$300 is the most regulated number in payday lending: it is California’s gross cap (netting $255 after the fee), the standard storefront loan size in $15-per-$100 states at a $45 fee, and the typical minimum draw for online installment and tribal lenders. Same-day options: storefront cash where licensed, or an app advance if your limit has grown past $300 — most new app users cap out below it. Cheapest legal route for exactly $300: a credit union PAL ($200–$2,000 range, 28% APR ceiling ≈ $7 for one month).
Capped states: $300 is the worked example in most statutes — $45 fee at $15-per-$100 states, $35 in Florida-style 10%+$5 models, repaying $335–$345 on payday.
California specifics: $300 is the maximum gross loan; the up-to-$45 fee comes off the top, so cash in hand is $255 — the origin of the famous “$255 payday loan.”
Apps: $300 sits above most first limits ($20–$250) and inside seasoned ceilings ($500–$750) — new users will need two advances or a different door.
Online/tribal installment: $300 is the common minimum draw, repaid over months — expect the total of payments to land $380–$500+ depending on APR and term.
PAL: one month at 28% APR on $300 costs about $7 — the price of membership and paperwork is the only catch.
Exact state figures: all 51 state guides.
Because the statutes do: California caps gross loans at $300, many storefront states use $300 as the standard minimum loan size, and a $45 fee at the common 15% rate makes clean pricing math. The number is regulation-shaped, not marketing-shaped.
Yes — storefront lenders verify income and an ID, not a score, and app advances underwrite deposit history. Online and tribal installment lenders also skip hard pulls at this size. Approval tracks your income verifiability and account standing.
Storefront: cash during business hours, same hour. App with instant transfer: minutes, if your unlocked limit covers $300. Online: same-day ACH is rare and usually fee-priced ($15–$30 expedite); plan on next business day.
On price, no — the payday fee is $45 in a capped state while a $300 tribal loan typically totals $380–$500 over months. On structure, yes if $345 on one payday does not fit: installments trade higher total cost for survivable payments. Compare total of payments, then choose the one your budget actually absorbs.
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