Mariner Finance Personal Loans: 2023 Review

Do you qualify?

Mariner Finance does not disclose credit score or income requirements. However, the lender evaluates personal loan applicants on the following criteria:

• Credit history.
• Income.
• Debt payment obligations.
• Availability of collateral, if needed.

Personal loans are usually unsecured, but Mariner Finance also provides secured personal loans. A secured loan is easier to qualify for and typically offers better rates because the balance is backed by collateral — an asset, like a car — and thus, the lender incurs less risk. 

However, secured loans come with more risk for the borrower. Should you fail to make your payments for an extended period of time or default on the loan, the lender has the legal authority to seize your collateral to satisfy your delinquent balance.

What Mariner Finance doesn't allow loan funds to be used for

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.

Mariner Finance: in the details

What we like and what we don’t like

Mariner Finance is great for those looking to borrow a small amount, but it carries higher interest rates than other lenders.  

What we like

• Low minimum loan amount: The $1,000 personal loan minimum is ideal for those in need of a smaller loan.
• Apply online, by phone or at a branch: Unlike online-exclusive lenders, Mariner Finance offers several ways to apply for a personal loan, and you can pick up your check at a branch if you live near one.
• Loans for borrowers with bad credit: People with bad credit who have filed for bankruptcy or need a joint applicant or a co-signer may qualify.

What we don’t like

• Branch visit may be required: You must apply at a branch for a personal loan of less than $1,500 or more than $15,000, and branches are limited to 24 states.
• High APRs: Starting at 18.99 percent APR, Mariner Finance’s interest rate range is high. Lower rates can be found elsewhere for qualified borrowers.
• No rate discount with autopay: Unlike many personal loan lenders, Mariner Finance does not offer a rate discount with autopay.

How to contact Mariner Finance 

You can reach Mariner Finance by phone at 800-310-2373 or by visiting the nearest branch. Its hours of operation are not disclosed on the website.

You can also submit a form on its website under the "customer support" tab. Here, you'll be able to submit any questions, concerns or complaints you have, and a customer representative will contact you via the information you provide.

How to apply for a personal loan with Mariner Finance

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:

• Valid, government-issued photo ID.
• Social Security number.
• Proof of residence, such as a utility bill, lease or driver’s license.
• Proof of income, such as pay stubs, tax returns or bank statements.

Applicants who close a loan by phone or online must have a mobile device or computer to access email and electronic documents.

Features and additional perks

Mariner Finance offers its borrowers a 15-day satisfaction guarantee. This means that if you are not happy with the loan terms and rate that you received you can have any fees or charges waived. 

However, this refund is dependent on your ability to repay the loan in full within 15 days in cash or certified funds.

Fees and penalties

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.

Mariner Finance frequently asked questions

Methodology

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.