Mariner Finance Personal Loan Review
- APR
- 16.74% – 36.00%
- Eligibility and access: 4/5
- Cost to borrow: 1.1/5
- Loan terms and options: 4.2/5
- Repayment support and tools: 4.5/5
- Cosigners allowed: If you have a low credit score, you may have an easier time applying with a cosigner. This means a second person would help take responsibility for repayment of the loan.
- Reports to credit bureaus: Unlike some lenders, Mariner Finance reports to all three credit bureaus — Equifax, Experian and TransUnion.
- Charges an origination fee: Mariner Finance does charge an origination fee in some cases; however, whether they charge a fee and the amount they charge varies from state to state.
- Secured and unsecured loans: Not only does Mariner Finance offer unsecured loans, but you can also take out a loan that’s backed by collateral, known as a secured loan.
- Small loan amounts: Mariner Finance only offers loans ranging from $1,000 to $25,000, so it may not be a good fit for those looking to make large purchases.
- High APR: This lender’s annual percentage rate (APR) starts at 16.74%, which is much higher than the starting rate some other personal loan lenders offer. Those with good credit may find better offers elsewhere.
- Limited availability: Mariner personal loans are only available in 27 states, so if you don’t live in an area they service, you won’t be able to access this lender’s products.
- Best for low-credit borrowers: The ability to use a cosigner when applying with Mariner Finance could make it much easier for low-credit borrowers to access loans. Since it reports to all the credit bureaus, you may also see your credit score increase with consistent on-time payments.
Mariner Finance pros and cons
While this lender offers several benefits to borrowers, it’s always smart to weigh the pros and cons of a financial product before making a decision.
Pros
- Can use cosigner
- Reports to all three credit bureaus
- Only need a 600+ credit score
- Can check rates without hurting your credit
Cons
- Small loan amount range
- APR starts at 16.74%
- Not offered in all 50 states
Mariner Finance’s offering of cosigner support may make this lender much more accessible to those with little or bad credit. Also, since Mariner Finance reports to all three credit bureaus, borrowers who make on-time payments may see their credit scores increase across the board, instead of just with one or two of the bureaus.
However, Mariner Finance doesn’t post its APR or loan terms on its website, which may make it difficult for shoppers to compare rates when looking for a loan. This lender also has limited availability — it’s only offered in 27 states — and the minimum APR starts much higher than some other lenders.
Mariner Finance lawsuit
In 2024, six states joined an existing lawsuit against Mariner Finance, for predatory lending and deceptive practices. The lawsuit alleges that Mariner Finance tacked on hidden fees and optional add-on products.
Mariner Finance is also accused of illegal sales tactics for sending “live checks” to people who didn’t request a loan. Once the check was cashed, it’s said that Mariner Finance then aggressively pushed borrowers to refinance, even if the refinance didn’t make sense for the consumer.
Mariner Finance requirements
Unfortunately, Mariner Finance doesn’t offer a lot of insight into its personal loan requirements for borrowers.
| Minimum credit score | 600 |
| Required documents |
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If you meet the basic requirements listed above, you may need to disclose how you plan to use your personal loan. While Mariner Finance allows borrowers to use its funding for a variety of purposes, there are certain expenses you cannot put the money toward.
| Mariner Finance loans CAN be used for… | Mariner Finance loans CANNOT be used for… |
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If Mariner Finance’s loan options won’t work for your borrowing needs, be sure to shop around for a lender that helps you meet your financial goals and can offer you the best-fitting rates, terms and amounts.
How to get a loan with Mariner Finance
The personal loan application process with Mariner Finance is straightforward and doesn’t take long to complete. Before applying, however, make sure you live in one of the 27 states this lender services. Personal loans are available to borrowers in the following states:
- Alabama
- Arizona
- California
- Delaware
- Florida
- Georgia
- Illinois
- Indiana
- Kentucky
- Louisiana
- Maryland
- Mississippi
- Missouri
- New Jersey
- New Mexico
- New York
- North Carolina
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- South Carolina
- Tennessee
- Texas
- Virginia
- Washington
- Wisconsin
Prequalify for a loan
Mariner Finance allows you to prequalify for a personal loan without any impact to your credit score.
To do this, you’ll need to fill out an application online, call or visit a branch in person. During this process, you’ll need to provide your personal details and income information. You’ll also indicate how much you want to borrow and how you intend to use the funds.
