BETA Technologies, a Burlington-based electric aircraft company, is set to receive a $169M loan from the U.S. Export-Import Bank thanks to international interests. The loan is being hailed as a valuable investment from the Asia Pacific into the U.S. private sector by President Biden and Vermont Senator Peter Welch.
The loan is specifically aimed at supporting BETA Tech’s growth potential and its current and potential customers in economies such as New Zealand, India, and Japan. With this support from the EXIM Bank, BETA Technologies will continue to create sustainable jobs in Vermont while expanding manufacturing production in America, making it a leader in innovative aviation technology.
The loan will enable BETA Tech to further their growth trajectory and serve a global customer base, benefiting not only the company but also the economy by creating more sustainable jobs in Vermont and expanding manufacturing production in America. 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.