Get a $250 Loan Fast

If you’re looking for a $250 loan with quick funding in Canada, you have many options to choose from. Some of these loans may be expensive to repay, particularly if you want a $250 payday loan, so be sure to compare loans and lenders to find the best solution for you.

Compare $250 loans in Canada

Get a loan instantly or within three days with these loan apps.

Last resort option: Payday loans

Payday loans are extremely expensive, so it’s best to avoid them at all costs. But if you have already tried other options and have decided a payday loan is right for your situation, make sure to apply to a licensed lender.

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Which apps can I use if I want to borrow $250 instantly online?

KOHO, Nyble and Bree are popular cash advance apps that let you borrow $250 instantly for a fee.

Payday loan apps like iCash and Wagepay also offer instant $250 online loans, but they are generally much more expensive.

Which loan should I pick?

The right loan depends on your personal situation. If you need an affordable $250 loan and can wait three days, check out Nyble or Bree. Both apps charge zero interest or fees if you choose the slow funding option. Nyble reports payments to the credit bureaus, which helps build your credit score, while Bree doesn’t.

If you’re facing an emergency and need a $250 loan ASAP, consider Nyble or KOHO. Nyble charges $11.99 monthly for instant funding, while KOHO’s monthly fee starts at $2.

Payday lenders also offer instant loans in Canada, but it’s best to avoid them because payday loans have APRs over 300%.

Can I get a $250 loan with no credit check?

Yes, payday loans and cash advances are available with no credit checks. But a word of warning: make sure you’re dealing with a legit lender before you apply. A $250 loan with no credit check may sound too good to be true, and in some cases, it is. Scammers sometimes target borrowers in desperate financial situations, so make sure you know how to spot a loan scam.

Watch out for scam warning signs like:

• Having no office address or contact details
• Pressuring you to sign a loan contract
• Failing to be upfront about the full cost of a loan

Bree, KOHO, Nyble and Wagepay don’t do credit checks. If you’re applying to a payday lender, make sure they’re licensed to operate in your province.

Where can I get a $250 loan with bad credit?

You can get a $250 bad credit loan from most payday lenders, such as iCash and Wagepay, as well as cash advance apps, such as Nyble and Bree. Rather than fixating on your credit score, these lenders will assess your income to work out whether you can afford to repay a loan.

Another option, though much less common, is to check whether you can get a $250 loan with no credit check from a credit union. Some credit unions offer small loans as a payday loan alternative for borrowers with bad credit. Examples include the Vancity Fair and Fast Loan and the Fast Forward Small Loan from Servus.

But while $250 loans for bad credit may be available, keep in mind that credit unions generally have stricter eligibility requirements than payday lenders and cash advance apps.

What are the types of $250 loans online?

There are three options to choose from:

$250 payday loan

Payday lenders offer fast access to short-term loans of up to $1,500. You can apply within minutes online, get funded in as little as an hour in some cases, and some lenders accept and approve applications 24/7. Loan terms of up to 62 days are available, but these loans are generally designed to be repaid by your next payday. They’re also very expensive to repay, so consider other options before applying for a payday loan.

$250 cash advance

Cash advance apps allow you to access a small portion of your paycheque ahead of schedule, usually up to a maximum of $750. There are no credit checks and no interest charges to worry about, but you may need to pay a monthly fee. A fee may also apply if you want an instant $250 loan. Your repayment is deducted from your bank account on your next payday, though some lenders allow you to extend the due date.

$250 installment loan

An installment loan of this size isn’t widely available, but you could try credit unions like Vancity or loan search platforms like Loans Canada, which match you with suitable lenders.

What is the cost of a $250 loan?

Several factors impact how much it costs to repay a $250 loan, including:

• The interest rate
• Any fees that apply
• The term of the loan and your repayment schedule

When comparing $250 loans, be sure to check each loan’s annual percentage rate (APR). The APR combines the interest rate and fees to give you a better idea of how much a loan will cost to repay, so check it carefully.

$250 payday loan vs $250 cash advance vs $250 installment loan

What’s interesting about this example is that the installment loan costs almost as much as the payday loan in dollar amounts, but if you compare their APRs instead, the installment loan is a lot cheaper. The installment loan has an APR of 19%, whereas the payday loan has an APR of 365%.

Can I get a $250 loan the same day?

Yes. Some payday lenders can approve and fund loans in as little as 30 minutes, while same-day funding is available in-store and online through a wide range of loan companies.

It’s also possible to get quick access to a small loan through a cash advance app. But you’ll commonly need to pay an extra fee to get an instant loan, with typical processing times of up to three days.

Finally, some credit unions offer small loans that can be funded within an hour. But as mentioned, these loans are much less widely available than other options.

Tips for how to get $250 today

There are a few simple things you can do to boost your chances of getting approved for a $250 loan:

• No NSF transactions. In the eyes of a lender, repeated NSF transactions on your bank account will cast doubt on your ability to make on-time loan payments. It’s best to have no NSF transactions on your account for at least three months before applying.
• Recurring income. Make sure your income is easily verifiable and directly deposited into your bank account. It doesn’t necessarily need to be employment income either, as many lenders will also accept employment insurance, child tax, disability benefits, CPP and more.
• Online bank verification. Instead of requiring you to upload bank statements to prove your income, many lenders now offer online bank verification. This allows them to check your income online and speeds up the approval process.

