Pinnacle Micro Gets More Time to Pay Loan

Pinnacle Micro Inc. said that Bank of America has extended the period for repayment of the company’s $5-million loan, which the bank had previously declared to be in default.

The company said the bank has agreed to extend the date of repayment until July 15. It had been due Monday. In a news release, Pinnacle Micro, a provider of computer storage products, said that it is “making good progress” in its turnaround.