BETA Technologies, an electric aircraft company based in Burlington, has received a $169M loan from the U.S. Export-Import Bank. The loan was made possible thanks to international interests and will be used to further the growth trajectory of the company.
President Biden highlighted this investment as a valuable contribution from the Asia Pacific into the U.S. private sector. 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.
The loan will allow BETA Tech to continue to serve a global customer base and further its growth potential. 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 emphasized 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.