The U.S. Export-Import Bank has approved a $169M loan to BETA Tech, a Burlington-based tech company that specializes in electric aircraft. The loan is being hailed as a valuable investment from the Asia Pacific into the U.S. private sector, thanks to international interests in the company’s significant growth potential and current and potential customers in economies like New Zealand, India, and Japan.
President Biden highlighted this move as an important step towards creating more sustainable jobs in Vermont and expanding manufacturing production in America. Senator Peter Welch also applauded the decision, stating that with the support of the EXIM Bank, BETA Technologies will continue to lead the world in innovative aviation technology while also benefiting the economy by creating more sustainable jobs in Vermont and expanding manufacturing production in America.
The loan from the U.S. Export-Import Bank will allow BETA Tech to further their growth trajectory and continue to serve a global customer base. This investment will not only benefit the company but also contribute to the development of innovative aviation technology on a global scale, with BETA Tech potentially leading the way in this area.