is a good idea, and you're not wrong to think so. But, the real question is: is whether you can get a Cash App loan and how can you avail of the Cash App Borrow feature. What do you need to do to apply for a Cash App Loan? Cash App users often have questions about Cash App Borrow feature. Hence, We thought it would be a great topic to write about this.
What is the Cash App Borrow Feature? : An Introduction to Cash App Borrow Testing Feature
Cash App made a significant breakthrough last year when it completed the trial for the loan feature. Cash App users have now been allowed to borrow money. Though Online borrowing is possible in many ways, Cash App has a different loan feature.
Cash App, a peer-to-peer payments system from the square, allows select users to get a short-term loan. The Cash App indicated that it is currently only testing the feature on around 1,000 users. But it could eventually become more widely accessible.Given the state of the U.S. and the global economy and the uncertainty regarding further stimulus plans, many people could probably benefit from this borrowing feature.
Cash App offers loans for any amount between $20 and $200. (Multiplied over a year, that turns into a 60% APR - which sounds high, but at least it's significantly lower than the average payday loan.) You'll be expected to pay the loan back in four weeks, along with a flat fee of 5%.