What is it?

Elastic is a new line of credit product for your employees. Provided by Republic Bank, Elastic is available at no cost to you and as a benefit for your employees.

Elastic is a smarter alternative to help employees.

  • It’s no cost to you.
  • Nothing for you to do or manage.
  • Reduces payroll advance hassles for you.
  • If the employee quits or gets fired, you’re never responsible for the loan.

How it works.
 
  • Employees can make a cash advance request 24/7 online from Elastic.com.
  • They can apply for a line of credit from $500 to $2,500.
  • Cash advances can be automatically repaid via the employee’s bank account.
  • Employees can make one payment or spread it out over up to 20 payments.
  • A 5% Cash Advance Fee at the time the employee borrows money.
  • Plus, a fixed minimum charge per billing cycle on outstanding balances.
  • Nothing for you to do or manage.
 



Get Started

For product questions, please contact us at 866.745.7990 or email us at info@elastic.com