Many or all companies we feature compensate us. Compensation and editorial research influence how products appear on a page. Personal Loans Mariner Finance Personal Loans Review Updated May 09, 2023   |   7-min read Reviewed by Miranda Marquit Reviewed by Miranda Marquit Expertise: Beginning investing, financial planning, small businesses, student loans, college planning, healthcare, economy Miranda Marquit has been writing, speaking, and podcasting about money since 2006. Her work has appeared in numerous media outlets. Learn more about Miranda Marquit Learn Moreat Mariner Finance’s secure websiteEditorial RatingEditorial RatingWhat we like:Access to physical branchRates (APR)Not disclosedLoan TermsNot disclosedLoan Amounts$1,000 – $25,000FeesPrepayment penalty: NoneSee how Mariner’s personal loan product stacks up with other optionsCompare the Best Personal Loans If you’re looking for an unsecured personal loan and need the money fast, there are a number of online lenders that might fit the bill. Online personal loans have become increasingly popular, and it’s often possible to get your money in as little as one business day, making them a good source of funding in financial emergencies. However, depending on your credit score, you might find it difficult to qualify for a personal loan with a low interest rate. If so, Mariner Finance can be another option. Whether you’re looking for an auto loan or need a personal loan for another purpose, it’s possible to use Mariner Finance to get what you need. In this review: How Mariner Finance and Pioneer Credit Work TogetherHow to Get a Personal Loan through Mariner FinanceRates, Fees, & Other Basic InfoThe Benefits of Mariner LoansThe Downsides of Mariner Loans Mariner Finance and Pioneer Credit First of all, it’s important to understand that Mariner Finance and Pioneer Credit are the same company. The two companies merged effective Nov. 1, 2018, and Pioneer Credit changed its name to Mariner Finance. However, very little has impacted customers as a result of the merger, whether they originally obtained their loans through Pioneer Credit or Mariner Finance. They can still use their old login information to access their accounts still enjoy the same loan terms as before. If they live near a Pioneer Credit brick-and-mortar branch, the locations and staff remain the same. Getting a Loan Through Mariner Finance Prospective borrowers can fill out an online application for a Mariner Finance personal loan in just a few minutes. Once you have decided on a loan amount, you’ll need to provide the following information: NameAddressBirthdatePhone numberEmailCitizenship statusSocial Security numberAnnual incomeEmployer informationHousing costsLoan purpose Following a soft credit pull, available loan options will be displayed onscreen. Once you choose a loan offer, though, a hard credit check takes place. You’ll need to provide documentation to prove your identity and income. Some of the items you might be asked to submit include paystubs, bank statements, and/or a government-issued ID. You might be asked to submit these materials in person at a branch or online. Once the process is complete, you usually receive the funds within one to two business days. Basic Information: Rates, Terms, Fees, & Limits Mariner Finance personal loans are available from $1,000 to $25,000. However, only loans between $1,500 and $7,000 will be approved online; if your loan needs fall outside these amounts, you’ll need to go into one of the branches. Mariner Finance only has branch locations in the following states: AlabamaIndianaMississippiPennsylvaniaVirginiaDelawareKentuckyNorth CarolinaSouth CarolinaWisconsinFlorida LouisianaNew JerseyTennesseeGeorgiaMarylandNew YorkTexasIllinoisMissouriOhioUtah Additionally, borrowers requesting Mariner loans in excess of $10,000 will be asked to provide collateral. (Note: An auto loan will automatically be a secured loan.) Mariner Finance’s personal loan rates, which are largely based on your credit history, are on the high side compared to some other online lenders. If you’re having trouble qualifying for a personal loan with Mariner Finance, you can either get a cosigner or opt for a secured loan instead of an unsecured loan. >> Read More: What’s the Difference Between a Secured and Unsecured Loan? The Benefits of Mariner Loans Borrowers with poor credit who are having trouble qualifying elsewhere will benefit most from Mariner Finance personal loans since there is no minimum credit score required. Here are some of the advantages of using Mariner Finance: Fast cash: Mariner’s quick application process means you can receive the funds quickly, usually within one or two business days.Fixed monthly payments: Unlike a credit card, a Mariner Finance personal loan offers fixed monthly payments for easier budgeting.Personal loans for poor credit: Mariner is a loan for people with bad credit, meaning you might still qualify even if you’ve been turned down by other lenders.Cosigner options: Your cosigner doesn’t need to be a family member if you want to improve your chances of getting a personal loan with Mariner Finance. In addition, Mariner Finance offers optional credit insurance for when something unexpected happens, such as a major illness or job loss that prevents you from making payments. However, the policy is expensive and increases the overall cost of your loan. The Downsides of Mariner Loans Mariner Finance also has its share of disadvantages, so it’s important to carefully consider your situation before you move forward. High APRs: Mariner Finance offers some of the highest APRs associated with online personal loan lenders, even compared to lenders that also specialize in borrowers with lower credit scores.Not available in all states: You might not be able to get a loan if you don’t reside in one of the states where Mariner Finance is eligible to make loans, or if you need more than $7,000.Restrictions on how much you can borrow online: If your loan amount doesn’t fall within certain parameters, you might be required to visit a physical branch to complete your loan application. Additionally, you have to secure loan amounts of $10,000 or more.Not good for debt consolidation: A common use of personal loans is to consolidate credit card debt; however, the APR on a Mariner Finance personal loan is higher than what’s offered by many credit card issuers. Something else to be aware of is Mariner Finance’s loan-by-mail option. Mariner frequently mails personal loan offers in the form of an actual check you’re supposed to be able to sign and cash. However, there are a number of Consumer Financial Protection Bureau complaints related that allege predatory practices related to this product. Additionally, Mariner Finance is not accredited by the Better Business Bureau. There are hundreds of complaints against the company on the BBB website, and the overall customer review rating is 1.4 out of 5 stars. AdvertisementMariner Finance Personal Loan AlternativesRates as low as 7.99% APRMinimum credit score of 620Repayment terms of 36 or 60 monthsView Rates Rates are typically between 8.41% and 35.99% APR1Funds can be received in as fast as one business dayA minimum credit score of 600 in most statesView Rates Bottom Line Mariner Finance is aimed at those with poor credit who need money fast. Although you can get your money in as little as one or two business days, it comes with a cost. Because these personal loans target borrowers with lower credit scores, the APRs can be high. Additionally, you might end up with various extra costs, including origination fees and the expense of credit insurance. To help limit the cost of borrowing, you might consider adding a cosigner or opting for a secured loan that limits the risk to Mariner Finance. Mariner Finance is a better alternative to getting a payday loan that charges even higher rates. Carefully consider your situation and shop around for the lowest possible interest rate before you decide to get a personal loan with Mariner Finance. 1The 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 21.97% and 36 monthly payments of $35 per $1,000 borrowed. For example, the total cost of a $10,000 loan would be $12,646 including a $626 origination fee. APR is calculated based on 3-year rates offered in the last 1 month. There is no down payment and no prepayment penalty. Your APR will be determined based on your credit, income, and certain other information provided in your loan application.