To our valued customers,
For over 44 years, Pioneer Credit Company has been a leader in the financial services industry. Founded in April of 1974, Pioneer Credit Company opened its first office in the small town of Cleveland, Tennessee. The vision was to create a different kind of finance company- one that was connected to the community it served and provided customized solutions to each customers’ specific needs. Over the years, Pioneer Credit Company has become a respected institution built on the loyalty and trust of our customers.
On November 1st 2018, Pioneer Credit Company will become Mariner Finance, completing a process that started almost four years ago. In December of 2014, Pioneer Credit Company completed a definitive agreement with Mariner Finance, LLC and entered into a strategic merger that created a premier consumer finance company. Today, Mariner Finance, and its affiliates operate over 500 offices with over 570,000 customers and 2,100 team members across 22 states. The merger was one of the largest in recent history in the consumer finance industry and has provided enhanced resources, improved systems, and combined our talented workforces to create better products and experiences for our customers.
As a customer, you can expect little change after November 1st. Our companies share a mission of customer-driven lending and we will work each day to meet and exceed your existing expectations. While the sign outside your location will change, the same smiling, familiar faces will greet you each time you visit or call your branch. Our employees have been working as one team for almost four years. Now, we will begin to operate under one name.
Over the past four decades, Pioneer Credit Company has undergone many changes. From acquiring new branch locations to adding multiple service offerings, Pioneer Credit Company has adjusted to the changing needs of its customers and will do so again. We are not saying goodbye to Pioneer Credit Company; rather, we are building upon its successes and reputation. I want to thank all of our customers for their continued business and support. Without you, our company would not be predominant force in the financial services industry. We welcome you to Mariner Finance!
†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.