Loans » Personal Loan Lender Reviews » Mariner Finance Loan Review 2021
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Mariner Finance Loan Review 2021

Mariner Finance is a personal financial company that was started in 2002 out of Maryland. They focus on only a few lending products: personal, auto, and home. They operate in 22 states with over 450 branches. Mariner Finance works with borrowers who might have poor or limited credit histories.

Some products that appear here are from companies from which this website receives compensation. This may impact how and where products appear on this site (including, for example, the order in which they appear). This compensation allows us to maintain a full-time, unbiased editorial staff. Our opinions are our own.

In this Review..

Mariner Finance provides personal loans both at physical branches and online. The branch locations have loan officers who will assess and approve loan applications. This offers the opportunity for people in a tough financial situation to explain their circumstances. 

Mariner Finance requires a minimum credit score of 600 for personal loans. You can borrow $1,000 to $25,000 at an APR of 24 to 36%. This is a high minimum APR, but Mariner may consider underwriting factors such as credit history, level of debt and income to determine approval. There is also the option to add a co signer to strengthen your loan application. 

If your loan is above $10,000, Mariner may require that you secure your loan with an asset, such as a car. However, to ensure the funds are received quickly by new customers, Mariner has a loan by mail offer. This involves a “live check” that you can sign and cash. This type of personal loan does not require an application, as Mariner will solicit consumers based on credit report information. 

Mariner Finance requires a minimum credit score of 600. You can borrow $1,000 to $25,000 at an APR of 24 - 36%, which is quite high but can be good for fair and even poor credit


24.00%- 36.00%

Loan Amount

$1,000 -$25,000 (Varies by state)


12 to 60 months

Min score


Mariner Finance is a personal finance company that was started in 2002 out of Maryland. They focus on only a few lending products: personal, auto, and home. They operate in 22 states with over 450 branches. Mariner Finance works with borrowers who might have poor or limited credit histories. Their personal loans are a great alternative to payday or title loans. They are competitive for borrowers with bad credit

Mariner Loan Pros & Cons

As we know, each lender has its own pros & cons – here are the relevant things we found for potential borrowers:



Loan Details

Here are the basic specifications & requirements of Mariner Finance Personal Loan :

What Can a Mariner Finance Personal Loan Be Used For?

Personal loans with Mariner Finance can be used for home improvement, unexpected expenses, vacations, weddings, and debt consolidation. You cannot use their personal loans for purchasing real estate, business purposes, investments, purchasing securities, postsecondary education, or as short-term bridge financing.

Mariner Finance home improvement loans are for home repairs or renovations. The advantage of using a Mariner Finance home improvement loan is that you do not have to use your home as collateral and you get funds much quicker with less documentation.

Typically, it takes a month or more to get an equity line of credit on your home, whereas with Mariner Finance, turnaround time is usually one to two days.

Mariner Finance personal loans can help fund that dream vacation you have always wanted. The advantage of using a personal loan over a credit card in this situation is that you can make a budget for how much you really want to spend and know how much your monthly cost will be over the life of the loan.
Using Mariner Finance for an engagement ring will reduce the overall cost of one of the biggest purchases of your lifetime. You can also use the funds for other wedding expenses to help pay for your dream wedding day.

Mariner Finance debt consolidation is paying off one or more prior unsecured loans with the new personal loan. Instead of multiple payments to multiple lenders, you can create one payment to one lender. The idea is that you can take a high revolving interest credit card and save money by replacing it with a low rate fixed installment.

However, Mariner Finance has high-interest rates, so consolidating some credit cards may not make sense for you. Always check the rates you are currently paying.

Life happens, and you can use a Mariner Finance personal loan for those unexpected expenses. When your furnace goes out or you need some funds for a car repair, Mariner Finance has a quick turnaround time for those types of unexpected events.

Mariner Loan Reputation

  • NR on BBB: Mariner wasn't rated on BBB. BBB assigns ratings from A+ (highest) to F (lowest). BB ratings are based on information in BBB files with respect to factors such as the business's complaint history with BBB, type of business, time in business, transparent business practices, and more.
  • J.D Power: Mariner wasn't rated in the 2020 research. We considered J.D. Power’s lending consumers satisfaction study. J.D Power offers the most comprehensive and independent study of personal loans consumer satisfaction  . The study aims to help consumers and issuers to understand user opinions and ratings of top lenders. It covers terms, benefits, services, communication, transparency and more. 

J.D. Power U.S. Lending Consumer Satisfaction 2020

In order to avoid bias based on a small number of reviews, we present only ratings with at least 200 reviews.

Application Process

Mariner Finance allows borrowers to apply online, over the phone at (877)-310-2373, or in person at a local branch. Online applications will not always be offered the same terms as in-person applications. (link) Terms are different depending on your state. You can talk to your local branch or speak to someone on the phone to see what the fees and terms are in your case. Mariner’s online application allows you to do a soft pull on your credit in order to check your options, terms, and fees. Some applications may require the applicant to apply in person.

