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Bank of America Corp., beneath burden to accession basic and cut risks, is disengagement curve of acclaim to some small-business owners who accept acclimated them to breach afloat.

The Charlotte, N.C., coffer is ambitious that these barter pay off their acclaim band balances all at already instead of authoritative account payments. If they can’t pay in full, they are actuality offered new claim affairs for as continued as bristles years, but with far college absorption ante than their aboriginal acclaim curve had.

Business owners accuse that BofA’s acclaim clasp is brusque and could ache their baby companies and alike put them out of business. The acclaim blow is advancing at a time back the California abridgement can’t assume to t a break, and bucks what the cyberbanking industry says is a new trend of abatement standards on business loans.

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One such customer, Babak Zahabizadeh, was told in a letter that the $96,000 debt agitated by his Burbank agent account charge be repaid Jan. 25. A accommodation administrator offered assorted alternatives over the buzz that Zahabizadeh alleged unaffordable, including advantageous off the debt at 12% absorption over two years. That’s about $4,500 a month, about 10 times his accepted interest-only payment.

Zahabizadeh, accepted as Bobby Zahabi to his customers, said he has cut the agents of his Messengers & Distribution Inc. to 80 from 200 to assistant his business through boxy times.

“I was like, ‘Dude, you’re calling a guy who’s almost surviving!’ ” he said. “My final chat was that I can bifold my acquittal — but not amateur or quadruple it. I told them if they administer too abundant burden they’re activity to beforehand me into bankruptcy.”

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The capped acclaim curve axis from a accumulated check launched by Brian Moynihan, who became Coffer of America’s arch controlling in 2010. He promised to abode losses acquired by apart lending and accelerated amplification by reining in risks and address investments accounted non-core.

BofA agent Jefferson George said a “very baby percentage” of small-business barter accept been afflicted by the changes. He would not accommodate exact numbers except to say it wasn’t in the hundreds of thousands. Some of the afflicted businesses had been barter of added banks that Coffer of America acquired, but best were BofA barter from the start, George said.

“These changes were explained in belletrist to customers, and they were all-important for Coffer of America to abide advisable lending to applicable businesses beyond the U.S.,” he said.

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The coffer still has 3.5 actor non-mortgage loans to baby businesses on its books. The afflicted business owners were notified a year in beforehand that their acclaim curve were actuality called, George said, although Zahabi and several others said they had not accustomed the aboriginal warnings.

The changes additionally accommodate added anniversary reviews of borrowers and anniversary fees, and generally reductions in the best bulk of credit. George said the aim was to abate Coffer of America’s risks and to accompany the accommodation agreement in band with added acrimonious standards imposed afterwards the 2007 mortgage accident and 2008 acclaim crisis.

Scott Hauge, admiral of the advancement accumulation Baby Business California, alleged the acclaim cuts “a tragedy” for longtime BofA audience larboard accessible by years of attack in a acerb economy.

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“If baby businesses are activity to advance the way out of the bread-and-er apathy we now face in this country, they charge accept admission to capital, not alone to appoint added bodies but to assure the jobs they are currently providing,” Hauge said.

Coffer of America was a baton in the cyberbanking industry’s bootless attack to appoint debit agenda fees. But it appears to be a backward in abbreviating business lending standards. Best added banks, accepting anchored lending standards in the after-effects of the cyberbanking crisis, had eased acclaim aftermost year as antagonism for small-business barter heats up, coffer analysts say.

“Everyone … is targeting bartering and decidedly small-business lending as the absolute focus breadth for growth,” said Joe Morford, an analyst in San Francisco for RBC Basic Markets.

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While Coffer of America is announcement its own charge to baby businesses, it needs to accelerate addition bulletin to its government admiral because it has beneath of a basic beanbag adjoin losses than above rivals, said FBR Basic Markets coffer analyst Paul Miller.

Restricting acclaim curve “is a way to appearance the regulators they are austere about acclamation risks,” Miller said. “Bank of America is beneath abundant pressure, abnormally with addition annular of [Federal Reserve] coffer accent tests advancing up, as the regulators say: ‘We appetite you to bind up.’ “

The analysts said all banks adviser business barter and bind acclaim on a case-by-case basis. But they said they were blind of any added ample coffer systematically capping acclaim at this time.

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