The Elastic line of credit is the core product behind Elastic lending loans. It's a revolving personal line of credit with limits from $500 to $4,500, offered through Republic Bank & Trust Company. Instead of borrowing a fixed amount and repaying it on a fixed schedule, you draw what you need, repay over time and borrow again — all from the same account.
What "revolving" means for you
Revolving credit works like a reservoir. Your credit limit is the total capacity. Every cash advance lowers your available credit; every principal payment raises it again. For example, with a $2,000 limit you might draw $600 for a car repair, leaving $1,400 available. Pay down $300 of principal and your available credit returns to $1,700.
| Feature | Elastic line of credit | Installment loan |
|---|---|---|
| How you receive money | Draw any amount up to your limit, anytime | One lump sum |
| Borrow again | Yes, as you repay | Requires a new loan |
| Cost structure | Cash advance fee + carried-balance fee; no interest | Interest (APR) and sometimes origination fee |
| Payment | Varies with balance; minimum due each cycle | Fixed payment |
| Best for | Irregular, short-term cash gaps | One planned expense repaid over years |
Credit limits: $500 to $4,500
Your credit limit is determined during underwriting using your verified income, existing obligations, credit history and the rules of your state. First-time customers are often approved for a limit toward the lower end of the range; the key is that you never have to draw your full limit. Our counselors recommend drawing only the amount needed for the specific expense in front of you.
Why there's no interest
Elastic lending loans use fees instead of an interest rate. That makes costs easier to predict per draw and per billing cycle, but it doesn't mean credit is free. Because the carried-balance fee repeats every cycle you owe more than $10, the longer you carry a balance, the more you pay. Read the full breakdown on our Elastic fees and rates page.
Who this line of credit is designed for
- Working adults with steady paychecks who face occasional, unpredictable expenses
- People who want the option to borrow again without reapplying
- Borrowers with fair or limited credit who may not qualify for a prime credit card
- Anyone who wants a clear plan to repay within a few pay cycles
The bank behind the credit line
Republic Bank & Trust Company is a Kentucky-chartered bank headquartered in Louisville. Because Elastic is a bank product, it's subject to federal consumer-protection laws including the Truth in Lending Act, the Equal Credit Opportunity Act, the Fair Credit Reporting Act and the Electronic Fund Transfer Act.
Line of credit FAQ
Is Elastic a loan or a line of credit?
Elastic is a revolving personal line of credit. People often call the cash advances "Elastic loans," but you're approved for a limit and draw against it, like a credit card without the card.
Who issues the Elastic line of credit?
The Elastic line of credit is offered through Republic Bank & Trust Company of Louisville, Kentucky.
Can my Elastic credit limit change?
Your limit is set at approval based on income, credit and state rules. The lender may review accounts over time; any change is communicated to you directly.
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.