Company Success Linked To Arundel Business Loan Fund

Annapolis, MD (March 1, 2011) - Managed hosting and cloud provider SidusData (www.sidusdata.com) today celebrated its final payment against a     7-year loan through the Arundel Business Loan (ABL) Fund.  This loan gave SidusData the support they needed to build their high capacity data center in Annapolis, which resulted in driving new business and employment into Anne Arundel County.

Since the loan’s origination in 2004, SidusData reports it has tripled in both revenue and number of employees, currently employs 28 people, and has an aggressive growth strategy in place for the future.  “The ABL Fund gave us the boost that we needed to grow and prosper,” said SidusData CEO Jason Silva, “Without the support of the Anne Arundel Economic Development Corporation (AAEDC), the rapid growth that Sidus Data has experienced over the past seven years would not have been possible.” The ABL Fund is one of the many business services provided at the AAEDC (www.aaedc.org).

“Anne Arundel County has a strong community of technology entrepreneurs with cutting edge business ideas,” said Anne Arundel County Executive John Leopold.”  “With Fort Meade, NSA, and some of the nation’s top defense and technology companies located in Anne Arundel County and seeking innovations, it is important to support businesses such as SidusData.”

The loan was part of a strategic plan to further the growth and development of IT in Anne Arundel County.  It assisted SidusData, who had been leasing space in several locations in Northern Virginia, the opportunity to integrate its Datacenter within the building that houses the Chesapeake Innovation Center (CIC) (www.cic-tech.org), Anne Arundel County’s technology business accelerator.  This location has since provided CIC member companies such as Pharmathene, Inclinix and Real User easy access to external data storage and cloud computing.

“Success stories such as SidusData’s highlight exactly the purpose of the ABL Fund – to stimulate business growth and help create quality employment opportunities,” said Robert Hannon, AAEDC president and CEO.  “The ABL Fund is an important financing source specifically designed for the County’s small business community.”   

The Anne Arundel Economic Development Corporation ABL Fund offers SBA guaranteed loans of up to $300,000 to qualified borrowers doing business in Anne Arundel County.  Loans from the ABL Fund can be used for equipment, leasehold improvements, and working capital.  Business financing through the ABL Fund is made possible with the support of a consortium of 16 banks – Bank of America, SunTrust, BB&T, Howard Bank, M&T Bank, PNC Bank, Severn Savings Bank, Bank Annapolis, Sandy Spring Bank, The Bank of Glen Burnie, The Columbia Bank, Susquehanna Bank, Carrollton Bank, CommerceFirst Bank, First Mariner Bank, and Revere Bank.  For more information about the ABL Fund, contact Joe Timer, AAEDC VP Financial Services, at 410-222-7410 or This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

Photo Attached
Pictured: Left - Joe Timer, AAEDC VP Financial Services and  Right - Jason Silva, SidusData CEO

About SidusData
Since 1999, Sidus Data has been providing Managed Cloud Hosting and Web Design for businesses and governmental agencies throughout the community, U.S., and the world. With an integrated approach of hosting, technical support, and customized design and marketing solutions, Sidus has created and implemented strategies in support of our customer’s goals. For more information please visit www.sidusdata.com or call 410-897-1050 or 888-99-SIDUS.

About Anne Arundel Economic Development Corporation
The Anne Arundel Economic Development Corporation (AAEDC) mission is to serve business needs and to increase Anne Arundel County’s economic base through job growth and business investment.  AAEDC manages local revitalization projects, supports existing businesses, recruits new businesses, provides and facilitates loans to new and expanding businesses, and provides advice, information and services related to business and economic development in Anne Arundel County, MD. Additional information about AAEDC is available on the Internet at www.aaedc.org.