Loans Like Elastic | 5 Best Elastic Alternatives in 2021

Elastic is a line of credit (LOC) created for the non-prime borrowers who are cash-strapped and need quick cash. They offer a fast and simple loan application and approval process which do not require you to have an excellent credit background. 

However, Elastic’s fees are very high and should be your last-resort option during emergencies. In this post, we’ll zero in on everything there’s to know about the Elastic loans. Heck, you’ll get to learn about the Elastic loan choices. 

Loans Like Elastic – #1 Alternative: Viva Payday Loans


Loan Amount Loan Terms  APR Range Loan Fees Customer Support
Viva Payday Loans $100 – $5000 2 – 24 months 5.99% – 35.99% Depends on the lender Yes
Check City $50 – 5000 8 days – 6 months 214.71% – 1173.21% No Yes
Net Credit $1,000 – $15,000 6 – 60 months 34% – 155% Varies by state, up to 5% of loan amount Yes
Fig Loans $50 – $1000 1 – 6 months 35.99% – 211% No  Yes
Lend Up $100 – $500 7 – 31 days  70.6% – 1251.43% Loan fee of up to 25% of the amount borrowed Yes
Cash Net USA $100 – $3,500 6 – 24 months 85.00% – 449.00% Not specified Yes


Best Loans Like Elastic – Quick-Pick:

  1. Viva Payday Loans – Best Overall Payday Loan Provider
  2. Check City – Best for Instant Cash Processing 
  3. Net Credit – Good for Flexible Loan Repayment
  4. Fig Loans – Good for Credit Building
  5. Lend Up – Best for Quick Approval Loans
  6. Cash Net USA – Best for Vast Loan Ranges

What Are Elastic Loans?

Elastic is a line of LOC provided by the Republic Bank and Trust Company (based in Louisville). This firm markets itself as the “responsible” credit choice for non-prime borrowers. It’s applauded as a helpful option for borrowers with slim chances of securing emergency loans from banks and other high-street financial institutions. 

An Elastic line of credit is accessible in 39 states, and the institution has pledged to provide a versatile borrowing experience to all its clients. Even so, it’s always essential to read and understand the loan’s fine print before taking out a line of credit, mainly if you are a non-prime borrower. 

Common Uses of Elastic Loans

The following are some of the common uses of the Elastic loans:

1. For Debt Consolidation

Most borrowers take out payday loans to clear off other outstanding loans. You can use a loan to pay back debt from another financial company. Or it could be a debt from other sources like a credit card. 

If this is the case, taking out a payday loan may be essential, particularly if the rates imposed are lower than what you owe on the debt. However, the approximated interest is often not absolutely accurate. Additional charges may pile up into a considerable fee. 

A borrower should contemplate debt consolidation before securing a payday loan. This approach will consolidate all your bills, helping you clear them off swiftly—way less dangerous than securing a payday loan.

2. To Sort Out Moving Costs

Shifting your residence can help you cut housing expenses, improve the living standard of your family, or allow you to take advantage of your new career opportunity. 

However, relocating can be extremely expensive at times. Long-distance relocation may cost you a couple of thousand dollars — even the local move can be pricy than you may imagine. 

A personal loan can come in handy when you want to move, but you’re anxious about the moving cost. 

3. For Debt Consolidation

Most people who take out payday loans do so to pay off another debt. You can use the money to pay off a debt owed to you by another firm. It might also be a debt from another source, like a credit card.

In this instance, a payday loan may be necessary, especially if the interest rate is lower than the amount owing on the other debt. However, the quantity of interest that can be forecast is rarely exact. Extra fees that can add up to a huge sum that is challenging to avoid are commonly overlooked.

Instead of taking out a payday loan, consumers should consider debt consolidation. This service will aggregate all of your current bills so that you can pay them off quickly, which is far safer than taking out a payday loan.

4. To Respond to Emergencies

In life, everybody goes through some difficult times at some point. And most of these situations need quick cash response solutions. Some people resort to their credit cards, which impose high-interest rates, to take care of emergencies. Alternatively, you can take out a personal loan which will be fairly less costly. 

Furthermore, a personal loan allows you to schedule your repayment plan with your lender, whereas credit card debt may take you years to pay back, which will attract more interest. Most personal loans have three to five years repayment plans, so you’ll know precisely when you’ll become debt-free. 

While most people assume that personal loans take too long to access, most personal loan lenders have a fast application and approval process, and you’ll have your funds in no time to respond to the emergency. 

5. For Emergency Responses

Emergencies happen much too frequently, and many people do not have an emergency fund, so they are unprepared to respond when they have an unforeseen financial need. While you may use a credit card to cover your unexpected conditions, a personal loan can be far less expensive.

In addition, unlike credit card debt, which can take years to pay off if only the minimum payment is made, you will pay back your loan according to the terms you agreed upon with your lender. Many personal loans offer three- to five-year repayment plans, so you’ll know how long it’ll take to pay them off.

Many personal loan providers offer a quick application process and make funds available right away, so don’t believe acquiring cash through a personal loan will take too long if you have an emergency.

