Loans Like Elastic? 8 Options Listed (With Similarities & Differences)

What Is Elastic?

Elastic is a flexible, unsecured line of credit issued by the Republic Bank & Trust Company. Based on your creditworthiness, you can borrow between $500 and $4,500. To qualify, you must provide proof of income or benefits and have an active checking account. Elastic also requires a credit check. Upon approval, you can take cash advances up to your credit limit and receive the funds via direct deposit or a mailed check.

Elastic is not available in Colorado, Connecticut, Georgia, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Vermont, or West Virginia.

Loans Like Elastic

Other lenders offer personal loans and flexible lines of credit similar to Elastic. Below, you’ll find the list of credit lines with similar requirements, procedures, and terms.

Note: When applying for any line of credit, it’s important to check the loan’s terms and fees. Cash advances often incur a fee each time you borrow and may be subject to carried balance fees, high interest rates, late and returned payment fees, and administrative fees. Short-term personal loans and flexible lines of credit should only be used in emergency financial situations.

Avant

• Loans like Elastic: Personal loan
• Similarities to Elastic:
  • You can select your loan amount up to your approved limit.
  • Loan funds can be received through an ACH deposit.
  • Loans are unsecured, meaning they do not require collateral.
• Differences from Elastic:
  • You cannot draw on the loan multiple times; the loan term is fixed.
  • Avant charges interest, not cash advance and carried balance fees.
  • There are fewer disbursement and repayment options.
  • Avant has a much higher loan limit (up to $35,000, depending on your creditworthiness and your state’s limits).
• Requirements:
  • You must provide your full name, address, and Social Security number.
  • You must have a personal, active checking or savings account.
  • You must have a verifiable income or benefits.
  • A credit check required.
• Disbursement: ACH deposit available as soon as the next business day; processing times vary depending on your bank
• Repayment options: Monthly payments
• Fees:
  • Administration fees up to about 5%
  • Late payment fees are $25
  • Returned payment fees are $15
• Apply

CashNetUSA

• Loans like Elastic: Line of credit (known as a Flex Loan in Tennessee)
• Similarities to Elastic:
  • You only need to apply once, and you can draw funds up to your available credit limit.
  • Funds can be received through ACH deposits.
  • CashNetUSA offers similar repayment schedules.
  • Loans are flexible and unsecured, meaning they do not require collateral.
• Differences from Elastic:
  • Loans are available in fewer states; loans are available in Alabama, Idaho, Kansas, Louisiana, Missouri, South Carolina, Tennessee, Utah, Virginia, and Wisconsin.
  • CashNetUSA does not require a traditional credit check.
  • CashNetUSA has a lower loan limit (up to $3,000, depending on your creditworthiness and your state’s limits).
• Requirements:
  • You must be at least 18 and a U.S. citizen or permanent resident.
  • You must have an active checking account.
  • You must have a verifiable, steady income.
• Disbursement: ACH deposit within two business days of approval
• Repayment options: Bi-weekly or monthly payments
• Fees:
  • Lines of credit have a transaction fee of 15% each time you draw funds.
  • Flex Loans in Tennessee are subject to a 0.69% customary fee applied to the balance for each day of the billing cycle.
  • Late fees range from $5 to $20 or about 5% of the unpaid amount, depending on your state of residence.
• Apply

Connexus Credit Union

• Loans like Elastic: Flex and FlexPlus lines of credit
• Similarities to Elastic:
  • You can choose the amount you want to borrow up to your available credit limit.
  • Funds are made available via direct deposit or check.
  • Connexus has similar application requirements.
  • Connexus has similar repayment options.
  • Loans are unsecured, meaning they do not require collateral.
• Differences from Elastic:
  • You must have a Connexus account or apply for one at the time you apply for the line of credit.
  • Connexus charges interest, not cash advance and carried balance fees.
  • Connexus has higher loan limits (up to $15,000 for Flex and $25,000 for FlexPlus, depending on your creditworthiness and your state’s limits).
• Requirements:
  
  • You must be of legal borrowing age in your state.
  • You must provide your name, address, phone number, email address, monthly mortgage payment/rent amount, date of birth, and Social Security number.
  • You must have a verifiable monthly income.
  • A “hard” pull of your credit required.
• Disbursement: ACH deposit or check; funds process within two to three business days
• Repayment options: Bi-weekly or monthly payment; minimum payment is 2% of your outstanding balance
• Fees:
  • Returned payment fees are $15
• Apply or visit a Connexus branch

First PREMIER Bank

• Loans like Elastic: Easy Access line of credit
• Similarities to Elastic:
  • First PREMIER Bank has similar minimum and maximum loan limits ($300 to $5,000).
  • Loans are flexible and unsecured, meaning they do not require collateral.
• Differences from Elastic:
  • Loans are available in fewer states; loans are available in Iowa, Minnesota, and South Dakota.
  • First PREMIER Bank charges interest, not cash advance and carried balance fees.
  • First PREMIER Bank has fewer repayment options.
  • You must have a First PREMIER Bank checking account.
• Requirements:
  • You must be at least 18.
  • You must verify your identity with a driver’s license, passport, military ID, or state ID and Social Security number.
  • A credit check is required.
• Disbursement: Transfer to your First PREMIER checking account within one to two business days
• Repayment options: Monthly online payment
• Fees:
  • $12 overdraft protection fee if used when you overdraw your checking account
• Apply

