Mariner Finance personal loan review: A 15-day satisfaction guarantee

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In a Nutshell

Mariner Finance personal loans come with a 15-day satisfaction guarantee, and you can apply online, in person at a local branch or over the phone. But loans aren’t available in all states and their maximum annual percentage rates are higher than what some other lenders offer.

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Pros Cons
You may be considered even after bankruptcy Must apply through a branch for loans less than $1,500 or greater than $15,000
Co-signers allowed Higher maximum APRs than some other lenders
15-day satisfaction guarantee Loans not available in all states

What you need to know about a Mariner Finance personal loan

Baltimore-based Mariner Finance was founded in 2002 and has more than 450 branches, though it doesn’t offer loans in all states. Loan amounts range from $1,000 to $25,000 when you apply directly through Mariner Finance, though the maximum loan amount varies by state

Mariner Finance offers auto loans and home loans along with personal loans that can be used for things like debt consolidation, emergency expenses, home improvements and large expenses like vacations and weddings.

15-day satisfaction guarantee for personal loans

Mariner Finance offers a 15-day satisfaction guarantee on personal loans. That means if you change your mind about your personal loan within the first 15 days, you can repay your entire balance and cancel the loan without a penalty. You’ll also receive a full refund for any finance charges you may have incurred. If you’re not 100% sure about your personal loan, this 15-day satisfaction guarantee may give you some peace of mind.

An in-person application may be required

If you’d like a loan amount that’s less than $1,500 or greater than $15,000, Mariner Finance requires you to visit a nearby branch to complete the application process. This can be a drawback if you lead a busy life and prefer the convenience of applying over the phone or online.

You may not need good credit

If you’ve filed for bankruptcy in the past, you might still be considered for a personal loan through Mariner Finance, though any approval is subject to its underwriting process. Take note that if your credit needs some work, you may only qualify for Mariner’s higher interest rates, which are high compared with what some other lenders offer.

A co-signer is allowed

Mariner Finance accepts co-signers for personal loans, including non-family members. Applying with a co-signer who has good credit may help you secure a better interest rate than if you apply on your own.

Who a Mariner Finance personal loan is good for

If you’ve filed for bankruptcy in the past or have other blemishes on your credit history, you may be considered for a Mariner Finance personal loan. If you want in-person customer service for your financial matters, you may like the fact that you can apply for a personal loan at one of the lender’s branches.

But if you need a loan for less than $1,500 or more than $15,000, you may want to look elsewhere if you don’t want to go to a branch to apply. You’ll also need to live in one of the states where Mariner operates.

How to apply for a Mariner Finance personal loan

Mariner Finance lets you apply online, by phone or in person at a local branch. These options give you the chance to manage your finances in a way that fits your lifestyle and personal preferences. Not all lenders offer this much flexibility.

When you apply for prequalification, Mariner Finance will perform a soft credit inquiry, which shouldn’t hurt your credit scores.

But if you prequalify and then decide to continue with the formal loan application, Mariner will then perform a hard credit inquiry, which may lower your credit scores by a few points. If you’re approved for a loan, the funds will be deposited into your bank account, sometimes as soon as the next business day.

Not sure a Mariner Finance personal loan is right for you? Consider these alternatives.

  • Marcus by Goldman Sachs: If you’d like to consolidate debt, Marcus will send payments directly to your credit card companies.
  • Possible Finance: If you have bad credit and only want to borrow a small amount, Possible Finance may be worth considering.

About the author: Anna Baluch is a freelance personal finance writer from Cleveland, Ohio. You can find her work on sites like The Balance, Freedom Debt Relief, LendingTree and RateGenius. Anna has an MBA… Read more.