Cash App had 60 million monthly transacting users in September, and its parent company says the average Cash App Borrow limit will grow over the next several years. That plan sits inside the third-quarter shareholder letter Block filed with the Securities and Exchange Commission on Tuesday, along with a test that would let customers reach their pay before payday even if their employer has no tie to Cash App.
Block, which also owns Square and Afterpay, beat its own forecast for the quarter and raised its outlook for the year.
What changes for Cash App users
For Borrow, the app's short-term loan feature, the average limit in September was $300, while the highest limit Cash App offers is $1,500, according to the letter. Block expects to raise average limits "as more customer cohorts mature and our proprietary data compounds," and says it sees room to widen eligibility as well. It did not give a schedule or new limits.
Paychecks are the other focus. Cash App has begun testing ways for customers to get their pay as they earn it rather than waiting for payday, "whether or not their employer works with us." Since September, a Workday partnership lets eligible employees pick Cash App for direct deposit while they sign up for payroll. Block also says it plans to make direct deposit easier to set up and to change Cash App Green so customers get more benefits as they move more of their money into the app.
Block estimates that about 70% of monthly users earn money through some mix of freelancing, content creation, and hourly or gig work. For them, it is piloting Earn in P2P, which it calls "a no-fee way to accept payments" and track earnings inside Cash App.
The data Cash App uses to approve loans is also going outside the app. Cash App Score, Block's underwriting model, will be offered to other lenders through Nova Credit, and Block expects more partners.
How Borrow works now
Cash App's Borrow page says most people become eligible after depositing $300 or more in paychecks each month, or by linking an outside account that receives at least $500 a month. Borrow charges a flat fee, and Cash App says it does not check credit scores or report loans to the credit bureaus. The feature is not offered in Colorado, Iowa or Oregon, and the loans come from Square Financial Services, Block's industrial bank.
The numbers behind it
Block's gross profit rose 22% to $3.24 billion. Cash App accounted for $2.07 billion of that, up 27%, while Square brought in $1.16 billion, up 14%. Earnings came to 92 cents a share, or $1.13 on the adjusted basis Block reports.
For all of 2026, Block now expects $12.626 billion in gross profit. Its fourth-quarter forecast is $3.315 billion, and it will report those results on Feb. 24, 2027.
