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 $7,000
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. A Mariner Finance representative told us that means if you change your mind about your personal loan within the first 15 days, you can use your loan funds to pay off your entire balance and cancel it without a penalty. Mariner told us you’ll 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 $7,000, 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.

Multiple application and payment options

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.

And if you want to pay off your loan early, there’s no prepayment penalty.

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 a good candidate 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 $7,000, 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

You can apply for a Mariner Finance personal loan online, in person or over the phone. Once you apply, you can get a response about your loan’s status within the same business day.

Let’s take a closer look at what you need in order to apply online or in person.

Online application

Visit Mariner’s website and click “Apply for a personal loan online.” You’ll need to provide the following information to see if you prequalify:

  • Loan amount
  • Full name and address
  • Date of birth
  • Email address
  • Social Security number
  • Income and employment details
  • Desired use of your loan

Keep in mind that during this step, Mariner Finance will perform a soft credit inquiry, which shouldn’t hurt your credit scores.

But if you prequalify and 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.

Hard and soft credit inquiries: What they are and why they matter

In-person application

If you prefer applying for a loan in person, you can visit one of Mariner’s branches to meet with a loan officer who will guide you through the application process.

Mariner just asks that you bring the following items:

  • A copy of a valid, government-issued photo ID like a valid driver’s license or passport
  • Your Social Security card
  • Proof of residence
  • Proof of income or a recent tax return or bank statement if you’re self-employed

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

  • Citizens Bank personal loan: If you need a larger personal loan, Citizens Bank could be a good option for you. For more info, read our Citizens Bank personal loan review.
  • Marcus by Goldman Sachs personal loan: If you’d like to consolidate debt, Marcus will send payments directly to your credit card companies. Read our Marcus personal loan review to learn more.