Subject to the conditions set forth in section 34 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 agricultural enterprise or rural development project would tend to accomplish the purposes of this chapter, including the creation or retention of employment in Indiana through the guarantee of the lease;
2. (2) the proposed borrower or lessee cannot obtain the loan or lease upon reasonable terms; and

3. (3) the proposed borrower, lessee, lender, or lessor has filed an application on a form prescribed by the corporation;

   the corporation may, under its guarantee program, guarantee the loan or lease upon the terms and conditions that the corporation prescribes.

As added by P.L.162-2007, SEC.26.