BETA Tech, a Burlington-based tech company, is set to receive a $169M loan from the U.S. Export-Import Bank. This loan is a result of international interests in the company’s growth trajectory and its current and potential customers, which include economies like New Zealand, India, and Japan.
President Biden has emphasized the significance of this loan as an investment from the Asia Pacific into the U.S. private sector. This boost in funding is expected to support job creation in Vermont and expand manufacturing production in America. Vermont Senator Peter Welch has expressed his support for the loan, noting that it will help BETA Technologies lead the world in innovative aviation technology and contribute to creating more sustainable jobs in Vermont.
This loan marks an important milestone for BETA Tech as it continues to build its reputation as a global leader in electric aircraft technology.