Duer Advanced Technology and Aerospace, Inc. Closes $2 Million in Financing

VIENNA, Va., May 26 /PRNewswire/ -- Duer Advanced Technology and Aerospace, Inc. (D.A.T.A.), a privately held woman-owned Small Business that provides Information Technology services and Intelligence Analysis support to military and civilian agencies, announced today that it has closed on $2 million in new financing.  D.A.T.A. secured $1.5 million from a Small Business Administration 7(a) loan to repurchase equity and fund further expansion.  Access National Bank provided a $500 thousand line of revolving credit to provide working capital for growth.

Susan Duer, the CEO and President of D.A.T.A. stated, "This is an exciting new chapter for D.A.T.A. and our employees.  Additional working capital will allow the company to continue to grow organically as well as to fund our expansion into other vertical markets within the federal ecosystem.  Our success to date has been largely attributed to our loyal employee base and I look forward to expanding the D.A.T.A. family."    

D.A.T.A., which was incorporated in 1997, is now a self certified woman-owned business as a result of this financing transaction.  

Ken Spedden, a business strategy consultant for D.A.T.A. said, "In the midst of a historic economic downturn that resulted in extremely tight credit markets, closing financing in this present economic environment is a critical lifeline for mature, successful small businesses like D.A.T.A. to realize their strategic initiatives for growth and gain additional market share within their core business offering."

According to Michael Clarke, CEO of Access National Bank:  "Susan has been very smart in the way she has gone about this.  As a result of careful planning, D.A.T.A. has a solid financing structure that will enable it to grow and prosper in the years ahead.  At Access National Bank, we've made it a priority to work with businesses like D.A.T.A. in establishing multi-faceted credit arrangements used to fuel growth and other strategic initiatives such as acquisitions and share repurchases."

About Access National Bank

Access National Bank is a Reston, Virginia based commercial bank focused on delivering smart credit and cash management services to companies with annual revenues of up to $100 million.  By annual loan volume, Access National is the leading Bank provider of SBA Guaranteed loans to operating businesses located in the Washington D.C. area.

About Duer Advanced Technology and Aerospace, Inc.

Duer Advanced Technology and Aerospace, Inc. is a premier provider of Information Technology services and Intelligence Analysis support to military and civilian agencies.  In a dynamic IT market that is drastically influenced by world events, D.A.T.A. is a tested and proven resource for providing dependable, highly skilled cleared personnel.

For more information visit www.data-inc.com .  

SOURCE Duer Advanced Technology and Aerospace, Inc.