Corporations and small businesses borrow loans from banks for various reasons. A banking office that accepts loan applications from companies, in order to review their eligibility for availing a loan, is known as a Loan Production Office (LPO). However, an LPO does not accept monetary deposit. It only processes the loan applications received and assesses their eligibility. The entire process involves a lot of paperwork, which has to be processed accurately within a short turnaround time.
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