Burlington-based tech company BETA Tech is set to receive a $169M loan from the U.S. Export-Import Bank thanks to international interests. The loan is aimed at supporting the growth potential of the electric aircraft company, which has shown significant promise with current and potential customers in economies like New Zealand, India, and Japan.
President Biden has hailed the loan as an important investment from the Asia Pacific into the U.S. private sector. Vermont Senator Peter Welch also applauded 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 while leading the world in innovative aviation technology.
The loan from EXIM Bank will enable BETA Tech to further their growth trajectory and serve a global customer base. This investment will not only benefit the company but also the economy by creating more sustainable jobs in Vermont and expanding manufacturing production in America. Senator Peter Welch emphasizes that this loan will have a positive impact on the innovative aviation technology industry and position BETA Tech as a leader in this field.