What Is a $300 Loan?
A $300 loan is our smallest amount — sized for a single, small unexpected cost, like topping up a bill before payday or covering a minor repair. It's typically the fastest amount to get approved for, since the total exposure for a lender is low. It's one of several loan amounts we match, from $300 up to $5,000.
Who a $300 Loan Is For
- Covering a shortfall on a utility or phone bill before your next paycheque
- A minor car repair or replacement part
- Bridging a few days' gap between paycheques
- A small emergency purchase you can't put off
Eligibility Requirements
- 18 years or older (19 in BC, NB, NL, NS, NT, NU, and YT)
- Canadian citizen or permanent resident
- Valid Social Insurance Number (SIN)
- Active bank account in your name
- A regular source of income
How Much Will a $300 Loan Cost?
APRs across our lender network range from 5.99% to 34.99%, depending on the lender, your credit profile, and provincial regulations, in compliance with Canada's federal criminal rate of interest. Here's an illustrative example at a representative rate:
| Term | APR | Est. Monthly Payment | Est. Total Repayable |
|---|---|---|---|
| 3 months | 29.9% | $105 | $315 |
| 6 months | 29.9% | $54 | $324 |
Illustrative example only — your actual rate, term, and payment depend on the lender and your credit profile.
Pros
- Fast approval — often within minutes
- Soft credit check only, so checking rates doesn't hurt your score
- Repayment term sized to the amount, keeping payments manageable
- Available to a wide range of credit profiles
Cons
- The smallest amounts sometimes carry a flat fee structure that makes the effective rate look higher relative to the dollar amount borrowed.
- Not meant to cover anything beyond a single, contained cost — it won't stretch to combine multiple bills.
Alternatives to a $300 Loan
Employer paycheque advance
If your employer offers one, it's often interest-free for an amount this small.
Overdraft protection
If your bank account has overdraft coverage, it may be cheaper for a cost this size than a new loan.
How to Get Your $300
Apply in 2 minutes
Tell us you need $300 and a bit about your situation. No paperwork.
Compare offers
See real offers from vetted lenders, matched to your credit profile.
Get funded
Accept an offer and funds typically land within 24 hours.