BETA Tech, an electric aircraft company based in Burlington, has secured a $169M loan from the U.S. Export-Import Bank due to international interest. The loan is aimed at supporting the growth potential of the company, as well as its current and potential customers in economies such as New Zealand, India, and Japan.
The loan was highlighted by President Biden as a valuable investment from the Asia Pacific into the U.S. private sector. Vermont Senator Peter Welch also praised the move, stating that with the support of EXIM Bank, BETA Technologies will continue to create sustainable jobs in Vermont and expand manufacturing production in America. This will help lead the world in innovative aviation technology and have a significant impact on the industry.
The loan will allow BETA Tech to further its growth trajectory and continue to serve a global customer base. This investment will not only benefit the company but also contribute positively to the economy by creating more sustainable jobs in Vermont and expanding manufacturing production in America. Senator Peter Welch emphasized that this loan’s positive impact on innovative aviation technology industry and potential for BETA Tech to lead it globally are significant.