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Mariner Finance was founded in 1927 and has more than 470 branches in 24 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.
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About Bankrate Score
Mariner Finance was founded in 1927 and has more than 470 branches in 24 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 loans are between $1,500 and $20,000 with repayment periods of up to 60 months. The lender’s APR is also comparable to what you’ll get with Mariner Finance - between 18.00 percent and 35.99 percent. 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, you 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 your credit profile gets you access to this rate. Fast funding options are also available with Avant, and both lenders offer a mobile app on GooglePlay and the AppStore that make it easier to manage your loan while on the go. Still, Avant charges an administration fee of up to 4.75 percent that should be considered when weighing your options to determine which lender is the better option.
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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.
Mariner Finance has no prepayment penalty and no origination fee. However, a representative from the company says that you may be charged a document tax and a $25 credit investigation fee.
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 470 branch locations in 24 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 does not disclose the minimum credit score needed to qualify for a personal loan.
Yes. You can check your rate online without impacting your credit score.
Yes. Mariner Finance offers unsecured loans that do not require collateral. You may also be offered a secured personal loan, depending on your creditworthiness and financial profile.
Overall Score | 4.0 | |
Availability | 4.8 | Same-day approval is available, although Mariner Finance does not disclose specific eligibility requirements. |
Affordability | 3.3 | Mariner Finance has a high minimum APR and a few fees. |
Customer Experience | 3.8 | 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. |
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.