Non-Standard Finance plc
A former UK consumer-finance group that operated home-credit, guarantor-loan and branch-based unsecured-lending businesses.
Last updated August 26, 2026
AI crawler reads
No AI crawler has read this profile since Oct 28, 2026.
Overview
Non-Standard Finance plc (NSF) was a United Kingdom consumer-finance group focused on lending to customers who were often underserved by mainstream banks. Its principal operations were conducted through three specialist brands: Loans at Home, formerly known as Loansathome4u, which provided home-collected personal loans; Everyday Loans, a branch-based provider of unsecured consumer credit; and George Banco, a guarantor-loan business acquired in 2017. The group positioned itself in the non-standard or near-prime lending market, where underwriting, distribution and pricing were adapted to borrowers who might have limited access to conventional unsecured credit. NSF was established in February 2015 by John van Kuffeler, a former long-serving chief executive of Provident Financial. It was initially created as a listed cash shell, backed by approximately £48 million from investors and raising £100 million on the London Stock Exchange to pursue acquisitions in specialist consumer finance. The company quickly built an operating platform. In August 2015 it bought Loansathome4u, the home-credit arm of S&U, for £82.5 million. In December of the same year it acquired Everyday Loans from Secure Trust Bank for £235 million, financing the purchase through bank debt and a £160 million equity issue. Everyday Loans became a central part of the group and was described as the UK's largest non-bank branch-based provider of unsecured consumer loans. In August 2017 NSF expanded into guarantor lending through the acquisition of George Banco for an enterprise value of £53.5 million. At its height, the group operated a multi-channel lending model. Loans at Home served customers through home-collected credit and had approximately 98,000 customers supported by around 40 branches in England, Wales and Scotland in the period described by the company's historical materials. Everyday Loans served tens of thousands of additional customers through a national branch network, which later grew to more than 75 locations and had a net loan book of approximately £167 million in 2022. NSF's most prominent strategic action was its attempted takeover of Provident Financial in 2019. The unsolicited, all-share proposal valued Provident at about £1.3 billion and offered 8.88 NSF shares for each Provident share. The bid was strategically significant because it sought to combine two substantial businesses in the non-standard lending sector and was led by NSF's founder, who had previously run Provident. Provident's board rejected the offer, while regulators examined competition, conduct and capital implications. The bid ultimately lapsed in June 2019 after the required regulatory conditions, including prudential capital approval, were not satisfied. The failed transaction generated substantial advisory and exceptional costs. NSF later faced financial and conduct-related pressures. In 2023, Everyday Lending Limited proposed a scheme of arrangement to address historical customer-redress liabilities connected with loans made before 31 March 2021, as well as fees due to the Financial Ombudsman Service. The scheme made £14 million available for eligible claims and related costs. A proposed recapitalisation did not proceed after major shareholder Alchemy Partners declined to support a fundraising. Instead, the operating businesses were transferred to a newly incorporated group owned by secured lenders. The lenders released £70 million of secured debt and extended the maturity of the remaining facilities. NSF then entered an orderly wind-down, with shareholders expected to receive no value from the process. The Everyday Loans operation continued under new ownership and was rebranded as Evlo in March 2025. The original NSF corporate group therefore no longer operates as an independent listed consumer-finance company.
