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Our goal here at Credible is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders, all opinions are our own.

Best for:

  • Borrowers with poor credit or no credit score
  • Unexpected expenses

Mariner Finance specializes in serving borrowers with poor credit, and has more than 450 branch offices in two dozen states. Here’s what you should know about getting a personal loan from Mariner Finance.

In this post:

Mariner Finance interest rates and loan details

Mariner Finance offers personal loans as small as $1,000 and as large as $25,000, depending on your state of residence. Although there’s no minimum credit score to qualify for a Mariner Finance loan, interest rates run as high as 36%, and you may also be charged upfront origination fees.

Mariner Finance personal loans
Fixed ratesUp to 36% APR
Loan size$1,000 to $25,000 (minimums and maximums varies by state)
Loan termsUp to 5 years
Min. credit scoreNone
Time to get fundsTypically within 2 business days
  • Unspecified origination fees
  • No prepayment penalty
Loan useDebt consolidation, unexpected expenses, home improvements, vacation, weddings
Key benefits
  • Check rates with "soft" credit inquiry
  • No prepayment penalty
  • U.S. citizenship not required
  • Not available in 26 states
Best for:
  • Unexpected expenses

Mariner Finance personal loan review

Mariner Finance specializes in providing personal loans for bad credit — close to 40% of Mariner Finance’s customers have a FICO score of 620 or less. They’ll even consider you if you’ve filed for bankruptcy, as long as you meet other qualifying requirements.

The downside to taking out a personal loan with poor credit is you’ll often pay a higher interest rate. Mariner Finance charges borrowers that it considers high-risk up to 36% interest.

But there’s no harm in checking to see what rates you can qualify for, since Mariner Finance uses a “soft” credit pull to provide personalized rates. When requesting rates, be sure to note whether you’ll also be charged upfront origination fees, which will be reflected in the APR.

Explore More: Personal Loans for Bad Credit

Best uses for Mariner Finance personal loans

Mariner Finance advertises that its personal loans can be used for:

  • Debt consolidation
  • Unexpected expenses
  • Home improvements
  • Vacations
  • Weddings

The company has relationships with thousands of retailers and home improvement contractors across the country, who recommend Mariner Finance loans to pay for goods and services.

But given the high interest rates many borrowers will pay, Mariner Finance loans may be best for unexpected emergency expenses like car repairs and medical bills.

There’s no prepayment penalty if you want to pay your Mariner Finance loan off early, which can be a smart move if you’re paying a high interest rate.

How to qualify

Mariner Finance is unusual in that it provides both unsecured and secured personal loans. If you’re having trouble getting approved, or are hoping to get a lower rate, you may be able to use your car or other valuable property as collateral for a loan.

About one-third of the loans Mariner Finance makes are secured by collateral. You can also apply with a cosigner, who does not have to be a family member.

An analysis of more than 100,000 recent Mariner Finance loans sheds some light on who the company likes to lends to, as well as the typical loan size and interest rate:

  • Average FICO score: 631
  • Average loan size: $2,698
  • Average interest rate: 27.16%

If you live in one of the 24 states Mariner Finance serves*, you can obtain loans between $1,500 and $15,000 online. But you’ll have to visit a branch office if you’re looking for a loan that’s less than $1,500 or greater than $15,000.

When closing a loan at a branch office, you’ll be asked to bring:

  • A copy of a valid, government issued photo ID like a driver’s license or passport
  • Social Security card
  • Proof of residence (a driver’s license, utility bill, or signed lease)
  • Proof of income (paystubs or tax returns)
  • Your recent tax return and copy of bank statements if you’re self-employed

If you’re eligible to complete your loan application online, funds can be deposited directly into your bank account within two days. If you close a loan at a Mariner Finance branch locations, you’ll be provided with a check.


Mariner Finance offers loan repayment terms of up to five years. Although a longer repayment term can help make your monthly payments more affordable, keep in mind you’ll typically pay more in interest.

When you take out a loan from Mariner Finance, you don’t receive a monthly statement. Instead, you’ll access your account information and make payments through Mariner Finance’s website or your local branch.

You may be charged fees in some states if you make one-time online payments or phone payments. You can avoid those fees by setting up automatic payments from your banking account.

How Mariner Finance compares to other lenders

 mariner finance reviewavant personal loans reviewupstart personal loans review
Fixed ratesUp to 36% APR9.95% - 35.99% APR6.14% - 35.99% APR4
Loan Amounts$1,000 to $25,000 (varies by state)$2,000 to $35,000$1,000 to $50,0005
All APRs reflect autopay and loyalty discounts where available | Read more about Rates and Terms

How to take out a personal loan with Mariner Finance

Before you apply for a loan with Mariner Finance, you can improve your chances of getting the best rate by reviewing your credit report and fixing any issues that could be hurting your credit score.

