Answers to the most common questions about Elastic lending loans — reviewed by our compliance specialist. Can't find what you need? Contact us.
Basics
What are Elastic lending loans?
Cash advances drawn from the Elastic line of credit, a revolving personal line of credit offered through Republic Bank & Trust Company with limits from $500 to $4,500.
Is Elastic a payday loan?
No. Elastic is a revolving line of credit repaid in installments over multiple pay periods, and you can borrow again as you repay. A payday loan is typically a single lump-sum loan due on your next payday.
Who offers Elastic?
Elastic is offered through Republic Bank & Trust Company, headquartered in Louisville, Kentucky.
Is this website Elastic?
No. elasticlendingloan.com is an independent information and loan-request site. We are not the lender.
Applying
How do I apply?
Click any Apply button to reach our secure request form. The process takes about five minutes.
Will applying affect my credit?
Lenders review your credit report as part of underwriting. The type of inquiry used is disclosed during the application.
What do I need to apply?
Proof of identity, your SSN, regular income, an active checking account, a valid email address and residence in an eligible state.
Can I apply if I'm in the military?
Elastic is not offered to active-duty members, spouses or dependents covered by the Military Lending Act.
Fees & costs
Does Elastic charge interest?
No. Elastic uses a cash advance fee and a carried-balance fee instead of interest.
How much is the cash advance fee?
Typically 5% or 10% of each advance, depending on your payment schedule.
What is the carried-balance fee?
A fee from $5 to $350 charged each billing cycle you carry a principal balance above $10.
Are there hidden fees?
Elastic is reported to charge no application, annual or prepayment fees. Your Line of Credit Agreement lists all fees.
Repayment
How often do I pay?
Bi-weekly, semi-monthly or monthly, matched to your pay schedule.
What's the minimum payment?
On bi-weekly or semi-monthly schedules, $50 or 5% of your balance; on monthly, $100 or 10% — plus any carried-balance fee.
Can I pay off early?
Yes, with no prepayment penalty.
What is the cooling-off period?
After 10 consecutive months with a balance, new draws pause until your balance stays at $0 for 20 consecutive days or is paid in full.
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.