(b) Documentation in support of application. The application must include a detailed narrative statement describing:

1. (1) The types of businesses assisted in the past and those the applicant intends to assist with Microloans;
2. (2) The average size of the loans made in the past and the average size of intended Microloans;
3. (3) The extent to which the applicant will make Microloans to small businesses in rural areas;
4. (4) The geographic area in which the applicant intends to operate, including a description of the economic and demographic conditions existing in the intended area of operations;
5. (5) The availability and cost of obtaining credit for small businesses in the area;
6. (6) The applicant's experience and qualifications in providing marketing, management, and technical assistance to small businesses; and
7. (7) Any plan to use other technical assistance resources (such as counselors from the Service Corps of Retired Executives) to help Microloan borrowers.