Personal Finance Loans Personal Loans
Written by Ryan Wangman, CEPF; edited by Richard Richtmyer
- Who Is Mariner Finance Best For?
- Mariner Finance Personal Loan Details
- Mariner Finance Personal Loan Pros and Cons
- How to Apply for a Mariner Finance Personal Loan
- Mariner Finance Frequently Asked Questions
- Mariner Finance vs. OneMain Financial
- Mariner Finance vs. Avant
- How we rated Mariner Finance
Affiliate links for the products on this page are from partners that compensate us (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate personal loans to write unbiased product reviews.
Compare Personal Loan Rates
Who Is Mariner Finance Best For?
Mariner Finance is best for borrowers with poor credit who may not be eligible for a loan elsewhere. The lender also offers secured loans, which isn't very common for personal loan lenders. You might qualify for a better rate and larger loan amount if you pledge collateral to get your loan.
On the other hand, you can get much better rates with another lender if your credit is in decent shape. If you don't live in one of the states Mariner Finance serves, you won't be able to get a loan with the company at all.
Mariner Finance Personal Loan Details
Mariner Finance has personal loans that range from $1,000 to $25,000. You'll be able to get a loan amount between $1,500 and $15,000 online, but loans outside that range will require you to visit a branch in person.
The lender offers both secured and unsecured personal loans. The difference between the two is that you need to put up collateral for a secured loan, while you don't need to for an unsecured loan. All of Mariner Finance's loans have fixed interest rates, meaning your rate will stay the same over the life of your loan.
Your APR will range from 15.49% to 35.99%.. Compared to other lenders designed for borrowers with bad credit, this range is similar. For instance, you'll get rates between 18.00% to 35.99% with OneMain Financial, and between 9.95% to 35.99% with Avant.
Borrowers can use personal loans for a variety of purposes, including home improvement projects, medical bills, and even vacations (though be careful before you jump to do so). Mariner Finance offers repayment term lengths from 12 to 60 months.
Mariner Finance Personal Loan Pros and Cons
How to Apply for a Mariner Finance Personal Loan
1.Fill out a loan application on Mariner Finance's website. You'll put in basic contact information, citizenship status, and home address, as well as your desired loan amount and loan purpose.
2.Receive an approval decision within minutes. Mariner Finance will conduct a soft credit check to generate your rates, which won't impact your credit score. If you're approved, you'll be able to review your personalized loan offers.
3. Verify your information. After sending in a formal application, Mariner Finance may ask you to send in proof of income, like a W-2, tax returns, or other financial documents.
4.Accept the money and work on a repayment plan. The lender will send the money to your bank or you can pick up a check at a local branch. Work your monthly payments into your budget, and make sure you have enough money to cover all of your financial responsibilities.
Mariner Finance Frequently Asked Questions
Does Mariner Finance accept bad credit?
Yes, Mariner Finance is accessible to borrowers with bad credit. The lender has no listed minimum credit score, while other lenders require credit scores in the mid-to-high-600s to qualify for a loan. Mariner Finance will take your entire financial situation into account before making a loan decision, not just your credit score.
Does Mariner Finance do a credit check?
When you apply for a loan and check your rates, Mariner Finance performs a soft credit check, which doesn't show up on your credit report and won't affect your score. If you choose to move forward with the loan process, the company will generate a hard credit inquiry, which gives the lender a comprehensive view of your credit history and may negatively impact your credit score.
How long does it take to get approved by Mariner Finance?
You'll usually get a response from the company within the same business day you apply, and if you are approved, you'll receive your money within one to three business days.
Mariner Finance Trustworthiness
Mariner Finance has an A+ rating from the Better Business Bureau, a nonprofit organization focused on consumer protection and trust. The BBB evaluates businesses by looking at their transparency in business practices, honesty in advertising, and responses to customer complaints.
Mariner Finance has a top-notch BBB score, but that doesn't necessarily mean you'll have a good experience with the company. Reach out to people you know who have used the company to get a firsthand account of what the lender is like.
There have been no recent controversies involving Mariner Finance. Between the company's great BBB grade and clean history, you may feel comfortable borrowing from the lender.
Mariner Finance Personal Loans Competitors
Mariner Finance vs. OneMain Financial Personal Loan
Both lenders cater to borrowers with poorer credit histories. OneMain Financial has a minimum credit score of 600 and Mariner Finance don't have a minimum credit score.
OneMain Financial charges an origination fee ranging from $25 to $400, or 1% to 10% of the loan's value. Avant has up to 4.75% in administration fees with an undisclosed late fee and returned payment fee. Mariner Finance doesn't have an origination or administration fee.
Related: The best personal loans with no origination fee »
Mariner Finance vs. Avant Personal Loan
Avant has an a up to 4.75% in administration fees with an undisclosed late fee and returned payment fee, which will be deducted from your loan proceeds when the loan is funded. Mariner Finance doesn't have an origination or administration fee.
Both lenders will usually disburse your money in one business day, so they could be a good option for borrowers who need money fast. You'll pay the same maximum interest rate of 35.99% with both lenders, and Avant offers the lowest starting rate.
Why You Should Trust Us: How We Rated Mariner Finance
We rate all personal loan products in our reviews and guides on a 1-5 scale. The overall rating is a weighted average that takes into account seven different categories, some of which are judged more heavily than others. They are:
- Interest rate (20% of rating)
- Fees (20% of rating)
- Term lengths and loan amounts (15% of rating)
- Funding speed (15% of rating)
- Borrower accessibility (15% of rating)
- Customer support (7.5% of rating)
- Ethics (7.5% of rating)
Each category's weighting is based on its importance to your borrowing experience. Rates and fees have the most direct impact on the overall cost of your loan, so we weigh those the most heavily. Customer support and ethics are still very important parts of the borrowing experience, but do not directly tie to a personal loan's terms, so they have less of an impact on the overall rating.
See more on how we rate personal loans >>
Loans Reporter
Ryan Wangman was a reporter at Personal Finance Insider reporting on personal loans, student loans, student loan refinancing, debt consolidation, auto loans, RV loans, and boat loans. He is also a Certified Educator in Personal Finance (CEPF).In his past experience writing about personal finance, he has written about credit scores, financial literacy, and homeownership. He graduated from Northwestern University and has previously written for The Boston Globe.
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