Data Design Given Loan Moratorium

Data Design Laboratories Inc., a maker of electronic circuit boards, said Tuesday that it has reached an agreement with its lenders for a three-year moratorium on repaying $14 million in bank loans.

Sanwa Bank California and Tokai Bank Ltd. both agreed to the terms, which the company said would give it working capital to recover from losses that it attributed to the recession and the computer industry slump. In exchange, the banks receive rights to company assets as collateral.

The company stopped making loan payments last October.