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Mariner Finance Personal Loans: 2023 Review

Updated on Jan. 1, 2023
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At a glance

Rating: 4 stars out of 5
Bankrate Score
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Rating: 4.8 stars out of 5
Rating: 3.3 stars out of 5
Customer Experience
Rating: 3.8 stars out of 5

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.

Loan amount $1,000 – $25,000
APR from 18.99% – 35.99%
Clock Wait
Term lengths 12 to 60 months
This lender is best for borrowers with bad credit who may need a co-signed or joint loan.

Best for co-signed and joint loans

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.

Mariner Finance features

Here's a breakdown of some of the benefits and drawbacks of Mariner Finance personal loans.


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    Low minimum loan amount

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    Apply online, by phone or at a branch

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    Loans for borrowers with bad credit


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    Branch visit may be required

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    High APRs

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    No rate discount with autopay

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 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.

What Mariner Finance doesn't allow loans 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 versus OneMain Financial

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. 

Mariner Finance versus Avant

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. 


Mariner Finance: in the details

What we like and what we don't like

What we like:

  • Low minimum loan amount: The $1,000 personal loan minimum is good for people who don’t want or need to borrow a lot.
  • 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 borrowers who qualify.
  • 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 800-373-4004 or by visiting the nearest branch. Its hours of operation are not disclosed on the website.


Fees and penalties

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.

How to apply for a 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 470 branch locations in 24 states. If you apply in a Mariner Finance branch, you will need the following documents:

  • Valid, government-issued photo ID
  • Social Security card
  • Proof of residence (utility bill, lease, driver’s license)
  • Proof of income (pay stubs, tax returns, bank statements, Social Security award letters)
  • Recent tax return
  • Copies of bank statements, if self-employed

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

Mariner Finance FAQs

What credit score do you need to qualify for a personal loan with Mariner Finance? 

Mariner Finance does not disclose the minimum credit score needed to qualify for a personal loan. 

Can you get preapproved for a loan with Mariner Finance? 

Yes. You can check your rate online without impacting your credit score. 

Does Mariner Finance offer unsecured loans? 

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.  


How Bankrate rates Mariner Finance

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 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.