Can I get a $250 loan with guaranteed approval?

Smaller loans, like $250 loans, are easier to qualify for than large loan amounts because there’s reduced risk for the lender. But be wary of any lender that promises guaranteed approval, as this could be a sign of a loan scam.

Even though $250 is a relatively small amount, legitimate lenders will still need to verify your income and financial situation before approving your application. This will allow them to get a better idea of whether you can afford to pay back your loan.

Compare more $250 loans

Here are other loans to consider if you need to borrow $250.

• Personal loans
• Cash advance apps
• Payday loans

3 of 4 results

Finder Score	APR Range	Loan Amount	Loan Term	Broker Compliance	Key Features
Finder score 7.5 Great Affinity Credit Union Restart Loan	Finder score 7.5 Great	17.99%	$200 - $3,000	2 - 24 months	Key features: Small loan, payday loan alternative	Continue View details Compare product selection Compare	loading
Finder score 7.6 Great AimFinance Personal Loan	Finder score 7.6 Great	29.00% - 35.00%	$100 - $1,000	9 - 24 months	Key features: Easy approvals	Continue View details Compare product selection Compare	loading
Finder score 7 Great Loan & Go Personal Loans	Finder score 7 Great	29.00% - 32.00%	$250 - $1,250	3 - 6 months	Key features: Short term loan, fast approvals	Continue View details Compare product selection Compare	loading

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Compare other products

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How we picked these

Finder Score for personal loans

To make comparing even easier, we came up with the Finder Score. Interest rates, fees and features across 40+ personal loans are all weighted and scaled to produce a score out of 10. The higher the score the better the loan—simple.

Read the full methodology

3 of 3 results

Finder Score	Costs	Loan Amount	Loan Term	Key Features
Finder score 8.7 Great KOHO Cover	Finder score 8.7 Great	0% + monthly fee from $2	$20 - $250	Flexible	Key features: Instant, no credit check or income required	Go to siteView details Compare product selection Compare	loading
Finder score 8.8 Great Bree Early Pay	Finder score 8.8 Great	0%	$20 - $750	Next pay cycle	Try the budgeting tool free for 30 days. Refer a friend and get a $10 boost on your next loan. T&Cs apply.	Key features: Instant e-transfers, 24/7, no credit check	Go to siteView details Compare product selection Compare	loading
Finder score 9.3 Excellent Nyble Credit Line	Finder score 9.3 Excellent	0%	$30 - $250	31 days, extendable	Use code CFIND1J to get 500 extra points and a $5 higher approval. T&Cs apply.	Key features: Instant e-transfers, 24/7, no credit check	Go to siteView details Compare product selection Compare	loading

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Showing 3 of 3 results

Finder Score for cash advance apps

To make comparing even easier, we came up with the Finder Score. Interest rates, fees and features across 5+ cash advance apps are all weighted and scaled to produce a score out of 10. The higher the score the better the loan—simple.

Read the full methodology

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3 of 20 results

Cost	Loan Amount	Loan Term	Serviced Provinces	Key Features
Wagepay Wage Advance Loan	$14 per $100 borrowed	$100 - $1,500	Up to 62 days	BC and ON	Key features: 24/7 approval and e-Transfer, no credit check	Go to siteView details Compare product selection Compare	loading
iCash Payday Loan	$14 per $100 borrowed	$100 - $1,500	7 - 62 days	AB, BC, MB, NB, NS, ON, PEI	Key features: 24/7 instant approval and e-Transfer, accepts bad credit	Go to siteView details Compare product selection Compare	loading
Venue Financial Payday Loans	$14 per $100 borrowed	$50 - $1,500	Up to 62 days	BC	Key features: Instant loans, no credit check	View details Compare product selection Compare	loading

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Bottom line

There are multiple options to choose from if you need a $250 loan now. However, short-term loans and payday loans in particular can be very expensive, so make sure you know the full cost of borrowing before you apply. Compare $250 loans from a range of lenders to find the best loan for your needs.

Frequently asked questions

• How to get $250 today?

  To borrow $250 instantly, you need to find a cash advance app or payday lender that offers instant approval and funding. Some lenders also approve and fund loan requests 24/7, so they can be a convenient option if you need a $250 loan now.

• Can I get a $250 personal loan?

  Some credit unions may offer $250 personal loans. For example, Vancity and Servus Credit Union both offer small personal loans with no credit checks, but you'll still need to meet the minimum eligibility requirements to qualify.

To make sure you get accurate and helpful information, this guide has been edited by Leanne Escobal as part of our fact-checking process.

Written by

Tim Falk

Writer

Tim Falk is a freelance writer for Finder. Over the course of his 20-year writing career, he has reported on a wide range of personal finance topics. Whether you're investing in stocks and ETFs, comparing savings accounts or choosing a credit card, Tim wants to make it easier for you to understand. When he’s not staring at his computer, you can usually find him exploring the great outdoors. See full bio

Tim's expertise

Tim has written 512 Finder guides across topics including:

• Banking
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