Rural Broadband Improvement Act of 2007

Rural Broadband Improvement Act of 2007 - Amends the Rural Electrification Act of 1936 to extend the rural broadband access loan and loan guarantee program.

Revises the definition of "eligible rural area."

Establishes a non-duplification of terrestrial lines, facilities, or systems requirement.

Requires loan applications to be processed within 180 days.

Eliminates the eligibility prohibition for entities that serve more than 2% of the telephone lines installed in the United States.

Establishes a grant program for development of statewide initiatives to identify and track the availability and adoption of broadband services within eligible rural areas.

Sets forth loan security and equity requirement provisions.