New York U.S. Senator Kirsten Gillibrand wants to see more money headed to rural areas in the state through credit and investment, and improved broadband access in rural areas.

“The economic downturn froze credit for small businesses and stifled entrepreneurship, particularly in rural areas,” Gillibrand said in a statement outlining her plan for rural areas such as the North Country.

“As a result, rural small businesses struggle to grow, and have fewer resources to turn to for credit – increasing demand on federal lending programs, such as the USDA’s Business & Industry (B&I) Guaranteed Loan Program.”

Gillibrand is co-sponsoring the Rural Access to Credit Act, legislation that she says would:

· Help community banks expand their lending capability in rural areas by making the B&I loan requirements more similar to commercial lending standards.

· Expand loan options for rural small businesses by allowing loans to be used for refinancing and lines of credit.

· Make the USDA B&I Guaranteed Loan Program more responsive to small business needs by reducing red tape for loans less than $1 million and expediting approvals.

· Raise the loan guarantee level to 90 percent for loans up to $10 million

· Align USDA's calculation of loan delinquency rates with the Small Business Administration's.

To increase access to broadband in rural areas, Gillibrand will introduce the Broadband Connections for Rural Opportunities Program Act (B-CROP Act) – legislation that would create a new competitive rural broadband grant program to provide adequate resources to private sector providers as well as state and local governments, institutions of higher education, and nonprofit economic development organizations to expand broadband access to underserved rural areas. The bill also aims to streamline and improve broadband grant and loan programs.

She also advocates extending federal water and wastewater infrastructure programs in rural communities and funding these projects at FY2010 levels.