What is 'Loan Production Office - LPO'
The area of a bank's operations that accepts applications for loans and arranges for business financing, but does not take deposits. Loan production offices (LPOs) are responsible for growing loan business for the bank.
BREAKING DOWN 'Loan Production Office - LPO'
Though LPOs are responsible for accepting applications and arranging financing, loans still must be approved by the lending institution. This may be done by the bank's underwriting department.