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SuperMoney Net Recommendation Score -37% Recommendation score measures the loyalty between a provider and a consumer. It's at +100% if everybody recommends the provider and at -100% when no one recommends.

Mostly not recommended

32 users recommend
10 users are unsure
76 users don't recommend
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Where does Elastic do business?

Elastic is a line of credit offered by Republic Bank & Trust Company. Elastic is offered in 39 states (and Washington, DC).

What are the APRs offered via Elastic?

Elastic is a fee-based product. Instead of an ongoing interest rate, Elastic charges a cash advance fee of 5% or 10% for every cash advance you request, depending on your billing cycle. Elastic also charges a cash balance fee ranging from $5 to $175, that varies depending on your carried balance. This fee is charged every billing cycle a borrower carries a balance. 

What is the APR equivalent? These loans are designed to be paid within two weeks or a month, so an annualized rate is not the best metric. However, it is useful when comparing credit options. SuperMoney ran the numbers and the APR equivalent of an Elastic cash advance is approximately 137.22% if you repay before the next payment cycle. The APR increases if you have to pay a cash balance fee.

Does Elastic charge an origination fee?

No, Elastic does not charge an origination fee.

An origination fee is what some lenders charge for processing, underwriting, and funding a line of credit. These fees can range from 0.5% to 5% of the line of credit amount. Whenever possible, go with lenders that don’t charge origination fees. 

Does Elastic charge a cash advance fee?

Yes, Elastic charges a fee of 5% to 10% of the amount of each cash advance.

Does Elastic charge a late fee?

No, Elastic will not charge you a late fee.

Does Elastic charge prepayment fees?

No, Elastic does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the line of credit off and close the account.

How much can you borrow via Elastic?

Personal lines of credit start at $500 and go up to $4,500.

What do you need to qualify for a line of credit with Elastic?

Elastic doesn’t disclose its credit score minimum. The minimum age to apply for a line of credit is 18 or the state minimum, whichever is higher.

Elastic only considers borrowers who are employed, or have a regular source of income or benefits.

Active duty servicemembers and their covered dependents are not considered covered borrowers under the Military Lending Act (32 C.F.R. § 232). This means they cannot apply for a line of credit via Elastic. The Military Lending Act prohibits lenders from charging servicemembers more than a 36% APR.

Only U.S. citizens and permanent residents can apply for a line of credit.

To qualify, applicants may need to provide the following documentation:

  • Applicants must have an active and valid checking account
  • Proof of identity
  • Proof of citizenship or residence permit
  • What is the estimated funding time for a personal line of credit via Elastic?

    Elastic will typically provide a credit approval decision in less than an hour and fund the line of credit within 1 business day.

    Does Elastic report to credit bureaus?

    Elastic reports credit data to the following credit reporting agencies:

  • Clarity Services
  • ELASTIC Disclosure: The Elastic line of credit is offered by Republic Bank & Trust Company, member FDIC. Cash Advances requested and approved by 6:00 p.m. ET (3:00 p.m. PT) are typically funded the next business day if you elect to receive your Cash Advance by direct deposit. Each Cash Advance from the Elastic line of credit is subject to a 5% or 10% Cash Advance Fee depending on your billing cycle. A portion of your principal is due each billing cycle, and if you have an ongoing balance, a Minimum Charge of $0.00 to $270.00 will apply. Consult the Elastic Credit Agreement and Terms and Conditions for additional information. Elastic is an expensive form of credit and should not be used as a long term solution. You may be eligible for an Elastic Account if you meet and maintain certain criteria established by us, which may change at our discretion. As of the effective date of these Terms & Conditions, the eligibility criteria are as follows: You are not a Covered Borrower under the Military Lending Act (32 C.F.R. § 232) at the time of application; You are at least 18 years old (or at least 19 years old if you are a resident of Alabama or Nebraska); You reside in a state in which we offer Elastic; You have a regular source of income or benefits; You have at application and maintain a valid Checking Account; You make payments using one of the payment options described in the Terms & Conditions; You provide a valid e-mail address and consent to receive electronic disclosures; You meet our credit underwriting standards; and You agree to and are not in default of the Terms & Conditions. Your Elastic Account is established upon approval and verification of the information in your Application.
    SUPERMONEY Disclosure: is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...


    • Headquarters
    •   Elastic Customer Support
      4030 Smith Road
      Cincinnati, OH 45209 USA
    •   Visit Site

    Message from Elastic

    Elastic is the easy way to access money when you need it. Once your Elastic Account is open and activated, you can access money whenever the need arises. With Elastic, you request Cash Advances online. As you repay your Balance, you can request additional Cash Advances up to your Credit Limit.


    Alaska Alabama Arkansas Arizona California Colorado Connecticut Washington, D.C. Delaware Florida Georgia Hawaii Iowa Idaho Illinois Indiana Kansas Kentucky Louisiana Massachusetts Maryland Maine Michigan Minnesota Missouri Mississippi Montana North Carolina North Dakota Nebraska New Hampshire New Jersey New Mexico Nevada New York Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Virginia Vermont Washington Wisconsin West Virginia Wyoming
      Available in 39 states and Washington, D.C.
    • Alabama
    • Alaska
    • Arizona
    • Arkansas
    • California
    • Delaware
    • Washington, DC
    • Florida
    • Hawaii
    • Idaho
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Kentucky
    • Louisiana
    • Maine
    • Maryland
    • Michigan
    • Minnesota
    • Mississippi
    • Missouri
    • Montana
    • Nebraska
    • Nevada
    • New Mexico
    • North Dakota
    • Ohio
    • Oklahoma
    • Oregon
    • Rhode Island
    • South Carolina
    • South Dakota
    • Tennessee
    • Texas
    • Utah
    • Virginia
    • Washington
    • Wisconsin
    • Wyoming

    Feature Breakdown

    No Origination Fee  
    No Prepayment Fee  
    Minimum Payment $0
    No Late Fees  
    Cash Advance Fee (%) 5% - 10%
    Carried Balance Fee $5 - $175
    Minimum Age 18
    Immigration Status Considered
    • U.S. Citizen
    • U.S. Permanent Resident
    Bank Account Required  
    Employment Statuses Considered
    • Employed Full-Time
    • Employed Part-Time
    • Retired
    • Self-Employed
    Military Status
    • Non-Military
    • Veterans
    Supported Income Types
    • 1099 Misc. Income
    • Cash
    • Direct Deposit (W2, SSA, SSDI)
    • Payroll Check or Prepaid Card
    • Tax Returns
    Joint Loan Applications Accepted
    • Individual Applications
    Verification Documents Required
    • Proof of Identity
    • Proof of Residence
    • Proof of citizenship/residence (Green Card)
    Loan Amount $500 - $4.5K
    APR Starting at 137%



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