Mariner Finance Personal Loan

Applying online is an easy process that usually takes less than 10 minutes. From the home page you click on “Check My Offers.” You then put in the desired amount you would like to apply for, and continue. Next, you fill out an application. You will need to provide your name, address, date of birth, social security number, income and employment information, housing obligations, and the purpose of the loan. You will also set up a password. Mariner Finance will then do a soft pull.

The soft pull does not affect your credit. At this point, Mariner Finance will let you know if you qualify for a loan and the options for which you may qualify. You can customize your amount and terms based on your needs. Once you have found the loan for which you would like to apply, you click “Apply Now” and Mariner Finance will do a hard credit pull.


Mariner Finance Personal Loan

Mariner Finance will then ask for verification of the information you provided. This may include an ID, proof of income, bank statements, and proof of residence. Most of the time this takes place at local branch. Mariner Finance usually takes less than a day to send you an approval or a decline. If approved, your funds will be deposited either into your bank account if you applied online, or via check if your loan was closed at a physical branch.

Then Upgrade does a soft pull to see what loan options they have for you. You can get an idea of how much you’ll be paying for before they do a hard pull inquiry on your credit. You may get a notification that the application has been declined. If you decide to move forward you will need to answer more verification questions, and allow a hard credit pull.

Mariner Finance Personal Loan

If Upgrade approves your credit application you will need to submit supporting documentation verifying your identity and your income. You will also need to provide verifiable banking information in a valid email address. The process is relatively quick in that the average turnaround time for Upgrade is 4 days. Once the information has been verified you will need to sign loan documents.

If you are self-employed, Upgrade has a more rigorous verification process than some other lenders may have. They require 2 years of taxes including K -1’s and bank statements. If you are self-employed please review Upgrade’s requirements and how they calculate income.

Mariner Finance requires a minimum credit score of 600. You can borrow $1,000 to $25,000 at an APR of 24 - 36%, which is quite high but can be good for fair and even poor credit


24.00%- 36.00%

Loan Amount

$1,000 -$25,000 (Varies by state)


12 to 60 months

Min score


Alternatives Lenders For Consideration

Here are our 3 choices of lenders which can use as a great alternative to Mariner personal loan: 

Marcus is an online only lender offered by Goldman Sachs. It offers personal loans with no fees including late fees, prepayment fees or sign up fees. Since you’re only required to pay the principal loan sum and interest, the interest rates are a little higher than the competition. However, this can be a good option for those with a good credit score who want to avoid annoying fees.

Where Marcus personal loans are a little different is that there is the option of prequalification. If you’re not sure if you will be eligible for a loan, you can complete a basic, short form. This only involves a soft check, so you can avoid triggering a hard credit check and potentially compromising your credit score. Prequalification will allow you to check and compare your Marcus loan options.

You can also receive a 0.25% discount if you opt for autopay. This involves a larger portion of your monthly payment being applied to the loan principal, so less interest will accrue on your account. You can have a loan with a term from three to six years.

Upgrade is an online direct lender established in 2017. The company offers both personal loans and lines of credit called “Upgrade Card”. To date, 8 million people have applied for an Upgrade personal loan or Upgrade Card.

According to representatives, Upgrade looks for a credit score of at least 620. However, the company may consider other factors to establish your creditworthiness.

One issue to be aware of is the Upgrade fees. While there is no prepayment fee, Upgrade charges an origination fee of 2.9 to 8% on personal loans. There is also a $10 late payment fee, which applies after a 15 day grace period.

As its name suggests, Payoff Loans offers debt consolidation for borrowers with good credit. This is solely to repay existing debt, including credit cards.

Although Payoff does not force you to pay your credit card debt, they make this recommendation to keep your finance on track. This includes quizzes to assess your financial abilities and resources to help you reach your financial goals.

According to Payoff, this insight empowers borrowers to continue making smart financial decisions.

Mariner Finance Loan is Best for..

Mariner Finance is best for borrowers with poor or little credit. They are a good alternative to payday loans. They may be a good fit for you if you have trouble getting financing through traditional methods. If you have ok to excellent credit, you should look at other personal loan providers

They will have better rates and fees. Mariner can be used if you need money quick to get out of a financial jam, but once you take a loan out with them you should look for other companies that will provide a much more reasonable rate.

The major drawback to upgrade is their origination fee. There are other lenders who do not charge this fee, which can be pretty high and will add to the overall cost of your loan.

Loan Reviews Methodology

When it comes to choosing personal, student or car loans, we make sure that we evaluate all of the different products and services that are available for the lender we review. 

The Smart Investor’s selection of loan providers for inclusion here was made based on key areas we evaluated: loan types and loan products offered, fees, and APR. We also considering customer satisfaction and reliable external ratings such as J.D power/Trustpilot.

Cutting fees is now table stakes in the personal and student loans market. In addition, the most valuable loan products tend to offer a deep bench of options that meet a wide array of customer needs. These include a diverse range of loan amounts and terms, as well as loan structures. We also make sure that you’re going to save money by cutting down on the APR that goes along with the loans offered.