The loan application process is fairly simple. Potential borrowers can apply online and receive a response immediately. Here is an outline of what the application and approval process looks like: Apply online: To apply, you’ll need to enter your personal information and be able to verify your identity. As you fill out the application, Elastic will check your credit history to determine whether you qualify. Find out if you’re approved: The approval process is quick so you should know immediately if you qualify for a line of credit. Once you’re approved, you can borrow money at any time. Receive a direct deposit: If you qualify for a line of credit, you can opt for direct deposit. If you do this, your cash will be deposited directly into your account the next business day. Set up a payment schedule: One of the benefits of taking out a line of credit is that you don’t have to use the full amount available to you — and you only have to repay what you actually borrow.