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Women applying for online personal loanIf you are searching for the best way to get a loan, storefront lenders are not your only options. Let us tell you about another option, online personal loans. Today will show you how to apply for an online loan. 

What are online personal loans?

Online loans are loans that are originated through an online application process. This means that you can skip traveling to a brick and mortar location. With online applications, you can also enjoy the convenience of applying outside of standard business hours.

This means you can apply on your own time from the comfort of your home, coffee shop, hotel etc.

And the best thing is, when you’re done, the money can be deposited directly into your bank account.

How do these differ from normal personal loans?

Online loans eliminate the need to go to a brick and mortar location. They also allow you the freedom of applying for and accepting your loan offer from a computer.

When you apply online you may get the luxury of an instant decision. If offered a loan, you can select your rates & terms instantly, although they may vary based on your credit history.

Online personal loans are similar to an installment loan, the key difference is you can complete your whole, loan journey online.

The loan amounts and interest rates are usually the same between online and offline offers.

What do I need in order to apply online?

When beginning the online loan application process, the first thing you normally need to establish an input is the desired loan amount.

After that, you will input some standard personal information like your first name, last name, and home address.

You will then be asked for information such as your social security number, proof of income, employment history and a valid photo identification.

In rare cases, you may be asked for your credit history.

Don’t be alarmed.

Most online lenders check your eligibility using what is called a soft credit pull, which will not affect your credit report.

A soft pull is when a person or company checks your credit report as a background check.

Once you have accepted the terms and conditions, your loan will be submitted for approval.

A hard pull will only be performed after you are pre-approved for the offer and have accepted it.

Am I eligible for approval?

If you want an online loan, there are some requirements you must meet.

Lenders generally require that you have a minimum net monthly income to ensure you have the ability to repay the loan.

The amount of disposable income you need to have may vary by lender, loan amount and your credit history. Customers also must usually be 18 or older with a regular source of income that can be verified.

Choosing your loan

Once you qualify, you will be provided with your loan offers.

These offers will include the loan amount, interest rate, Annual Percentage Rate (APR), monthly payment, and loan term (typically  12, 24, 36, 48 or 60 months, term lengths may vary by lender). So now all you need to do is select the offer that best suits your financial needs.

The final stage is the verification process where you typically are required to upload or provided proof of identity, income, employment, and the bank account where you would like the funds deposited.

How long does the online loan process take?

The submission of your information to the online lender service should only take a few minutes.

Their review of your application can take as little as minutes to a few business days.

Once you are approved, the money can be deposited into your bank account, sometimes as soon as the next business day.

Altogether, this process should generally take a business week.

Trends In online lending

Online loans are growing in popularity because of their convenience and availability.

Lenders are working hard to provide you with their best customer service experience online.

Now you must decide whether a physical branch or the website better suits your needs.

We hope this article served as an aide in this process.

Will you request your next loan online?

If so, you can apply online for a loan today at However, if you prefer to apply in a branch our friendly loan officers are always ready to welcome you.

Blog posts are for informational purposes only.

†We offer personal loans from $1,000 to $25,000, with loans terms from 12 to 60 months. Minimum and maximum amounts dependent on an applicant’s state of residence and the underwriting of the loan. Loans between $1,500 and $15,000 may be funded online. Loans greater than $15,000 or less than $1,500 are funded through our branch network. Specific interest rates and fees are determined as permitted under applicable state law and depend upon loan amount, term, and the applicant’s ability to meet our credit criteria, including, but not limited to, credit history, income, debt payment obligations, and other factors such as availability of collateral. Not all rates and loan amounts are available in all states. Additional fees may apply to some loan offers; some state required and/or permitted fees may be treated as prepaid finance charges. Any such charges shall be in addition to the loan amount requested and/or approved and shall be fully disclosed to the applicant on his/her loan agreement. Not all applicants will qualify for the lowest rates or larger loan amounts, which may require a first lien on a motor vehicle not more than ten years old titled in the applicant’s name with valid insurance. Our loan by phone and online closing process requires a compatible mobile or computer device on which you can access your email and electronic documents. Not all loan types are eligible for loan by phone or online loan closing.


To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. As a result, under our customer identification program, we must ask for your name, street address, mailing address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.


For any stated annual percentage rate (“APR”), the APR represents the cost of credit as a yearly rate and will be determined based upon an applicant’s credit at the time of application, subject to state law limits. A range of APR’s may be applicable, subject to state law limits and individual underwriting. Not all applicants will qualify for a lower rate. APR’s are generally higher on loans not secured by a vehicle, and the lowest rates typically apply to the most creditworthy borrowers. All terms and conditions of a loan offer, including the APR, will be disclosed during the application process. As an example, with an amount financed of $5,000.00 the borrower receives $5,000.00 at an APR of 29.99% and an interest rate of 28.77% which includes a finance charge of $3,640.96. Under these terms, the borrower would make 48 monthly payments of $180.02, for a total of payments of $8,640.96. The amount financed may not be the net proceeds paid if charges other than interest are included in the loan.


*The process uses a “soft” credit inquiry to determine whether a loan offer is available, which does not impact your credit score. If you continue with the application process online and accept a loan offer, or are referred to a branch and continue your application there, we will pull your credit report and credit score again using a “hard” credit inquiry. This “hard” credit inquiry may impact your credit score.



California Residents: Loans made or arranged pursuant to a California Financing Law license.

VA Residents – Mariner Finance of Virginia, LLC, Licensed by the Virginia State Corporation Commission, Consumer Finance Company License No. CFI-114.


Mariner Finance, LLC, NMLS No. 166564 (
8211 Town Center Drive, Nottingham, MD 21236. Telephone Number 877-310-2373.

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