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It engaged principally in consumer lending on a nationwide basis, offering a full range of services including credit cards, lines of credit, installment loans, student loans and home equity loans. NatWest Services, Inc. in Scranton, Pennsylvania provided the operations and servicing facility for NatWest Bank, N.A. and NatWest Bank (Delaware). [10]
NatWest is considered one of the Big Four clearing banks in the UK, [8] [9] and it has a large network of over 526 branches [10] and 3,400 cash machines across Great Britain and offers 24-hour Actionline telephone and online banking services. Today, it has more than 7.5 million personal customers and 850,000 small business accounts.
SFLG forms part of the Government’s portfolio of interventions in the debt and equity markets, and, as such, it is designed to support the Government’s objectives." The Small Firm Loan Guarantee scheme went through various small changes during its life, from 1981 to 13 January 2009:
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Loan origination is the process by which a borrower applies for a new loan, and a lender processes that application. Origination generally includes all the steps from taking a loan application up to disbursal of funds (or declining the application). For mortgages, there is a specific mortgage origination process.
In 1995, Lombard North Central changed its corporate identity, and adopted the simple title of Lombard. Lombard Direct was launched as a telephone loans service for personal customers. Lombard Corporate Finance was also created, developing new leasing products for sectors such as films, aviation, maritime, technology and private finance.
The "good bank" was Northern Rock plc, which was responsible for holding and servicing all pre-existing customer savings accounts and some pre-existing mortgage accounts. Northern Rock plc received additional capital of £1.4 billion of equity from the UK government. The strategy was to prepare the bank for sale into the private sector.