How To Qualify For Elastic (Eligibility Criteria)

  • Applicants must be at least 18 years and utmost 65 years, and maximum age of 21 for specific loan amounts
  • Borrowers must have a reliable income (salary and self-employment individuals), the lender will quote the minimal level of income required
  • Most lenders require a credit score of 650, but with other factors in your favour, you can still be eligible for the loans

Top 5 Elastic Loans Alternatives – Fully Reviewed

The following are the six Elastic alternatives — entirely focused on your convenience:

1. Viva Payday Loans – Best Overall Payday Loan

Viva payday loans top our all-inclusive bad credit payday platform. This portal allows individuals to access a wide range of payday loans bad credit starting from $200 to $5000 with a repayment term from two to 24 months. Since it’s a broker site, you can fill out a quick online application form and get approval/decline feedback in a matter of minutes. 

If your application is approved, you’ll be connected to a payday loans bad credit lending firm that will give you the loan. However, this lender will request additional information such as proof of address, bank statements, and proof of salary (pay stubs). 

After submitting and verifying the documents, the lender will prepare and send you a loan agreement, which you need to read and understand before signing and submitting. You’ll receive the cash in your bank account shortly after. The lenders will automatically debit your bank account each month to repay the loan. 

The interest rates will differ from one direct lender to another, but most platforms provide interest rates ranging from 5.99% to 35.99%. Viva payday firm is famous for providing online loans to bad credit, no credit, benefits recipients, and even unemployed people


  • Same-day fund disbursement
  • A wide range of loans starting from  $200 to $5,000
  • Five-minute application procedure and two-minutes approval


  • It’s not accessible in all states

2. Check City – Best for Instant Cash Processing

Check City is a licensed payday lending firm accessible in 15 states, making it more forthcoming considering users’ safety than other payday firms. But fee, period, and loan amounts vary significantly based on your condition. 

Overall, you’ve seven to thirty-one days to repay your loan, with a fee starting from 15% to 20% of the loan amount imposed. 

But this is not always the scenario. In some cases, terms can be extended to six months, including the interest instead of a flat rate. 

Despite the amount borrowed, this often changes into an annual percentage rate (APR) varying from 150% to over 600%. In worse-case-scenario, it can hit 900%—Check City’s platform allows users to confirm their rates. 

Check city is a famous certified payday lending firm in 15 states. They provide personal loans, installment loans, title loans, among other financial services in many countries. 

This platform is a Utah Commercial Lending Association member, a commercial association that formulates rules and regulations for payday lenders. Check City applies McAfee and DigiCert features to ensure the safety of the website and your details. 


  • You can readily get the state licenses on their website
  • You’ll get instant cash if you apply in-store
  • The lender ensures the client’s security


  • Some Annual Percentage Rates exceed 900%
  • In-store loan services are available in only four states

3. Net Credit – Best for Flexible Loan Repayment

NetCredit give out non-secured loans ranging from $1,000 to $10,000 for California residents. This online loan provider, based in Chicago, targets individuals who are “underqualified” to secure loans in other high-street lenders. Moreover, NetCredit provides loans to people with poor credit scores without them surrendering their properties as collateral.

However, their annual percentage rate usually is far higher than the national average. But while Netcredit loans can be more pricy, it doesn’t limit its clients on how to utilize the loan, does not charge fees, and records repayment trends to major credit bureaus. So if you make on-time payments, this can help you progressively improve your credit. 

Netcredit reviews employment, residential background, and relevant information from choice credit bureaus when appraising a loan application. They analyze applicants’ creditworthiness to trends of on-time and missed payments that, according to Chartier, the convectional credit rating system often ignores. 

On the plus side, NetCredit does not penalize prepayment—charge for clearing out your loan prematurely. This enables you to clear your loan as fast as you can and avoid the additional interest payment. Additionally, they don’t charge application or non-sufficient fees. But depending on your condition, you may have to pay an original cost of up to 5% of your loan amount. These funds will be taken off your loan, thereby reducing the amount receivable. 


  • The payout process is a fast—same or following business day
  • A soft credit check is used as a pre-qualification for a loan
  • Loan lengths differ by jurisdiction; however, NetCredit offers loans with payback terms ranging from six to sixty months
  • There are no prepayment penalties


  • Not available in all states: While NetCredit offers loans in 36 states, if you live outside of its service region, you will not be eligible
  • High-interest rates: NetCredit services are available to persons with terrible credit, and they charge higher-than-average APRs, ranging from 35% to 155% in some jurisdictions
  • There are no other signers: NetCredit is not the ideal option for a combined loan application

4. Fig Loans – Best for Credit Building

Cash Central is an online lending business that provides installment loans ranging from $300 to $5,000; however, loan limits vary depending on where you live. You will not need perfect credit to get approved—Cash Central markets its loans as quick solutions to life’s problems.

The company also offers payday loans and credit lines; however, you may limit your selections depending on your area. The Cash Central is owned by Community Choice Financial, a nationwide financial services corporation launched in 2011.

