A cash advance is how you actually receive money from Elastic lending loans. Each time you draw from your line of credit, that draw is a cash advance — deposited straight into your checking account, with a one-time cash advance fee disclosed before you confirm.
How to request a cash advance
- Sign in to your online account and check your available credit.
- Enter the amount you want to draw.
- Review the cash advance fee and the amount that will be deposited.
- Confirm the request. Funds are typically sent by ACH and arrive as soon as the next business day.
The cash advance fee
Every advance carries a cash advance fee — typically 5% or 10% of the amount drawn, depending on your payment schedule and terms. The fee is deducted from the advance, so if you need exactly $900 in hand with a 10% fee, you'd request $1,000. Use the estimator below to try different amounts.
Cash advance estimator
Estimates use published minimum-payment rules ($50 or 5% of balance on bi-weekly/semi-monthly; $100 or 10% on monthly). Carried-balance fees are added each cycle a balance over $10 remains and are not included above.
Funding timing
Requests approved before the daily processing cutoff on a business day are typically deposited the next business day. Weekends, bank holidays and your own bank's posting practices can add time. If your expense has a hard deadline, request your advance early in the week.
Using cash advances responsibly
- Write down what the advance is for and the paycheck you'll use to repay it.
- Avoid drawing to pay another lender — it compounds fees.
- Keep a running total of your balance so the next statement isn't a surprise.
Cash advance FAQ
What is the minimum Elastic cash advance?
You can draw an amount up to your available credit. Drawing a smaller amount means a smaller cash advance fee.
How is an Elastic cash advance delivered?
Cash advances are sent by ACH direct deposit to the checking account linked to your Elastic account.
Can I cancel a cash advance?
Contact the lender's customer support as soon as possible; cancellation rights and timing are described in your Line of Credit Agreement.
Last reviewed October 17, 2026. Information reflects published Elastic® line of credit terms at the time of review and may change. Always read the lender's Line of Credit Agreement before you borrow.