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 for the electric aircraft company, which has shown significant growth potential and current and potential customers in economies like New Zealand, India, and Japan.
The loan was hailed as a valuable investment from the Asia Pacific into the U.S. private sector by President Biden. Vermont Senator Peter Welch also applauded the move, stating that with the support of the EXIM Bank, BETA Technologies will continue to create sustainable jobs in Vermont, expand manufacturing production in America, and lead the world in innovative aviation technology.
This investment will allow BETA Tech to further their growth trajectory and continue to serve a global customer base. Senator Peter Welch emphasizes the positive impact this loan will have on the innovative aviation technology industry and the potential for BETA Tech to lead the world in this area.