I will have to agree with SassyPilotsWife. I know of a few people who have been hired by airlines in the past even thought their qualifications were less than those stated as "minimum."
Either they had other qualifications that were very impressive (let's face it, not many pilots start on a 737 at 250 hours total time), or because of a lack of supply. Sometimes the "minimums" are part of a "fishing expedition."
Go ahead, apply. You never know! Good luck!