Check your Approval Odds* for a $300 loan

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How (and where) to get a $300 personal loan

Written by: David Heiling

Updated:

3 min read
This date may not reflect recent changes in individual terms.

Editorial Note: Intuit Credit Karma receives compensation from third-party advertisers, but that doesn’t affect our editors’ opinions. Our third-party advertisers don’t review, approve or endorse our editorial content. Information about financial products not offered on Credit Karma is collected independently. Our content is accurate to the best of our knowledge when posted.

A small loan may offer a temporary solution if unexpected expenses hit your budget. 

But it’s important to know that these loans may have expensive terms — even potentially costing you more in interest than the amount borrowed. Some of these loans can be called payday loans. Make sure to shop around and compare loan terms to make sure you’re getting the best loan available to you.

We’ll recommend some lenders to consider and provide alternatives to think about before committing to a small loan.

The best $300 personal loans

MoneyLion

 In addition to traditional personal loans, MoneyLion offers no-interest cash advances in small amounts, which can be useful if you need just a little bit to tide you over until payday. You’ll have to link your checking account to the app and you may have to wait to be eligible for the full cash advance amount available. There’s no cost to borrow, but you’ll have to pay a fee if you’d like your money delivered as quickly as possible.

Klarna

The Klarna app can be a good choice if you’d like to use a buy-now, pay-later app for an online or in-store purchase and pay it off in installments over time. But there’s no guarantee your purchase will be approved, and you can be charged late fees if you don’t make a payment when it’s due.

Oportun

Oportun might be worth exploring if you have bad credit (or no credit) and need a small loan (new customers may not qualify for large loans). Oportun offers prequalification so you can check your eligibility before applying. While you might qualify without having great credit, you’ll likely have to pay an interest rate on the higher end of Oportun’s rate range.

Navy Federal Credit Union

A Navy Federal Credit Union personal loan might make sense if you’re part of the military community. NFCU offers unsecured and secured personal loans, but you must become a member first.

How can I get a $300 loan fast?

If you need just a little bit of money fast, consider options like payday advance apps or buy now, pay later apps. These options differ from traditional payday loans. 

Payday advance apps could be useful if you need a small amount of money for utilities, food or bills and your paycheck hasn’t arrived yet. These apps advance a portion of your upcoming paycheck as an alternative to high-interest payday loans. The amount you borrow is typically automatically debited from your bank account linked to in app when your paycheck arrives.

Many payday advance apps don’t check your credit and charge 0% interest. However, some apps might require membership fees or other fees for instant access to funds. Payday advance apps also make money through optional tips, which could increase the overall cost of borrowing if you leave a tip.

Buy now, pay later apps offer installment-based loans at the point of purchase, allowing you to make an initial payment and then spread out the remaining cost over time, often without interest. These payment plans may be easier to qualify for than larger personal loans and typically don’t affect credit scores.

A payday loan can offer short-term flexibility without a credit check if you find yourself in a financial emergency. But payday loans should be considered as a last resort — they typically come with extremely high annual percentage rates (APRs) that can reach as high as 400%.

Payday loans are often $500 or less and require you to pay back the loan (plus any fees) by the time your next paycheck arrives. Some payday lenders may advertise same-day funding, but when you get access to funds varies by lender. 

Payday loans, payday advances and buy-now, pay-later plans should be approached with caution because of the potential fees involved. Be cautious about getting stuck in a continual cycle of borrowing or getting hit with late fees if you’re unable to pay on time.

If you’re frequently finding yourself waiting for payday, consider a side gig to supplement your income — you might be able to earn money in a day.

Small loan alternatives

  • Medical repayment plans/forgiveness: If you’re facing unexpected medical bills, you may be able to set up a payment plan with the hospital that gave you care. Underinsured or low-income patients may also have access to alternative repayment plans or other financial assistance. 
  • Charitable grants or utility payment plans: Depending on your circumstances, you may be eligible for an emergency assistance grant or loan. Your city or state may have hardship grants available to those in need. Consider exploring offerings in your area to see what kind of financial support is available. 
  • Payday alternative loans from credit unions: These small, affordable loans offered by some federal credit unions were established as a more affordable alternative to expensive payday loans. 

FAQs about $300 loans

Can I get an $300 loan with bad credit?

Yes, getting a small loan is usually possible even if you have bad credit. Lenders willing to loan small amounts to individuals with poor credit scores typically charge higher interest rates because they perceive these loans as higher risk. Other options to consider include payday alternative loans, buy now, pay later apps and payday advance apps.

What is the total cost of a $300 loan?

The cost of a loan depends on a few factors, including the interest rate, loan term and any fees assessed by the lender. Consider using a loan calculator to calculate monthly payments and total interest paid over the life of the loan.

Can I get an $300 loan without a job?

You may be able to get a small loan without a job, but lenders may still require proof of income. If you have regular income unrelated to a job, you can often include that in your application. Another option to consider is a secured loan. Secured loans are attached to an asset, like a house or a car, which allows the lender to take control of that asset if you’re unable to pay back your loan.

*Approval Odds are not a guarantee of approval. Credit Karma determines Approval Odds by comparing your credit profile to other Credit Karma members who were approved for the personal loan, or whether you meet certain criteria determined by the lender. Of course, there’s no such thing as a sure thing, but knowing your Approval Odds may help you narrow down your choices. For example, you may not be approved because you don’t meet the lender’s “ability to pay standard” after they verify your income and employment; or, you already have the maximum number of accounts with that specific lender.