Duer Advanced Technology and Aerospace, Inc. (D.A.T.A.), a Vienna, VA-based company that provides Information Technology services and Intelligence Analysis support to military and civilian agencies, has closed on $2m in new financing.D.A.T.A. secured $1.5m from a Small Business Administration 7(a) loan to repurchase equity and fund further expansion. In addition, Access National Bank provided a $500,000 line of revolving credit to provide working capital for growth.
Commenting on the financing, Susan Duer, the CEO and President of the company, was quoted as saying: “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”.
FinSMEs
26/05/2010