The electric aircraft company, BETA Tech, is receiving a $169M loan from the U.S. Export-Import Bank thanks to international interests. This loan is a significant investment in the growth potential of the company and its current and potential customers in economies such as New Zealand, India, and Japan.
The loan was highlighted 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 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 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 the economy by creating more sustainable jobs in Vermont and expanding manufacturing production in America. Senator Peter Welch emphasizes that this loan will have a positive impact on the innovative aviation technology industry and has great potential for BETA Tech to lead the world in this area.