Mariner Finance will provide rates when you authorize a soft credit inquiry, which doesn’t hurt your credit score. If you see a loan you want to apply for, you’ll be asked for permission to do a hard credit pull, which has only a minor impact (five points or less) on most people’s credit scores.

Because no two lenders evaluate borrowers the same way, it’s smart to compare rates from multiple personal loan lenders. Mariner Finance isn’t one of Credible’s partner lenders, but you can use Credible to fill out a single form in two minutes and compare prequalified rates from other online lenders who offer personal loans for fair credit.

LenderFixed ratesLoan amount
lightstream4.99% - 19.99% APR$5,000 to $100,000
marcus6.99% - 19.99% APR1$3,500 to $40,0002
payoff5.99% - 24.99% APR$5,000 to $35,000
prosper6.95% - 35.99% APR$2,000 to $40,000
sofi5.99% - 21.11% APR$5,000 to $100,000
upgrade7.99% - 35.97% APR$1,000 to $35,000
($3,005 minimum in GA; $6,005 minimum in MA)
Compare rates without affecting your credit score. 100% free!

Get Rates Now

All APRs reflect autopay and loyalty discounts where available | LightStream payment example | Read more about Rates and Terms

1Rate reduction available for AutoPay.

2You may be required to have some of your funds sent directly to pay off outstanding unsecured debt.

3After making 12 or more consecutive monthly payments, you can defer one payment as long as you have made all your prior payments in full and on time. Marcus will waive any interest incurred during the deferral and extend your loan by one month (you will pay interest during this extra month). Your payments resume as usual after your deferral. Advance notice is required. See loan agreement for details.

How To: Improve Your Credit Score

How Mariner Finance can improve

Although Mariner Finance is willing to work with many borrowers who can’t get loans from other lenders, it could improve its services by:

  • Serving borrowers in more states*
  • Not requiring borrowers seeking larger loans to visit a branch office
  • Providing more transparency on upfront origination fees

Check Out: The Best Personal Loan Lenders

Credible makes it easy to find the right loan for you.

Mariner Finance isn’t a partner lender. But you can use Credible to compare rates from other lenders who offer personal loans in just 2 minutes.

Compare Rates Now
Checking rates won’t affect your credit score

*As of November 2019, Mariner Finance provides loans in Alabama, California, Delaware, Florida, Georgia, Indiana, Illinois, Kentucky, Louisiana, Maryland, Mississippi, Missouri, New Jersey, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, and Wisconsin.

About Rates and Terms: Rates for personal loans provided by lenders on the Credible platform range between 3.99% - 35.99% APR with terms from 24 to 84 months. Rates presented include lender discounts for enrolling in autopay and loyalty programs, where applicable. Actual rates may be different from the rates advertised and/or shown and will be based on the lender’s eligibility criteria, which include factors such as credit score, loan amount, loan term, credit usage and history, and vary based on loan purpose. The lowest rates available typically require excellent credit, and for some lenders, may be reserved for specific loan purposes and/or shorter loan terms. The origination fee charged by the lenders on our platform ranges from 0% to 8%. Each lender has their own qualification criteria with respect to their autopay and loyalty discounts (e.g., some lenders require the borrower to elect autopay prior to loan funding in order to qualify for the autopay discount). All rates are determined by the lender and must be agreed upon between the borrower and the borrower’s chosen lender. For a loan of $10,000 with a three year repayment period, an interest rate of 7.99%, a $350 origination fee and an APR of 11.51%, the borrower will receive $9,650 at the time of loan funding and will make 36 monthly payments of $313.32. Assuming all on-time payments, and full performance of all terms and conditions of the loan contract and any discount programs enrolled in included in the APR/interest rate throughout the life of the loan, the borrower will pay a total of $11,279.43. As of March 12, 2019, none of the lenders on our platform require a down payment nor do they charge any prepayment penalties.

4The full range of available rates varies by state. The average 3-year loan offered across all lenders using the Upstart platform will have an APR of 20% and 36 monthly payments of $35 per $1,000 borrowed. There is no down payment and no prepayment penalty. Average APR is calculated based on 3-year rates offered in the last 1 month. Your APR will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will be approved.

5Your loan amount will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will qualify for the full amount. Loans are not available in West Virginia or Iowa.The minimum loan amount in MA is $7,000. The minimum loan amount in OH is $6,000. The minimum loan amount in NM is $5,100. The minimum loan amount in GA is $3,100.

6If you accept your loan by 5pm EST (not including weekends or holidays), you will receive your funds the next business day. Loans used to fund education related expenses are subject to a 3 business day wait period between loan acceptance and funding in accordance with federal law.

About the author
Matt Carter
Matt Carter

Matt Carter is a Credible expert on student loans. Analysis pieces he’s contributed to have been featured by CNBC, CNN Money, USA Today, The New York Times, The Wall Street Journal and The Washington Post.

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