Approval of loan.

(1) In approving a loan, the office shall: (a) review the loan application, plans, and specifications for the project; (b) determine whether or not to grant the loan by applying the office's eligibility criteria; and (c) if the loan is granted, prioritize the energy efficiency project by applying the office's priority criteria. (2) The office may provide conditions on a loan to ensure that: (a) the proceeds of the loan will be used to pay the cost of the project; and (b) the project will be completed.