Mariner Finance offers personal loans that are targeted to borrowers with bad credit. Loan terms vary from 12 to 60 months. Most loan seekers might find their offers unattractive as they feature high interest rates and fees. Moreover, this lender has a bad customer service reputation and some reports of deceptive practices against them.
At a Glance: Mariner Finance Personal Loans
- Mariner Finance
- 18.99% to 35.99%APR Range
- NoneMinimum Credit Score
- $1,000 to $25,000Loan Amount Range
- 12 to 60 monthsRepayment Terms
- Next DayTime to Receive Funds
on Mariner Finance Website
Mariner Finance Personal Loan Details and Requirements
Personal loans from Mariner Finance have an APR of 18.99% to 35.99%.
Credit Score Requirements
Mariner Finance evaluates borrowers on a holistic basis, and they don’t have any credit score requirements.
Although Mariner Finance doesn’t publicize their income requirements, borrowers need to have a reasonable debt-to-income ratio to qualify.
Mariner Finance offers personal loans from $1,000 to $25,000.
Borrowers can settle their Mariner Finance personal loans in 12 to 60 months.
Mariner Finance personal loans can be used to consolidate debts, fund special occasions, make large purchases and more.
Mariner Finance’s website does not feature any limitations on the use of their personal loans.
Time to Receive Funds
Usually, Mariner Finance will respond regarding a loan application within the same business day.
Mariner Finance is not transparent about their policies on origination fees, but MoneyGeek’s research shows that they do charge them.
Borrowers who fail to pay their dues on time will be charged late payment penalties.
Prepayment Penalty Fees
Mariner Finance’s personal loans do not have prepayment penalties.
Co-signers and Co-applicants
Mariner Finance allows co-signers.
Borrowers can return their loan proceeds within 15 days without having to pay any fees.
Mariner Finance’s mobile app allows borrowers to manage their personal loans.
Is Mariner Finance Right for You?
Personal loan companies offer distinct features and requirements, and you may find some providers to be a better fit. MoneyGeek reviewed Mariner Finance’s personal loans to help you determine their suitability for your needs.
Who Mariner Finance Is Perfect For
Mariner Finance is best for poor-credit borrowers who are having a difficult time securing an approval elsewhere. They don’t have credit score requirements. Even better, applicants who have filed for bankruptcy can qualify. This lender has a fast evaluation process and typically provides a response within the same day.
Mariner Finance’s personal loans are comparable to borrowing from a payday lender. They have high interest rates and fees. Make sure to read their loan agreement and understand their terms carefully before finalizing the loan.
Who Should Not Choose Mariner Finance
Mariner Finance is not the best choice for most borrowers. Their APRs are high, and they aren’t transparent with their fees. Since their website offers limited information, it’s difficult to compare their offers with other providers.
While charging late payment penalties is not unusual, Mariner Finance charges fees for payments made online or over the phone. They’ve also received numerous complaints about their potentially deceptive practices of sending live checks to pre-screened individuals. Lastly, Mariner Finance’s loans are not available in 23 states.
How to Apply for a Mariner Finance Personal Loan
MoneyGeek detailed the necessary steps when getting a loan from this company. Note that Mariner Finance can only process your loan application online if you’re borrowing $1,500–$7,000. Otherwise, you may be required to visit any of their 480 branches and submit your application in person.
Visit Mariner Finance’s personal loans page and click the apply button. You’ll be asked to provide your personal information, income details and your preferred loan amount. Mariner Finance will then conduct a soft credit pull to assess your application. If passed, they’ll provide your loan options.
Fill Out Application Form
Based on your desired loan amount, you can either continue the process online or through a Mariner Finance branch. If you’ve proceeded online, you’ll be asked to submit additional documents and e-sign an authorization for a hard credit pull.
Wait for Approval
Mariner Finance will now review your application — they usually give their decision within the same day.
Review Loan Agreement
If you’ve passed their criteria, Mariner Finance will provide a loan agreement containing your final loan amount and interest rate. Review all the details in the document carefully.
Sign Loan Agreement
Once you feel confident with the document, you can e-sign Mariner Finance’s loan agreement.
Receive or Direct Funds
Once the loan is approved, it can take 1–2 days to receive the funds.
Following disbursement, Mariner Finance will expect repayment of the personal loan following your loan agreement’s schedule. To avoid additional charges, it’s best to sign up for autopay or pay your loan at one of their branches.
What to Do if You Are Rejected From Mariner Finance
Despite going through their process and submitting all required documents, Mariner Finance can still decline your loan application. This can happen due to an unstable source of income, irregularities with the documents submitted and other factors related to your creditworthiness.
Having your personal loan application disapproved can be frustrating. However, you can still reach out to Mariner Finance to clarify why they rejected your application. By identifying the reason for rejection, you know in which area you need to improve your application.
It’s recommended to address the issue or issues associated with your creditworthiness first before applying to another lender. Without this step, the new lender may also reject your application for similar findings. Keep this in mind for the sake of saving yourself time.
You can pay off some of your existing debts or find a way to increase your income before applying anew. You can also consider applying for a lower loan amount or getting a secured loan. Likewise, you can apply with a cosigner to increase the chance of loan approval.
Frequently Asked Questions About Personal Loans
MoneyGeek reviewed Mariner Finance’s personal loans and broke down their pros and cons. Since our findings apply to a general audience, your individual needs and situation will determine the best lender for you. We answered some frequently asked questions to help you weigh this lender’s overall value proposition.
Read More on Personal Loans
- Mariner Finance. "Frequently Asked Questions." Accessed April 20, 2022.
- Mariner Finance. "How to Apply for a Personal Loan." Accessed April 20, 2022.
- Mariner Finance. "Personal Loans." Accessed April 20, 2022.
The content on this page is accurate as of the posting/last updated date; however, some of the rates mentioned may have changed. We recommend visiting the lender's website for the most up-to-date information available.
Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, lender or other entity. Learn more about our editorial policies and expert editorial team.