Verify your information
After you’ve filled out an application, you’ll need to verify the information you provided during the prequalification process. This means providing documentation such as a government-issued ID, proof of income and residency verification.
Once Mariner Finance verifies your information, this lender will run a hard credit inquiry, causing your credit score to drop by a few points. A hard credit pull will allow Mariner Finance to see the information on your credit reports.
Close on your loan
If your application is approved, you’ll need to close on your loan and sign a contract with Mariner Finance. This lender typically approves loans within a day, and funding may take several days.
How Mariner Finance compares to other personal loan companies
Even if you believe Mariner Finance aligns with what you’re looking for in a personal loan, it never hurts to shop around and compare other lenders. Here’s how Mariner Finance stacks up against similar personal loan lenders.
| Mariner Finance | OneMain Financial | Upgrade | |
|---|---|---|---|
| LendingTree’s rating | 3.1/5 | 3.5/5 | 4.7/5 |
| Minimum credit score | 600 | 500 | 580 |
| APRs | 16.74% – 36.00% | 18.00% – 35.99% | 7.74% – 35.99% (with discounts) |
| Loan amount | $1,000 – $25,000 | $1,500 – $20,000 | $1,000 – $50,000 |
| Repayment term | 12 – 60 months | 24 – 60 months | 24 – 84 months |
| Origination fee | Varies by state | $25 to $500, or 1.00% – 10.00% | 1.85% – 9.99% |
| Funding timeline | Approval possible within same business day | May receive funds as soon as one hour | May receive funds within one business day |
| Bottom line | Mariner Finance has a high minimum APR, but it still falls in an affordable range. Like OneMain Financial and Upgrade, this lender may be best suited for borrowers with low credit scores. | Similar to Mariner Finance, OneMain Financial has a high minimum APR and small loan range. However, it accepts lower scores than Mariner Finance (500) than Mariner Finance and offers a quick funding timeline. | Upgrade offers much lower APRs than Mariner Finance, but the lowest rates are reserved for borrowers with good credit. This lender also offers much larger loan amounts, though it does charge origination fees on all loans. |
How we rated Mariner Finance
We evaluate personal loan lenders on more than just interest rates. Our goal is to show how accessible, affordable, transparent and supportive each lender really is.
Our categories
Every lender is scored out of 5 stars, with 5 stars being the highest rating. LendingTree loan experts determine this score using dozens of underlying data points across four weighted categories covering the full borrowing journey.
We assess how easy it is for people to qualify and apply. This includes state availability, soft-credit prequalification, membership requirements, funding speed and whether borrowers with less-than-excellent credit can get a loan.
We evaluate how affordable the loans are based on minimum and maximum APRs, loan fees and rate discounts. Lenders with unclear or potentially predatory costs receive lower scores.
We consider repayment term flexibility, loan amount ranges and whether options like secured loans, joint loans or direct-to-creditor payments are offered — plus whether the lender clearly communicates these options.
We evaluate borrower experience after funding: customer service access, hardship or forbearance programs, payment flexibility and digital tools like mobile apps or credit monitoring.
Our process
We gather data directly from lenders through their websites, disclosures and direct communication with company representatives. Our editorial team verifies and updates information regularly. We value transparency and award less favorable scores when lenders obscure or omit details.
In some cases, our editors may apply a small adjustment (no more than 4% of the overall score) to account for factors not captured by the methodology. This could include J.D. Power customer satisfaction surveys, recent regulatory actions or features that stand out in ways our rubric doesn’t measure directly.
Our editorial team applies the same scoring model and standards to every lender. Lenders cannot pay to influence our ratings.
Frequently asked questions
In 2024, Mariner Finance was sued by multiple states’ attorneys general for allegedly participating in deceptive business practices, such as mailing out “live checks” — preapproved loan offers that typically have high interest rates — and offering credit insurance products.
Mariner Finance offers personal loans from $1,000 to $25,000. Since personal loans typically range from $1,000 to $50,000, this amount is on the smaller side and may be best suited for consumers looking for small personal loans.
Yes — in order to access a loan from Mariner Finance, you’ll need to supply proof of income. This may include your most recent pay stubs, W-2s, bank statements or tax returns. You may also have to verify your identity and residency.
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