What is the meaning of [Half a loaf is better than no bread]

Something, even if it isn’t what you ideally would prefer, is better than nothing.

This proverbial saying is first found in the same place as many other proverbial sayings – John Heywood’s 1546 glossary A dialogue conteinyng the nomber in effect of all the prouerbes in the englishe tongue:

Throwe no gyft agayne at the giuers head,
For better is halfe a lofe then no bread.