(1) there is a reasonable assurance of repayment of the loan;
(2) the financial assistance is not otherwise available on reasonable terms from private sources or from federal or other territorial government programs;
(3) the amount of the loan, together with other funds available, is adequate to assure completion of the project or achievement of the purposes for which the loan is made;
(4) the loan bears interest at a uniform, established rate for all borrowers: provided, however, that the Loan Policy Board, upon recommendation of the Director, may establish a new rate from time to time, taking into consideration the going rate on commercial loans made by banks and financial institutions in the United States Virgin Islands and the general condition of the economy;
(5) fees not in excess of amounts necessary to cover administrative expenses may be required on loan guaranties or direct loans.
(6) loans made for the purchase of inventory or motor vehicles shall be repayable in not more than five years;
(7) loans made for the purchase of equipment shall be repayable in not more than ten years;
(8) loans made for the acquisition of land; or the construction, conversion or expansion of buildings shall not exceed 50% of the total loans to new small business concerns; and shall not be made unless at least three banks doing business in the United States Virgin Islands have refused to grant a conventional mortgage loan on the property at a rate of interest normally charged on such loans in the United States Virgin Islands with a term of fifteen years;
(9) no loan shall be made to any corporation unless the repayment of such loan is guaranteed by all stockholders of such corporate borrower.