SpaceX is seeking a $500 million loan to support programs including the Starlink internet satellite constellation and the BFR rocket, according to a report from Bloomberg.
Goldman Sachs is leading the talks with potential investors, the report said.
SpaceX’s valuation has reportedly climbed to about $28 billion as it’s proved to be a dependable vehicle for delivering cargo to space. The company has completed 17 missions this year, including satellite launches and supplies to the International Space Station.
NASA has also awarded SpaceX contracts to transport American astronauts to the space station.
SpaceX is also working on a plan to launch thousands of satellites that would beam high-speed internet back to Earth. Few details have been released on the plan and its timeline.