What is the smallest personal loan you can get?
Last reviewed November 7, 2026
The smallest personal loan you can get depends on the lender, because each one sets its own minimum. On this site you can ask for as little as $100. At a federal credit union, a payday alternative loan starts at $200. Many banks and online lenders set their floor higher than either of those.
So there is no single answer. There is a floor for each lender, and the only way to learn a given lender's floor is to ask it or read its terms. The rest of this guide covers why those floors differ, what a very small loan really costs, and how to pick the amount you ask for.
Why does the minimum change from lender to lender?
A loan costs about the same to set up whether it is for $200 or $2,000. Someone has to review the request, send the money and collect the payments. On a very small loan, the interest may not cover that work, so many lenders simply start higher.
Lenders that do offer small amounts tend to make up the difference in one of three ways: a higher rate, a fee at the start, or a short repayment window. None of those is automatically unfair, but each one changes what you really pay.
What are the common small loan options?
Here is how the usual choices compare. Terms change by lender and state, so treat this as a map and not as a quote.
| Option | Typical floor | What to check |
|---|---|---|
| Federal credit union payday alternative loan | $200, with $1,000 at the top of the range | You must have been a member for at least one month. Term runs 1 to 6 months. |
| Bank or credit union personal loan | Set by each institution, often higher | Ask directly, since small amounts are not always advertised. |
| Online lender | Set by each lender | Rate, fees, payment dates and the total repaid, in the agreement. |
| A request through a service like this one | You can ask from $100 to $5,000 | We are not a lender. Any offer comes from a lender, on its own terms. |
The figures for payday alternative loans come from MyCreditUnion.gov, the National Credit Union Administration's consumer site (read November 7, 2026). It also says the application fee at a federal credit union can be up to $20.
How much does a very small loan really cost?
Look at two numbers: the total you repay, and the APR. The total tells you what the loan costs in dollars. The APR lets you compare loans of different sizes and lengths. A small loan can have a modest dollar cost and still carry a very high APR, because the cost is squeezed into a short time.
That same government page uses 28 percent APR as its example for a payday alternative loan, and notes that most financial experts agree an APR should not exceed 36 percent for a loan to be affordable. Many short term loans cost far more than that, so read the number before you sign. Find it in the agreement.
How do you decide how much to ask for?
Start from the bill, not from the most you could get. Add up what is actually due before your next paycheck, then subtract what you can cover yourself. That gap is your number.
- Ask for the gap, not a round number. Borrowing $300 for a $240 bill means paying interest on $60 you did not need.
- Check the payment against your pay dates. A payment due the day before payday can cause an overdraft.
- Ask the biller first. Some will agree to a payment plan, which may cost less than any loan.
- Expect the offer to differ. A lender may offer less than you asked for, and sometimes it cannot make an offer at all.
Does asking for less make a yes more likely?
Sometimes, but not by itself. A lender looks at whether you can repay what you ask for, so a smaller amount with a payment that fits your income can read better than a larger one that does not. It does not change the lender's own floor, though, and it does not guarantee an offer. Ask for the amount you actually need. Asking for too little can leave the bill unpaid, and asking for too much raises the cost.
Questions people also ask
Can I borrow just $100?
You can ask for $100 on this site, but the lender decides. Some lenders set a higher minimum, so the answer may be a larger amount or no offer.
Is a smaller loan always cheaper?
The total cost is usually lower in dollars, but the APR on a very small, short loan can be much higher. Compare the total you repay, not only the amount borrowed.
Why do many banks not make very small loans?
Each bank sets its own minimum and many do not advertise very small loans. Ask your own bank or credit union directly, since it already knows your account.
Where to read next
If your credit is the worry, read Can you get a small personal loan with bad credit? If you want to check who you are dealing with first, read Are small personal loans legit?