Subject to the conditions set forth in section 11 of this chapter and the other provisions of this chapter, if the corporation makes a written finding that:

1. (1) the guarantee of a particular loan secured by, or lease of, real property or tangible or intangible personal property to or for the benefit of any industrial development project, mining operation, or agricultural operation that involves the processing of agricultural products would tend to accomplish the purposes of this chapter, including the creation or retention of employment in Indiana through the guarantee of the loan or lease; and

2. (2) the proposed borrower or lessee cannot obtain the loan or lease upon reasonable terms;

   the corporation may, under the guaranty program, guarantee the loan or lease upon the terms and conditions prescribed by the corporation.

As added by P.L.162-2007, SEC.25.