Sometimes an unexpected expense pops up and you need cash in a hurry. Whether it’s a surprise car repair or a bill due before payday, a 250 dollar loan can be a lifesaver. The good news is that there are several accessible ways to borrow this sum, even if your credit isn’t perfect. Let’s explore your best shots below.
KEY TAKEAWAYS
- A $250 loan can help cover urgent expenses like car repairs or medical bills when you don’t have enough savings.
- Credit unions, cash advance apps, and employer paycheck advances often offer more affordable options than payday loans.
- If borrowing isn’t ideal, consider asking a trusted friend, employer, or local charity for temporary help.
When to Take Out a $250 Loan
Taking on debt for a short-term need should be done only when it’s truly necessary. Here are a few situations when a $250 loan might make sense as a practical solution.
Urgent Car or Home Repair
Essential repairs can’t always wait. If your car breaks down or you have a minor home repair that costs a few hundred dollars, taking a $250 loan might be a smarter option than ignoring the problem.
Covering an Unexpected Emergency Expense
If you have an urgent expense like a medical co-pay or a broken appliance, a $250 loan can bridge the gap when you don’t have enough savings. Rather than putting the charge on a high-interest credit card or missing the payment entirely, a small loan can help you handle the emergency now and pay it back over time.
Avoiding Overdrafts or Late Fees for Existing Debt
Another reason to consider a quick $250 loan is to avoid further financial struggles later on. For example, if your bank account is about to go negative, a short-term loan could save you from multiple $35 overdraft fees. Banks typically charge around $35 per overdraft, even if you’re short just $25.
Similarly, failing to pay a bill on time may result in late fees. In these cases, borrowing $250 to cover the shortage and repaying it quickly can be cheaper than letting the fees accumulate.
6 Ideas on How to Borrow $250
When you need cash fast, it helps to know all your options. Here are six practical ways to get about $250 quickly, each with its upsides and things to watch out for.
1. Credit Union or Bank Small Loans
Start by checking with your credit union or local bank. Many financial institutions offer small personal loans or emergency loan programs to their customers. For example, some federal credit unions offer “Payday Alternative Loans” of around $200 to $1,000, which are far more affordable than payday loans.
These loans have capped interest rates (often under 28% APR by regulation) and reasonable fees, making them easier to repay. Even if you have bad credit, being a member of a credit union or having an existing account in good standing with a bank might improve your chances of approval.
Talk to a loan officer at your bank or credit union and explain your situation. They may offer a short-term loan of $250 with a fixed interest rate or a credit-builder loan option. The application process could be slightly slower than that of payday lenders, but you’ll save a lot in interest.
Just remember that banks and credit unions will still expect you to have enough income or the ability to repay relatively soon, often within a few months. If you can qualify, this is one of the most affordable ways to borrow 250 dollars.
2. $250 Short-Term Loan
If you do not have a perfect credit score and need cash immediately, a small-dollar loan is a standard route. A payday lender will lend you money for a short period with no hard credit check. To get these loans, you usually just need an ID, proof of income, and a bank account, and many lenders can approve you online within minutes.
However, proceed with caution. If you can’t pay it back on time, many payday lenders allow renewals or rollovers (with extra fees each time), which can trap you in debt.
3. Money Borrowing Apps
Another increasingly popular option is to use an app to take a $250 cash advance. These smartphone apps, such as Earnin, Dave, Brigit, or Empower, let you access a portion of your upcoming paycheck early, typically without a formal credit check.
With these services, you connect the app to your bank account, allowing it to verify your income and paycheck schedule. Then you can request an advance, often $50 to $250 for new users, with higher limits as you build a history.
Cash advance apps usually don’t charge traditional interest. Instead, they might have a small subscription fee or request an optional “tip.” This can make them cheaper than payday loans if used correctly. You’ll repay the advance automatically when your paycheck deposits (usually within 2 weeks).
Keep in mind: you must have a steady paycheck and a checking account to use these apps. And while they don’t charge interest, any voluntary “tip” or rush fee you pay could translate into a high effective cost if you’re not careful.
4. Credit Card Cash Advance
If you have a credit card, you could take a cash advance from it. Many credit cards allow you to withdraw cash at an ATM or bank, up to a specific limit, usually a few hundred dollars initially. The significant benefit here is speed. You can get cash in hand instantly at an ATM if you have available credit. There’s also usually no separate application since it’s part of your credit card account.
However, credit card cash advances are not cheap either. The card issuer will typically charge an upfront cash advance fee, ranging from 3% to 5% of the amount. Interest accrues immediately on the advance; there is no grace period. The interest rate for cash advances is often higher than your regular purchase APR, commonly 25% or more.
