A $255 loan is not a marketing number; it is the maximum a California payday loan can pay out. The state caps the check at $300 and the fee at 15% of that check, so a borrower taking the maximum signs for $300, receives $255 in cash, and repays $300 on the next payday, with a term of up to 31 days. The fee comes off the top, which is why the number everyone searches for is the net amount, not the face value.
The California math
| Line item | Amount |
|---|---|
| Maximum check | $300 |
| Fee, 15% of the check | $45 |
| Net advance to you | $255 |
| Repayment on payday | $300 |
| Term | Up to 31 days |
Both ways of annualizing that fee are correct, and the difference matters. Measured against the $300 check, 15% over 14 days is about 391% APR. Measured against the $255 you actually hold, the same $45 is about 460% APR. The term helps if you use all of it: over a full 31 days the same fee annualizes closer to 208%. California also allows only one payday loan at a time, so there is no stacking a second check on top of the first.
Same-day reality
| When approved | When money lands |
|---|---|
| California storefront payday loan | Cash at the counter the same day, usually within the hour |
| Online payday loan | Same day at some lenders, next business day at most |
| Cash advance app | Minutes to a few hours if your limit covers $255; app caps run $20-$700 |
What the same request costs elsewhere
Outside California, $255 is an ordinary amount and the fee depends on the state. In a typical 15% fee state, borrowing $255 costs $38.25 and repays $293.25 about 14 days later, the same 391% annualized rate. In Alabama, where the fee is 17.5%, the same loan costs $44.63 and repays $299.63. The Californian pays more in total dollars but gets a maximum term twice as long, which is the trade the state legislature chose.
Cost table
| Route | Fee | You receive | You repay | Term |
|---|---|---|---|---|
| California payday, maximum | $45 | $255 | $300 | Up to 31 days |
| Typical 15% fee state | $38.25 | $255 | $293.25 | 14 days standard |
| Alabama, 17.5% | $44.63 | $255 | $299.63 | 14 days standard |
| App advance | $0-$10 tip | $255 if approved | $255 | Next paycheck |
| Credit union PAL | About $6 a month at the 28% APR cap | $255 | About $261 over a month | A few months |
Who qualifies
The baseline does not change with the amount: 18 or older, verifiable income of roughly $1,000 a month, an active checking account, and a soft check rather than a hard pull at most lenders. California lenders additionally confirm you have no open payday loan already. Apps want direct deposit history and often start new users below $255, so approval there is a banking-history question more than a credit question.
When $255 is the wrong shape
A single repayment of $300 works when the gap is one paycheck wide. If the shortfall will repeat, the honest fix is a longer schedule: installment loans spread $100-$5,000 over 3-24 months at APRs from 6.63% to 225%, and the payment can be sized to income instead of the calendar. See our installment loan page for how that math compares.
If you are not in California
Fee caps and loan limits are state law, and they vary more than most borrowers expect: caps run about $10-$30 per $100, some states cap total principal at $500 or $700 (Washington’s ceiling is $700), and 13 states ban licensed payday lending outright. This site does not serve AR, NH, VT, WV, or NY. The state-by-state detail lives in our payday loan laws guide, the full fee schedule in rates and fees, and if you are comparing amounts rather than states, the $300 loan page is the natural next stop.