In Brief: B of A Phone Loans Extended to Arizona

BankAmerica Corp. expanded its loan-by-phone program to Arizona and is offering discounts on fees for loans and credit lines.

No paper applications, tax returns, or financial statements are needed for the loans, credit lines or credit cards. The application process can be completed in 20 minutes.

The credit limit is $50,000 if small-business owners apply for one product, or $60,000 for all three. The bank introduced the program in California in December.

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