Get A Line Of Credit Through Elastic.com

When you need cash quickly, you often don't have time to wait for a bank or traditional

lending institution to process your loan application and release the fund to you. In those emergency situations, an emergency line of credit through Elastic.com might be a better solution. While you will probably pay a higher interest rate with this company, the expeditiousness of the application process is often worth the additional money. This article will explain the product offered by Elastic.com to help you decide if this is the right emergency loan option for you.

What is a Line of Credit?

Instead of providing a traditional loan product to its customers, Elastic.com opts for a line of credit that provides additional flexibility in both access and payment options. Once your line of credit is approved, the money may be deposited into your account as early as the next business day. When you need more money, your account is available to access for a low fee. This gives you the ability to access as much money as you need, when you need it, so you don't end up paying interest on more money than you needed to borrow in the first place.

When you are ready to pay back your line of credit, Elastic.com offers a variety of options here as well. First, you can pay back the line of credit balance on your due date to avoid additional finance charges on your loan.

If you don't have the full amount to pay back, you also have the option of making smaller monthly payments until the line of credit is paid in full. Monthly payment amounts include 10% of your outstanding balance, plus a flat fee that is calculated on the outstanding amount. If you prefer, you can have monthly payments automatically deducted from your checking account so you don't have to worry about forgetting a payment.

What is it Used For?

There are many reasons why an emergency line of credit through Elastic.com might come in handy. First, you can use your account to cover checks when the money in your account isn't there. The fees you pay on your line of credit will probably be much lower than the fees you would pay for NSF charges at your bank.

You can also use your line of credit to cover bills before payday. The fees charges for your line of credit may be much less than what you would pay in late fees if you waited to pay your bills until after payday.

Some people also access their line of credit when the unexpected arises, such as car repairs or the replacement of a major appliance that breaks down suddenly.

Elastic.com offers services to customers who need emergency cash in a hurry. It may be to stretch your funds until payday or cover unexpected expenses that might arise. With low flat fees and an easy to use line of credit option, this company has helped many individuals keep their finances in order without paying exorbitant fees to their bank or other companies during a severe cash crunch.

by: Janet Gaither

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