Elastic lending loans don't charge interest. Instead, two fees determine what you pay: the cash advance fee and the carried-balance fee. This page — fact-checked by a Certified Regulatory Compliance Manager — explains both, shows how they add up and gives you a free estimator.
Fee summary
| Fee | Amount | When it applies |
|---|---|---|
| Interest | None | — |
| Cash advance fee | Typically 5% or 10% of each advance | Each time you draw; deducted from the advance |
| Carried-balance fee | $5 – $350 per billing cycle | Each payment due date with a principal balance above $10 |
| Application / origination fee | $0 | — |
| Annual fee | $0 | — |
| Prepayment penalty | $0 | Pay off anytime |
The cash advance fee
The cash advance fee is a one-time charge on each draw. It's commonly 5% when you're on a faster payoff schedule and 10% on a longer schedule. On a $500 draw, that's $25 or $50; on $2,000, it's $100 or $200. The fee is subtracted from the amount deposited.
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.
The carried-balance fee
The carried-balance fee is charged on each payment due date as long as your principal balance is more than $10. It's a flat dollar amount from a tiered table in your agreement — the higher the balance and the less frequent your payments, the higher the fee per cycle, from $5 up to $350. This is the fee that decides your total cost, which is why paying principal quickly matters so much. Our in-depth guide, Elastic carried-balance fee explained, walks through examples.
Representative cost example
Published examples show that drawing about $560 to receive $500 in hand, then repaying over six monthly installments, totals roughly $670 including all fees. Paying the same draw off in two or three months would cost substantially less, because fewer carried-balance fees apply.
Five ways to lower what you pay
- Borrow less. The cash advance fee is a percentage — smaller draws, smaller fees.
- Pay above the minimum. Every extra dollar of principal reduces the next carried-balance tier.
- Pay off before a due date. A balance at or below $10 on the due date means no carried-balance fee for that cycle.
- Use AutoPay plus extra payments. AutoPay prevents missed payments; manual extras speed payoff.
- Plan your payoff before you draw. Choose the specific paychecks that will cover it.
Fees FAQ
Does Elastic have an APR?
Elastic doesn't charge interest on cash advances, but because fees are a cost of credit, the effective annual cost can be high if a balance is carried for many cycles. Your Line of Credit Agreement shows the cost disclosures required by law.
Are there late fees with Elastic?
Check your Line of Credit Agreement for current terms. Elastic is widely reported to charge no application, annual or prepayment fees.
How do I lower my Elastic carried-balance fee?
Pay down principal faster. Because the fee is tied to your balance at each due date, extra payments directly lower — or eliminate — future fees.
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.