BETA Tech, a burgeoning electric aircraft company based in Burlington, has secured a $169M loan from the U.S. Export-Import Bank. This significant investment is thanks to international interests, as the company has shown considerable growth potential and has current and potential customers in economies like New Zealand, India, and Japan.
The loan was hailed by President Biden as a valuable 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, expand manufacturing production in America, and lead the world in innovative aviation technology.
This loan will enable BETA Tech to further its growth trajectory while continuing to serve a global customer base. The 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 Welch emphasized the importance of this loan’s impact on the innovative aviation technology industry and its potential for BETA Tech to become a leader in this field.
BETA Technologies’ success story is an excellent example of how private enterprise can drive innovation and economic growth while benefiting society as a whole. With this newfound support from EXIM Bank, BETA Tech is well-positioned to continue its upward trajectory and make an even greater impact on the aviation industry.