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Definitions by Madre2

No Problemo 

An American slang term that bears no relation to real Spanish, but is used widely in films and TV shows.

The correct Spanish terms are:

No hay problema; No hay de que; Ningun problema; No te preocupes, etc., etc., but NEVER "no problemo," which makes the speaker (or film and TV script writer) sound provincial and ignorant.
"Dude, can I borrow your car?"

"No problemo! (usually uttered with an annoying surfer-dude or frat-boy tone).
No Problemo by Madre2 August 25, 2010