Mariner Finance requires a minimum credit score of 500. You can borrow $1,000 to $25,000 at an APR of 24 - 36%, which is quite high but can be good for fair and even poor credit
APR
18.99% - 35.99%
Loan Amount
$1,000 - $25,000
Term
12 - 60 months
Min score
500
Mariner Finance requires a minimum credit score of 600. You can borrow $1,000 to $25,000 at an APR of 24 - 36%, which is quite high but can be good for fair and even poor credit
APR
18.99% - 35.99%
Loan Amount
$1,000 - $25,000
Term
12 - 60 months
Min score
500
Our Verdict
Mariner Finance offers personal loans to help people who need money for various reasons. Whether you want to consolidate debts, fix up your home, or cover unexpected expenses like car repairs, Mariner Finance can provide a loan to help you out. You can apply for these loans online, by phone, or at one of their branches.
With Mariner Finance personal loans, you can borrow amounts ranging from $1,000 to $25,000, depending on where you live and your financial situation. The repayment terms can be between 12 and 60 months, giving you flexibility in paying back the loan.
One good thing about Mariner Finance is that they offer both secured and unsecured loans. Secured loans require you to put up something valuable, like your car, as collateral, while unsecured loans don't need any collateral. They also allow co-signers, which can help you get better rates or qualify for a loan if your credit isn't great.
However, it's essential to know that Mariner Finance charges interest rates that can be a bit high compared to some other lenders.
Meeting Mariner Finance Loan Requirements
Before applying for a personal loan with Mariner Finance, it's essential to understand the requirements. Here are the key criteria you need to meet:
Credit Score Requirements: Mariner Finance doesn't specify a minimum credit score, but they consider factors like credit history and income. Even if you have bad credit or a history of bankruptcy, you may still qualify.
Income Requirements: While specific income requirements aren't disclosed, Mariner Finance evaluates your income along with other factors when considering your application. Having a steady source of income is important.
Co-signers and Co-applicants: Mariner Finance allows applicants to include a co-signer or co-applicant on their loan. Adding a creditworthy co-signer can increase your chances of approval or help you secure better rates.
Documentation: Along with your application, you'll need to provide documentation such as a valid ID, proof of residence, proof of income, and possibly additional financial documents as requested by Mariner Finance. These documents help verify your identity and financial stability.
Collateral: If you're applying for a secured loan, you'll need to offer collateral, such as your car, to secure the loan. This can help you qualify for better rates, but it's essential to understand the risks involved if you're unable to repay the loan.
Mariner Finance Personal Loan Pros & Cons
Like all lenders, Mariner Finance has its own set of advantages and drawbacks that potential borrowers should consider:
Pros | Cons |
|---|---|
Co-signer Options |
High Rates |
Soft Pull Inquiry | Sign at Branch |
No Prepayment Fees | Not Available in All States |
Reporting to Credit Bureaus | Origination Fee |
Satisfaction Guarantee | Lower Maximum Loan Amount |
Secured Loan Availability | |
Consideration for Bad Credit |
- Co-signer Options
Borrowers can include a creditworthy co-signer on their loan application, potentially improving their chances of approval or securing better loan terms.
- Soft Pull Inquiry
Mariner Finance does an initial soft pull inquiry so the borrower can get an idea of the options for which they may qualify.
- No Prepayment Fees
Mariner Finance does not have a fee for paying your loan off early.
- Reporting to Credit Bureaus
Timely payments are reported to all three major credit bureaus, providing an opportunity to improve or rebuild credit over time.
- Satisfaction Guarantee
Mariner Finance offers a 15-day satisfaction guarantee, allowing borrowers to return the loan amount without fees if they change their mind.
- Secured Loan Availability
Borrowers can opt for secured loans by offering collateral, such as a vehicle, which may result in lower interest rates or higher loan amounts.
- Consideration for Bad Credit
Mariner Finance may approve loans for individuals with damaged credit or a history of bankruptcy, offering opportunities for those who may struggle to qualify elsewhere.
- High Rates
If you have good to excellent credit history and strong cash flows you can find better rates elsewhere.
- Sign at Branch
Mariner Finance requires most of their borrowers to visit a branch to review the loan and sign loan documents. Many other personal loan providers use an application process that can all be done online.
