Block received approval from the Federal Deposit Insurance Corp. to offer a consumer loan product that is designed to provide consumers with short-term cash flows. Under the program, Cash App Borrow,

Block (XYZ) announced its industrial bank, Square Financial Services, has received approval from the Federal Deposit Insurance Corporation to

The expansion of Square Financial Services, Inc. to offer small, easy-to-repay consumer loans to Cash App customers will continue to drive economic empowerment to consumers. Cash App Borrow is designed to provide short-term cash flow in a simple and accessible way when alternatives are notoriously expensive and difficult for consumers to navigate.