Section 4279.215 - Credit evaluation(a) Lenders must analyze all credit factors associated with each proposed loan and apply its professional judgment to determine that the credit factors, considered in combination, to ensure loan repayment. The Lender must have an adequate underwriting process to ensure that loans are reviewed by someone other than the originating officer. The Agency will only guarantee loans that are financially sound and feasible with reasonable assurance of repayment.(b) In its credit evaluation, the Agency will consider the following factors: (1) The feasibility of the Project and Borrower and likelihood that the Project and Borrower will produce sufficient revenues to service the Project's debt obligations over the life of the loan guarantee and result in sufficient returns to investors;(2) Project and Borrower debt structure and characteristics and debt repayment ability;(3) Revenues of the Project and Borrower, strength and duration of off-take contracts and counterparty agreements, market demand and competitive position;(4) Technical feasibility, demonstrated performance of the technology and readiness to commercialize the technology;(5) Ownership structure of the Project and Borrower, strength of ownership and sponsors, commitment and amount of equity investment from ownership, sponsors and other equity investors;(6) Operational management and experience;(7) Complexity of construction/completion, terms of construction contracts, experience and financial strength of the construction contractor or engineering, procurement, and construction (EPC) contractor;(8) Availability and depth of resource/feedstock market, strength and duration of purchase agreements, and availability of substitutes;(9) Contracts and intellectual property rights, and state and local regulations;(10) Energy, infrastructure and environmental considerations;(11) The extent to which Project Costs are funded by the guaranteed loan or other Federal and non-Federal governmental assistance such as grants, tax credits, or other loan guarantees;(12) Economic safeguards of the Project including contingency reserve funds and protections and safeguards provided to the Agency and Lender in the event of default through loan collateral and ownership and sponsorship guarantors, and;(13) Other criteria that the Agency deems relevant.