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Beta Technologies stands to receive nine-figure financing from the Export-Import Bank of the United States, a transaction that would be a significant vote of confidence both in the company itself and in future prospects for electric aircraft on the international market.
A recently published notice in the Federal Register indicates that the Vermont-based electric aircraft developer has applied for a long-term loan or financial guarantee in excess of $100 million. The Air Current understands the actual amount to be around $150 million.
The money would be used to finance Beta’s manufacturing facility under EXIM’s Make More in America initiative, which is focused on helping small and medium-sized enterprises compete for global sales, especially in sectors critical to America’s national security.
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