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1st Stop secures funds for expansion of car finance business

A Blackpool based loan specialist is set for expansion after securing a funding deal from the Isle of Man. The 1st Stop Group, which was founded in Blackpool in 2004 and employs around 60 staff at several UK sites, has teamed up with Conister Bank, part of the Manx Financial Group. 1st Stop Car Finance, one of the Group’s subsidiaries, will introduce and pre-underwrite hire purchase loans on behalf of Conister Bank, including online applications for vehicle finance via its consumer website www.1ststop.co.uk. Conister Bank estimates that the arrangement will generate a near 10 per cent increase in its loan book in the first 12 …

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