When Cash Central digitally withdraws the money you owe on the due date, you have returned the loan. If you make future loan payments, your funds will be allocated first to any current interest and fees, then to the loan principal. If you require an alternative method of repaying your loan, please feel free to contact Cash Central.


  • You can compare payday loan offers from many organizations that have been approved.
  • You’ll be able to find your best-qualified rate in just a few minutes.
  • You can find out how much money you’re qualified for and how much money you’ll have to pay each month.


  • APRs that are too high, plus additional expenses.
  • Some loans are available in different states.

5. LendUp – Best for Quick Approval Loans

Lend Up loans are short-term loans for users who have limited loan alternatives. Since this platform doesn’t carry out credit checks, even people with poor credit can qualify for the loans. However, they come with extremely high-interest rates. The LendUp only gives out a few loans worth a few hundred dollars, which differs from one state to another state. 

Apart from the easy acceptance, the only other significant advantage of LendUp Loans is that they payout with two business days. Consequently, individuals should look for other lending options. 

Their loan application process is fast, and an applicant will get feedback instantly. However, to apply for a loan, you must have a checking account that is compactable to ACH transfers. The loan will be disbursed into your checking accounts the following business day. Regrettably, LendUp does not accept applications through saving accounts or credit cards. 

LendUp will automatically deduct the due payment amount from your checking account at every agreed interval. But if you wish to pay back the cash prematurely, you can use a MoneyGram, a check or a debit card. 


  • The LendUp loan application procedure is quick, and you receive feedback immediately
  • LendUp will transfer cash into your bank on the following business day after you’ve been authorized for a loan
  • It does not levy a prepayment penalty
    On the deadline, LendUp deducts the money from your bank account


  • It is not a suitable alternative for credit development because it does not report to the credit agencies
  • The loan amount varies: If you are a newcomer to LendUp, you can borrow at a cheaper interest rate since you will start at the bottom of the Ladder. For first-time customers, loan amounts may be more restricted and as low as $100.

6. Cash Net USA – Best for Vast Loan Ranges

CashNetUSA is a digital lender that offers a range of loans depending on your location, including installment loans, payday loans, and lines of credit. Loan amounts vary by state, but payday loans usually range from $100 to $600, while installment loans and lines of credit start at $100 and go up to $3,500.

Cash Net USA loans are available in just 29 states. The type and amount of loan you may be qualified for differ depending on where you live, so check CashNetUSA’s website for additional details.

CashNetUSA loans sometimes have higher APRs than other personal loan providers. According to the National Consumer Law Center, the maximum permissible interest rate is 36%.

CashNetUSA charges a fee for the cash borrowed. These loan charges, as well as the terms of repayment, will be decided by your location. In general, you may expect to pay a predetermined amount and a due repayment date that is usually as soon as your next paycheck.

When you need money quickly and are in need, a CashNetUSA short-term loan or line of credit may be a better alternative than a title loan. Title loans are dangerous since they require using your vehicle as collateral, and the lender can confiscate your vehicle if you fail to make payments as specified in your loan contract.


  • There’s a chance you’ll get cash shortly if your application is approved.
  • Even if you have bad credit or no credit, you might be able to qualify.
  • They are simple to apply for and offer a wide range of short-term credit choices.


  • Offers excessively high-interest rates
  • Fees vary based on where you are.

Features of Viva Payday Loans

  • They’re small-dollar loans, and the payday lenders impose varied loan-amount limits. The typical loan maximum is $20,000; however, it may be significantly more, or fewer
  • payday loans are often returned in full on the borrower’s next paycheck or whenever benefits such as a pension or Social Security become available. The loan must be returned within two to four weeks of the date issued, as specified in the payday loan agreement
  • To repay the loan, one must either send a post-dated check for the entire value, plus costs, or give the lender access to draw cash automatically from their bank, credit union, or prepaid card account. If you do not repay the loan by the deadline, the lender may cash the check or take funds from your account electronically
  • A payday loan provider will not examine your capability to pay back while still meeting your other financial obligations
  • The loan can be compensated or by cheque, deposited electronically into your account, or transferred onto a prepaid debit card

How to Get Loans Like Elastic

The following is a step by step process of applying for loans like Viva Payday Loans:

Step 1: Visit Viva Payday Loans

The first move is to visit To initiate the online application process, click the “Apply Now” button in the upper right corner of the screen.

Step 2: Complete The Application Form

You must complete an online form with your name, monthly costs, and income statistics as part of the application procedure.

Step 3: Get Your Decision

After filling out the form, wait for approval – it takes around two minutes for your loan to be accepted.  Even if your request is declined, you will be notified by email.

Step 4: Receive Your Loan


You will be required to electronically sign a loan agreement if your loan application is accepted. Ensure you have read the loan agreement’s fine print before signing. Funds will be sent immediately into your account within 24 hours of completing the completed loan agreement.

Request Your Loan Direct Deposit at Viva Payday Loans


Cash Central

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About Denzil Otieno PRO INVESTOR

A procurement graduate. Young business owner. A smart business investor.