History
Non-Standard Finance was formed in February 2015 by John van Kuffeler, who had previously spent 22 years leading Provident Financial before retiring in December 2013. NSF was backed by a group of investors with approximately £48 million and was admitted to the London Stock Exchange in February 2015 as a cash shell. Its initial public-market purpose was to raise capital for the acquisition of established businesses in specialist consumer finance; it raised £100 million for that strategy. The group began assembling its operating portfolio in August 2015, when it acquired Loansathome4u, the home-credit division of S&U, for £82.5 million. The business was subsequently operated under the Loans at Home brand. Home credit involves collecting repayments from customers at their homes and historically served borrowers who might not use mainstream bank products. Loans at Home became one of the UK's largest providers in this segment. In December 2015 NSF acquired Everyday Loans from Secure Trust Bank for £235 million. The purchase was financed with bank debt and a £160 million equity financing. Everyday Loans operated through branches and provided unsecured consumer credit, giving NSF a second distribution model alongside home-collected lending. In August 2016 the group declared its first interim dividend, reflecting its development as an operating listed company rather than merely an acquisition vehicle. NSF broadened its lending activities again in August 2017 by purchasing George Banco, a specialist guarantor lender, for an enterprise value of £53.5 million. Guarantor lending typically relies on a third party agreeing to meet a borrower's obligations if the borrower defaults. The acquisition gave NSF exposure to another segment of non-standard consumer finance and completed the group's principal three-part operating structure: home credit, branch-based unsecured lending and guarantor loans. The group made its most consequential strategic move in February 2019. On 22 February, NSF launched an unsolicited all-share offer for Provident Financial, valuing the larger rival at approximately £1.3 billion and proposing 8.88 new NSF shares for each Provident share. The offer was notable because van Kuffeler had previously led Provident. Provident's board rejected the proposal, arguing that it was financially flawed and questioning whether NSF's management could operate Provident's Vanquis Bank credit-card business. Several institutional investors supported the bid, while other substantial shareholders opposed it. The proposed combination attracted regulatory attention. The Competition and Markets Authority assessed whether it qualified for investigation under the Enterprise Act 2002. The Financial Conduct Authority also indicated that it would intervene if a combined business increased unaffordable lending. Ultimately, the Prudential Regulation Authority determined that the proposed merged group would not satisfy minimum regulatory capital requirements. On 4 June 2019 NSF announced that the relevant regulatory conditions would not be met, causing the offer to lapse. The failed attempt produced fees estimated at £10 million to £10.5 million before VAT and contributed to an exceptional charge of £25.3 million in NSF's first-half 2019 results. NSF subsequently faced difficulties associated with funding, lending performance and historical customer-redress obligations. In 2023, Everyday Lending Limited proposed a scheme of arrangement covering liabilities linked to loans issued before 31 March 2021. The scheme set aside £14 million for borrower claims and Financial Ombudsman Service fees. A recapitalisation proposal was considered but did not secure the support of major shareholder Alchemy Partners. The group's secured lenders instead took control of the operating businesses through a newly incorporated group. In return, they released £70 million of secured debt and extended the maturity of the remaining facilities. The transfer separated the operating businesses from the original listed company. Non-Standard Finance plc then commenced an orderly wind-down, and shareholders were expected to receive no value. The Everyday Loans operation continued under new ownership and expanded its identity by adopting the Evlo name in March 2025. NSF consequently moved from being a listed consolidator in specialist consumer credit to a corporate entity in wind-down, while parts of its former operating platform survived under lender ownership.
- 2025
Everyday Loans rebranded as Evlo
[1]The former Everyday Loans operating business continued under new ownership and adopted the Evlo brand.
- 2023
Debt restructuring and transfer of operating businesses
[1]A scheme of arrangement addressed historical redress liabilities, while secured lenders acquired the operating businesses through a new group and released £70 million of secured debt.
- 2023
Orderly wind-down begins
[1]The original NSF company commenced an orderly wind-down after the operating businesses were transferred to lender ownership.
- 2019
Provident Financial takeover attempt
[1]NSF launched an approximately £1.3 billion all-share offer for Provident Financial. The bid lapsed in June after regulatory capital conditions were not satisfied.
- 2017
Acquisition of George Banco
[1]NSF acquired specialist guarantor lender George Banco for an enterprise value of £53.5 million.
- 2016
First interim dividend
[1]NSF declared its first interim dividend as an operating listed consumer-finance group.
- 2015
Company established and listed
[1]NSF was established in February by John van Kuffeler and listed on the London Stock Exchange as a cash shell, raising capital for acquisitions in specialist consumer finance.
- 2015
Acquisition of Loansathome4u
[1]NSF acquired the home-credit arm of S&U for £82.5 million. The business later operated as Loans at Home.
- 2015
Acquisition of Everyday Loans
[1]The company bought Everyday Loans from Secure Trust Bank for £235 million, adding a branch-based unsecured-lending platform.
Products and positioning
Specialist UK consumer lending for borrowers who may have limited access to mainstream unsecured credit, delivered through home-credit, branch-based and guarantor-loan channels.
Home-collected personal loans · 2015
Loans at Home
Loans at Home was NSF's home-credit operation, originally acquired as Loansathome4u from S&U in 2015. It provided personal loans through a home-collected model in which customer relationships and repayments were supported by local representatives. The business served borrowers in England, Wales and Scotland and was described as one of the UK's largest home-credit providers.
