Hunter, NY – A new $4.8 million loan will allow New York’s Hunter Mountain Ski Bowl to upgrade its lifts in coming years.nThe KeyBank loan will be 90% guaranteed by the USDA Rural Development, a federal government agency that normally guarantees 80% of such loans. The remaining 10% comes from the American Recovery and Reinvestment Act of 2009, more commonly referred to as economic stimulus money.

“Today’s announcement is an example of how the Obama Administration is working to create jobs and rebuild and revitalize rural America to ensure the working people in small communities throughout the country have a brighter future,” Agriculture Secretary Tom Vilsack said on Friday in announcing the funding. “The loan guarantees we are announcing will help businesses to grow and promote job creation to promote economic opportunity in rural communities.”

The loan is part of a $14 million package to reinvigorate Hunter’s facilities. The new base-to-summit high-speed six-pack chairlift being installed at Hunter this summer will replace the Snowlite Express quad, which will be rebuilt and moved to Hunter West, where it will replace the resort’s Z and Y lifts.