Ladder Credit

• Loans like Elastic: Line of credit
• Similarities to Elastic:
  • Ladder Credit has similar application requirements.
  • Loan funds can be received through ACH deposit.
  • Loans are unsecured, meaning they do not require collateral.
• Differences from Elastic:
  • Ladder Credit has fewer repayment options.
  • Ladder Credit has a lower loan limit (up to $1,300, depending on your creditworthiness and your state’s limits).
• Requirements:
  • You must be at least 18.
  • You must provide your personal information, including your Social Security number and driver’s license number.
  • You must have a regular, verifiable income.
  • You must have an active checking account.
  • You must not be an active member of the military, military spouse, or military dependent.
  • You must have no history of bankruptcy or intention to file for bankruptcy.
• Disbursement: ACH deposit within two business days
• Repayment options: Monthly payments
• Fees:
  • Rates between about 1.75% and 2.05% per day, depending on whether you are a new or returning customer and whether you make payments through ACH transfers or a debit card
• Apply

Mobiloans

• Loans like Elastic: Line of credit
• Similarities to Elastic:
  • Loans are available in many of the same states as Elastic.
  • Funds are made available by bank transfer or direct deposit.
  • Mobiloans has similar application requirements.
  • Mobiloans has similar repayment options.
  • Loans are flexible and unsecured, meaning they do not require collateral.
• Differences from Elastic:
  • Mobiloans has smaller loans limits (up to $2,500, depending on your creditworthiness and your state’s limits).
• Requirements:
  • You must be of legal borrowing age in your state and must not live in Arizona, Arkansas, Colorado, Connecticut, Georgia, Illinois, Louisiana, Maine, Maryland, Massachusetts, Minnesota, Montana, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, South Dakota, Vermont, West Virginia, or the District of Columbia.
  • You must have an active checking account.
  • You must have a verifiable source of income.
• Disbursement: ACH transfer within two business days of approval
• Repayment options: Weekly, bi-weekly, semi-monthly, or monthly
• Fees:
  • Cash advance fees are between $1 and $3 for each $20 in cash advance
  • Fixed finance charges are between $10 and $135
• Apply

Mobiloans is a tribal lender. Tribal lenders are associated with a federally recognized tribe. For more tribal lending options, see our article on tribal installment loans.

MoneyKey

• Loans like Elastic: Line of credit
• Similarities to Elastic:
  • MoneyKey has similar application requirements.
  • MoneyKey has similar repayment options.
  • Loan funds can be received through ACH deposit.
  • Loans are flexible and unsecured, meaning they do not require collateral.
• Differences from Elastic:
  • Loans are available in fewer states; loans are available in Kansas, South Carolina, and Tennessee.
  • MoneyKey charges interest, not cash advance and carried balance fees.
  • MoneyKey has smaller loan limits (up to $1,000, depending on your creditworthiness and your state’s limits).
• Requirements:
  • You must be at least 18 and a U.S. citizen or permanent resident.
  • You must provide a valid phone number and email address.
  • You must have an active checking account.
  • You must have a regular, verifiable source of income.
• Disbursement: ACH deposit within two business days of approval
• Repayment options: Bi-weekly, semi-monthly, or monthly minimum
• Fees:
  • Annual fees are $50
• Apply

NetCredit

• Loans like Elastic: Line of credit
• Similarities to Elastic:
  • NetCredit has similar loan amounts available.
  • NetCredit has similar fees.
  • NetCredit has similar application requirements.
  • NetCredit has similar repayment options.
  • Funds are made available through direct deposit.
  • Loans are flexible and unsecured, meaning they do not require collateral.
• Differences from Elastic:
  • Loans are available in fewer states; loans are available in Alabama, Delaware, Idaho, North Dakota, Utah, and Wisconsin.
  • NetCredit has a smaller loan limit (up to $3,500, depending on your creditworthiness and your state’s limits).
• Requirements:
  • You must be at least 18 (19 in Alabama or Delaware).
  • You must provide personal information and an email address.
  • You must have an active, personal checking account.
  • You must have verifiable income.
  • A credit check is required.
• Disbursement: Direct deposit on the same business day or the next business day, depending on what time you are approved; NetCredit may delay payment if it needs additional documents for your application
• Repayment options: Bi-monthly, semi-monthly, or monthly
• Fees:
  • Cash advance fees of 10% apply whenever you draw funds
  • Outstanding balance fees are between $5 and $10 per $100 balance; balance is rounded up to the nearest $100
• Apply

More Information

See our previous research for information on the different types of loans, including their features and benefits.