Vermont-based tech company BETA Tech is receiving a $169M loan from the U.S. Export-Import Bank thanks to international interest. The loan will support the growth of the electric aircraft company, which has shown significant potential and has customers in economies like New Zealand, India, and Japan.
President Biden highlighted this investment as a valuable move from Asia Pacific into the U.S. private sector. Vermont Senator Peter Welch also applauded the decision, stating that with EXIM Bank support, 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 EXIM Bank will allow BETA Tech to further their growth trajectory and 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 emphasized the positive impact this loan will have on the innovative aviation technology industry and BETA Tech’s potential to lead the world in this area.