Branch-based unsecured consumer loans · 2015
Everyday Loans
Everyday Loans was acquired from Secure Trust Bank in 2015 and became NSF's principal branch-based lending business. It provided unsecured consumer loans through a network of UK branches, serving customers who might not qualify for conventional bank credit. The network exceeded 75 locations by 2022 and had a reported net loan book of approximately £167 million. After the 2023 restructuring it continued under new ownership and was rebranded as Evlo in 2025.
Guarantor loans · 2017
George Banco
George Banco was a specialist guarantor-loan provider acquired by NSF in 2017. Its lending model involved a guarantor supporting the borrower's obligations, giving NSF exposure to a distinct segment of non-standard consumer finance. The acquisition formed part of NSF's strategy to diversify beyond home credit and branch-based unsecured loans.
Brand decisions
2023
Restructuring and transfer to secured-lender ownershipStrategyBackground
NSF faced historical customer-redress liabilities and required a solution for the capital structure of its operating businesses. A scheme of arrangement was proposed for liabilities relating to loans made before 31 March 2021.
Action taken
The scheme made £14 million available for borrower claims and Financial Ombudsman Service fees. After a proposed recapitalisation failed to secure major shareholder support, the operating businesses were transferred to a newly incorporated group owned by secured lenders. The lenders released £70 million of secured debt and extended the maturity of remaining facilities.
Aftermath
The original Non-Standard Finance plc commenced an orderly wind-down, with shareholders expected to receive no value. The Everyday Loans business continued separately under lender ownership.
Funds made available under the redress scheme. £14 million (2023)
2019
Hostile all-share offer for Provident FinancialM&ABackground
NSF sought to combine with Provident Financial, a larger rival in the UK non-standard lending sector. The proposal was made after NSF had assembled a portfolio of home-credit, branch-lending and guarantor-loan businesses.
Action taken
On 22 February 2019 NSF proposed issuing 8.88 new NSF shares for every Provident share, valuing the target at approximately £1.3 billion.
Aftermath
Provident rejected the bid. Regulatory conditions were not satisfied, particularly the requirement relating to the merged group's minimum regulatory capital, and the offer lapsed on 4 June 2019. NSF incurred approximately £10 million to £10.5 million of fees before VAT and recorded a £25.3 million exceptional charge in the first half of 2019.
Estimated transaction fees before VAT. £10 million to £10.5 million (2019)
- Provident Financial — Provident's board rejected the proposal, characterising it as financially flawed and questioning NSF's ability to operate Vanquis Bank.
Recent events
- 2025
Everyday Loans rebrands as Evlo[1]
Product generation · Leadership change
The Everyday Loans business, which continued under the ownership structure created through the 2023 restructuring, was rebranded as Evlo.
- 2023
Non-Standard Finance completes financial restructuring[1]
M&A · Regulation
A restructuring transferred NSF's operating businesses to a new group owned by secured lenders after a proposed recapitalisation failed to obtain the necessary shareholder support. The arrangement also addressed historical customer-redress liabilities.
- 2023
Non-Standard Finance begins an orderly wind-down[1]
Bankruptcy
Following the restructuring, the original NSF corporate entity commenced an orderly wind-down. Shareholders were expected to receive no value from the process.
- 2019
Non-Standard Finance launches hostile bid for Provident Financial[1]
M&A
NSF announced an unsolicited all-share takeover proposal for Provident Financial valued at approximately £1.3 billion. The offer was opposed by Provident's board and attracted support from some, but not all, major shareholders.
- 2019
Regulators examine the proposed Provident Financial combination[1]
Regulation · M&A
The Competition and Markets Authority considered whether the proposed transaction fell within the relevant merger provisions, while the Financial Conduct Authority warned about the risk of unaffordable lending. The Prudential Regulation Authority later concluded that the merged group would not meet minimum regulatory capital requirements.
- 2019
Provident takeover bid lapses[1]
M&A · Regulation
NSF announced on 4 June that the regulatory conditions for its Provident Financial offer would not be satisfied by the deadline. The bid therefore lapsed, with associated fees estimated at between £10 million and £10.5 million before VAT.
Sources1 sources
Cite this profile: Cite the canonical profile. /brand-wiki/non-standard-finance-plc · Editorial policy · How profiles are compiled