Be aware of your card’s limit for cash advances and any ATM limitations. If you need the money now, a credit card advance is convenient — just remember to factor in the fees. And if you find yourself relying on cash advances frequently, it’s a sign to review your budget, as those fees can add up.
5. Online Loan Connection Services
If you want to compare multiple offers quickly, consider using an online loan connection service like Buddyloans. Buddyloans is not a direct lender; it’s a loan-connecting platform. That means you fill out one application, and the service works to match you with a network of potential lenders that offer small personal loans, even for bad credit, typically ranging from $250 and up.
This can save you time and increase your chances of finding a lender willing to work with you despite having bad credit. For example, rather than applying separately to several online lenders (which could damage your credit with multiple hard checks), you can submit your information once on Buddyloans. The platform will then show you any loan offers you qualify for from partner lenders.
6. Pawn Shop or Collateral Loan
If you have an item of value, a pawn shop loan is another way to get $250 fast, without any credit check. This isn’t a traditional “loan” from a bank; instead, you bring in something you own (like jewelry, electronics, a musical instrument, etc.), and the pawn shop gives you cash based on a percentage of that item’s value.
For a $250 loan, you’d likely need an item worth somewhat more than that, since the pawnbroker needs a cushion to resell if you don’t repay. The pawn shop holds your item as collateral. To get your item back, you must repay the loan, including interest and fees, within the agreed-upon time, which is often 30 days.
Other Ways to Borrow $250
If traditional loans or cash advances won’t work for you, there are a few other creative routes to come up with $250. When you need money urgently, sometimes thinking outside the box (and outside of banks) can provide a solution:
Borrow from Family or Friends
One of the quickest ways to get $250 is to ask a family member or friend for a small loan. It might feel uncomfortable to ask, but if you explain your situation and have a plan to pay them back promptly, a loved one might be willing to help. Many people turn to friends or family in a pinch to avoid high interest or fees. If you go this route, treat it like a real loan: put the terms in writing, pay it back as promised, and consider offering a small thank-you, such as a gift card or a small interest payment if they insist. This maintains trust and keeps the relationship healthy.
Request a Paycheck Advance from Your Employer
Some employers offer paycheck advances or employee loans as a benefit. It might be formal (through HR) or informal (your boss agrees to give an early paycheck). If you’re employed and need $250 urgently, it’s worth checking if your company offers any assistance. For example, a few large employers partner with earned-wage access programs that allow workers to tap into their earned income before payday. Even without a formal program, your HR department might agree to cut you a one-time advance on your next paycheck and simply deduct it when payday comes.
Explore Community Assistance or Payment Plans
If your need for $250 is tied to a specific expense, like a utility bill, rent, or a medical payment, you might not need to borrow at all. Instead, consider reaching out for help from the community or a provider. For instance, nonprofits, local charities, or religious organizations sometimes offer emergency funds or no-interest microloans to help with essential expenses. You can call 2-1-1 (the United Way helpline in the U.S.) to inquire about local resources for financial assistance. It may take some research, but you can find a grant or charity program to cover what you need, especially for necessities like utilities and groceries.
Short on Cash? A 250 Dollar Loan Can Help
Get the quick financial relief you need with a fast and easy $250 loan—apply now and cover unexpected expenses today.
FAQ about 250 Dollar Loans
Do you have questions about taking a $250 loan? You’re not alone. Here are answers to some common questions so that you can make an informed decision:
Can I Get a $250 Loan With a Bad Credit Score?
Yes. A $250 loan is a small amount, so many lenders are willing to work with individuals who have bad credit or no credit history. Options like payday lenders, cash advance apps, and loan connection services specifically cater to those with poor credit. They focus more on your income and ability to repay soon, rather than your credit score.
Do $250 Loans Require a Credit Check?
It depends on the type of lender. Many $250 loan options do not require a traditional hard credit check, which is why they are popular for quick cash. For instance, payday loan stores and online payday lenders typically don’t pull your FICO score. They’ll verify your employment and bank info instead. Similarly, most cash advance apps skip the credit check entirely. Even some personal loan marketplaces that connect you to lenders will initially use a “soft” credit check (which doesn’t affect your score) to show you offers.
Sources
- Investopedia, Cash Advance: Definition, Types, and Impact on Credit Score. Investopedia, Accessed 30 April, 2025.
- Senator Booker’s website, CFPB Overdraft Fee Letter, booker.senate.gov. Accessed 30 April, 2025.