Personal Finance Company Review

Rating: 4 / 5.0

Good for: Fast Cash, Easy Approval, Personal Loans, Debt Consolidation, Small to Medium Loans

Personal Finance Company Overview

Personal Finance Company, a part of Mariner Finance LLC, is a premier money lender that combines the expertise of a national loan provider with the personal touch and care of a local bank. After being founded in Battle Creek, Michigan in 1937, Personal Finance Company has spread to over 130 branches through 6 states. They’ve enmeshed themselves into the communities to not only get to know their customers, but to be able to better serve them.

Personal Finance Company has also helped hundreds of small businesses hit the ground running by offering affordable financing options. They’ve financed tons of small businesses that focus on selling appliances, electronics, flooring, home repairs, home fitness, and much, much more! There are few lending companies with as extensive experience and years in operation as Personal Finance Company.

Services Provided

Personal Finance Company specializes in personal loans and debt consolidation loans to help their customers take back control of their finances.

Personal Loans
Personal loans are one of the easiest (and most popular) types of loans to qualify for because it’s an unsecured loan. This means that you don’t have to put any property up for collateral and your credit history has no bearing on whether or not you qualify for the loan. While your credit rating is checked, it’s more of a holistic financial check to to make sure that you can afford to pay back the loan if you’re approved. Keep in mind, because the lender takes on most of the risk with an unsecured loan, they usually have higher than average interest rates to make up for it.

Debt Consolidation Loan
Debt consolidations loans from Personal Finance Company are an excellent choice if your debts are getting out of control and you have too many monthly payments. This loan type lets you combine all of your debts under one loan so you have a single figure (and interest rate) to pay each month which can help you get out of debt faster.

However, that depends on the debt consolidation loan interest rate in relation to your other debts. They’re usually lower, but sometimes they’re not. Be sure to do your due diligence first or you may end up paying more in the long run.

Loan Process

Personal Finance Company’s loan application process is actually quite simple. First, you’ll need to go through a 3 step application form that collects information about your personal details, your employment status, and how much you think you need to borrow. After that’s been submitted, you’ll have an approval notice within one business day and if you’re approved, you’ll have your loan deposited within one additional business day. That’s it!

One thing to keep in mind is that if you have bad credit, you may be subject to special conditions because you’re applying for an unsecured loan.

Loan Details and Statistics

Loan Amount1000 - 25000
Loan Duration12 - 60 mo
Collateral Needed?No
Interest Rates24 - 36
Minimum Credit Score600
Approval Time~1 business day
Loan Deposit Time~1 business day
Late FeesVaries by State
Insufficient Funds FeesVaries by State

Loan Application Requirements

  • Government Issued ID
  • Social Security Card
  • Proof of Residence
  • Proof of Income (Most recent pay stubs)
  • Recent Tax Return
  • Have to be 18+ years of age

How to Apply for a Personal Finance Company Loan

You can apply for one of Personal Finance Company’s loans in one of two ways. Firstly, you can find a location near you through their branch finder (here) and contact the branch nearest you via the listed telephone number. Keep in mind that Personal Finance Company loans are only available for residents of IL, IN, KY, MO, TN, & WI. The other way is to go through their online application form (here) and do everything (mostly) online.

Personal Finance Company Review

One of the most important factors when looking into a loan provider is how long they’ve been operating. You don’t want to give your personal information to a fly by night company that won’t be there tomorrow or one that hasn’t proven themselves to be a credible lender. Personal Finance Company has been in business for 79 years (since 1938) and has hundreds of branches across 6 states. On top of that, they have a 4.75 out of 5 star rating on from 150+ reviews over the last year which goes to show how much they care about providing a quality service and taking care of their customers.

Their lending process is one of the fastest and easiest we’ve come across. They don’t require a laundry list of information for the loan application, but this also means that you’ll need to speak with a representative over the phone to finish the process if you don’t have all the information on hand for the online form. However, you can have an approval decision within one business day. They’re also a rather versatile loan provider as they lend up to $25,000 for up to 60 month terms where most lenders prefer much shorter loans for far less.

The main drawback is that Personal Finance Company is currently licensed to operate in only 6 states. While this isn’t a concern to residents of said states, it is a concern for everyone else in the remaining 44. Their minimum credit rating to qualify for their loans can also prove troublesome for borrowers with bad credit. If you have bad credit, you can still qualify, but you may end up having more restrictive loan terms or a higher interest rate.

Is Personal Finance Company Right for Me?

King of Kash is a great loan provider if you’re in need of a short term loan to handle unexpected expenses or you want to finance a trip, medium sized purchase, or pay off an outstanding loan or debt. They’re an excellent choice if you have bad credit and need cash quickly. However, if you need more than $3,000, you’ll need to look for a different lender. Even with this low lending ceiling, we still give King of Kash a strong recommendation.

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