- Not Available in All States
Mariner Finance is only available in 27 states. You can use their branch locator to see if they are available in your state.
- Origination Fee
Mariner Finance deducts a one-time origination fee amount directly from your loan funds. This should be considered in the pricing of your loan when you apply.
- Lower Maximum Loan Amount
Mariner Finance's maximum loan amount of $25,000 may be insufficient for borrowers needing larger sums for major expenses.
Mariner Finance Customer Experience
Customer reviews for Mariner Finance vary, with some expressing satisfaction with the loan process and customer service, while others report dissatisfaction. The company has received an A+ rating from the Better Business Bureau, indicating a level of trustworthiness.
However, its customer service rating of 2.3 out of 5 suggests room for improvement. Trustpilot rates Mariner Finance at 4.4 out of 5 stars based on nearly 300 reviews, indicating generally positive feedback but still with some areas of concern.
Mariner | |
|---|---|
iOS App Score | 4.6
|
Android App Score | 4.4
|
BBB Rating | A+ |
Contact Options | phone |
Availability | 9 am – 5 pm |
Additional Insights to Keep in Mind
Before applying for a personal loan with Mariner Finance, it's important to understand additional factors that could impact your borrowing experience:
-
What is the funding time?
The funding time for a Mariner Finance personal loan can vary depending on factors such as the completion of the application process and verification of information.
In some cases, loans may be approved and funded on the same business day, providing borrowers with fast access to funds.
However, the exact timing of funding may also depend on the chosen disbursement method, such as direct deposit to a bank account or picking up a check at a local branch.
-
What Can a Mariner Finance Personal Loan Be Used For??
Is Mariner Loan Right for You?
If you're considering applying for a Mariner personal loan, several factors can help determine if it's the right choice for :
- Individuals with damaged credit: Mariner Finance considers applicants with damaged credit or a history of bankruptcy, providing options for those who may struggle to qualify elsewhere.
- Those seeking flexibility in loan terms: With options for both secured and unsecured loans, as well as repayment terms ranging from 12 to 60 months, Mariner Finance accommodates borrowers looking for flexibility to tailor their loan to their needs.
- Applicants requiring co-signer assistance: Mariner Finance allows the inclusion of a creditworthy co-signer on loan applications, potentially improving approval chances or securing better loan terms for individuals with limited credit history or income
How to Apply For a Personal Loan With Mariner Finance
Applying online is an easy process that usually takes less than 10 minutes. From the home page you click on “Check My Offers.” You then put in the desired amount you would like to apply for, and continue.
Next, you fill out an application. You will need to provide your name, address, date of birth, social security number, income and employment information, housing obligations, and the purpose of the loan. You will also set up a password. Mariner Finance will then do a soft pull.
Mariner Finance will then ask for verification of the information you provided. This may include an ID, proof of income, bank statements, and proof of residence. Most of the time this takes place at local branch.
Mariner Finance usually takes less than a day to send you an approval or a decline. If approved, your funds will be deposited either into your bank account if you applied online, or via check if your loan was closed at a physical branch.
Compare Alternative Lenders
Mariner vs OneMain vs NetCredit
All three of these lenders have a lot of similarities. They each cater to people with poor credit scores and can have quite high rates of interest.
NetCredit and OneMain are very good for providing fast access to funds, while these all offer small loans. Out of all of these offerings, OneMain stands out the most when it comes to its range of options.
Read Full Comparison: OneMain vs Mariner Finance vs Netcredit: Which Personal Loan Is Better?
Personal Loans Online Marketplaces
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APR Range
The annual percentage rate (APR) is the total annual cost of borrowing money. This rate includes the interest rate as well as any additional finance charges. When you take out a personal loan, for example, you may be required to pay loan origination fees.
| 7.49% – 35.99%
| 4.99% – %35.99
| 5.99% – 35.99%
|
Term
The term of your loan is the amount of time you have to repay it. For example, if you get a 24 months personal loan, the loan term is 24 months.
| 12-84 months | 6-84 months | 3-72 months |
Loan Amount | $600 – $200,000 | $1,000 – $100,000 | $1,000 – $35,000 |
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