Did the US policy of cash and carry favor the allies?

Cash and Carry was a policy used in the beginning of WW2. Roosevelt did not want to get into the war because of the previous effects of WW1. Therefore, he offered to sell European countries involved (mostly the Allies) any resources they needed as long as they paid in cash, and carried them themselves as to not cause harm to America in the transport. Therefore, it was deemed the Cash and Carry policy.