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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.
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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.
15 day satisfaction guarantee.
Apply online, by phone or at a branch.
Secured and unsecured options available.
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 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.
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 and it's APR range is comparable to what Mariner Finance offers.
While borrowing costs can be steep with both lenders, OneMain Financial does charge an origination fee — a percentage of the amount you borrow or a flat rate, depending on your state or residence — up to 10 percent. Mariner Finance doesn't charge an origination fee, so it may be the more affordable option for creditworthy borrowers.
Avant is similar to Mariner Finance in its eligibility criteria, maximum APR and terms. However, the primary difference between the two lenders is that Avant offers a loan maximum of $35,000, $10,000 more than Mariner finance. Plus, Avant borrowers could qualify for a more competitive rate with its starting APR of 9.95 percent being one of the most competitive on the market for fair-credit loans.
Both lenders offer a mobile app fast funding and low minimum amounts. Still, Avant charges an administration fee of up to 4.75 percent, which can increase the cost of your loan significantly if you're offered similar terms and rates between the two lenders.
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 800-310-2373 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.
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 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.
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 best personal loans, Bankrate’s team of experts evaluated over 30 lenders. Each lender was ranked using a meticulous 20-point system, focusing on four main 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.