Micropolis Obtains $20-Million Credit Line

Micropolis, a Chatsworth maker of disk drives for storing computer data, said it has obtained a $20-million, short-term bank line of credit.

The company said it plans to borrow against the unsecured credit line primarily for working-capital needs. Working capital generally refers to the amount of money a company has on hand from cash, securities and customers’ payments coming due, less its bills that must be paid in the coming year.

Micropolis has been struggling lately, hampered by higher than expected production costs. In the 9 months that ended Sept. 30, the company lost $4.3 million on sales of $237 million, compared with a year-earlier profit of $20.1 million on sales of $207.9 million.