Is Cash App Borrow not working for you? There are several different reasons why someone is not able to get a loan. In this article, we are going to discuss all of the reasons which can stop you from getting a short term 200$ loan on the Cash app.
Reasons Why Cash app borrow not Working for You
Cash app provides a loan facility and using this “Borrow” feature you can get a short-term loan of up to $200 easily anytime, directly from the mobile app.
Suggested: What’s going on with the Cash app?
Getting a loan using the cash app is a simple and straightforward process, and if you are eligible you can easily borrow the loan and payback within the scheduled time.
The amount you can borrow is not fixed it could be anything in between $20 to $200. However, it doesn’t offer an amount higher than $200 at any given time.
The loan borrower will get 4 week time to pay back that. If they are not able to pay back within 4 weeks they will also get one additional week “Grace period” to pay the amount with added interest and charges.
You can look if this features is available for you or not by navigating to Cash app > home Screen > Banking header > Check for word “Borrow” > Unlock > Choose the amount and repayment plan.
Once you accept the repayment plan and proceed to get a loan, the loan amount will be deposited in your account shortly after.
But what if the Loan facility is not working for you? here are a few reasons why you are not able to get loan from the cash app –
You are not eligible for the loan
This short-term loan facility is not available to all cash users, Only eligible users are able to borrow money.
To be eligible for borrowing money, besides having a good credit history and meeting the basic requirement of being at least 18 years old, you must also be a frequent user of this application.
Additionally, it is recommended that you activate the ‘Cash Card’ feature to be eligible for this service.
The borrow feature is not available on your Geo-location
Cash app is available all over the united states, but it doesn’t mean that “Borrow money” is also available in all of the states.
There are some states where the borrowing money feature is simply not available to users.
For now, it is only available in – Alabama, California, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Louisiana, Michigan, Mississippi, Missouri, North Carolina, Ohio, Tennessee, Texas, Utah, Virginia, and Wisconsin.
Cash App is having some technical difficulties
If you have read my previous article – Cash app Payment stuck on Pending, you already know that Cash app is no stranger to technical glitches, issues, and bugs.
In fact, if you are able to see the option to borrow money, but are still unable to get a loan, it is likely that this could be due to some technical difficulties.
When you have Cash app not working issues, you can contact support for more information on the issue.
Suggested: Cash App Payment stuck on Pending
You defaulted on your previous loans
If you haven’t paid your previous loan on time, it is likely that the cash app will not provide you with new loans again anytime soon.
The borrower who already gets the loan from this app knows that it charges you a 1.25% finance charge per week if you have any outstanding charges on your account.
They also have the right to deduct the loan balance from your account.
So overall, if Cash App borrow not working, first you have to understand the exact reasons why it is not working for you.
