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Mariner Finance was founded in 1927 and has more than 480 branches in 28 states. Its low minimum amount for personal loans — $1,000 — makes it a good fit for someone who doesn’t need or want to take out a big loan.
Mariner Finance allows co-signers and co-borrowers on its personal loan products. That means you can add a second party to the application or take out the loan with another individual to strengthen your approval odds. Not all lenders afford borrowers this opportunity, though, and Mariner Finance features a range of loan amounts with generous repayment periods to make your monthly payment more affordable.
Low minimum loan amount.
Apply online, by phone or at a branch.
Loans for borrowers with bad credit.
Branch visit may be required.
High APRs.
No rate discount with autopay.
Mariner Finance does not disclose credit score or income requirements. However, the lender evaluates personal loan applicants on the following criteria:
Personal loans are usually unsecured, but Mariner Finance also provides secured personal loans. A loan secured by your car, for example, may help you qualify for a lower rate or a bigger loan. Just remember, if you default on a secured loan, the lender can place a lien on the asset or sell it.
Personal loans from Mariner Finance are most often used to consolidate debt, cover home improvement costs, pay for big-ticket events like weddings and vacations, or to pay for other unexpected expenses. However, the lender does not disclose spending restrictions.
OneMain Financial also caters to individuals with varying financial backgrounds. Its APR range is also comparable to what you’ll get with Mariner Finance.
Borrowing costs are relatively steep with both lenders, but OneMain Financial also charges an origination fee up to 10 percent, a percentage of the amount you borrow or a flat rate, depending on your state or residence. So, a personal loan from Mariner Finance could be more affordable if both lenders offer the same rate and terms.
Avant is another lender with flexible eligibility criteria. You could be eligible for a loan of up to $35,000, which is slightly higher than Mariner Finance’s limit of $25,000. Plus, its starting interest rate of 9.95 percent makes it an even more attractive option if you can qualify.
Fast funding options are also available with Avant, and both lenders offer a mobile app to make it easier to manage your loan while on the go. Still, Avant charges an administration fee of up to 4.75 percent, which should be considered when weighing offers between the two companies.
Mariner Finance is great for those looking to borrow a small amount, but it carries higher interest rates than other lenders.
You can reach Mariner Finance by phone at 800-373-4004 or by visiting the nearest branch. Its hours of operation are not disclosed on the website.
You can apply for a Mariner Finance personal loan online, by phone or at a branch. Loans between $1,500 and $15,000 can be funded online. It takes about five minutes to complete the application, and then a Mariner Finance representative will contact you, usually on the same business day. Borrowers who apply online can typically receive funds two days after accepting an offer.
If you apply by phone, use the interactive map on the bank website to find the branch closest to you and call that branch.
Loans less than $1,500 or greater than $15,000 must be funded at a Mariner Finance branch. Mariner Finance has more than 480 branch locations in 28 states. If you apply in a Mariner Finance branch, you will need the following documents:
Applicants who close a loan by phone or online must have a mobile device or computer to access email and electronic documents.
Mariner Finance offers its borrowers a 15-day satisfaction guarantee. This means that is you are not happy with the loan terms and rate that you received you can have any fees or charges waived. Though, this refund is dependent on your ability to repay it in full within 15 days.
Mariner Finance discloses that it has fees, which vary by state — but doesn't list what these fees are. Look out for these types of additional costs when signing off on the loan, as it will be disclosed in the loan agreement.
| Overall Score | 4.1 | Explanation |
|---|---|---|
| Availability | 5.0 | Same-day approval is available, although Mariner Finance does not disclose specific eligibility requirements. |
| Affordability | 3.9 | Mariner Finance has a high minimum APR and a few fees. |
| Customer Experience | 4.1 | The option to visit a branch for help is a nice feature, but some borrowers will be required to do so in order to fund their loans. |
| Transparency | 3.3 | Mariner Finance offers prequalification but doesn't clearly list all of its fees and requirements. |
To select the top personal loan lenders, Bankrate considers 15 factors. These factors include credit requirements, APR ranges, fees, loan amounts and flexibility to account for a wide range of credit profiles and budgets. Bankrate reviewed 41 lenders and gave each a Bankrate rating, which consists of three categories:
Editorial disclosure: All reviews are prepared by Bankrate.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.
