The department shall adopt rules:
(1) prescribing the form and content of applications for loans and the required conservation plan;
(2) governing the application of the criteria for awarding loans and the procedure for the review of applications by conservation district supervisors, the committee, and the department;
(3) providing for the servicing of loans, including arrangements for obtaining security interests and the establishment of reasonable fees or charges;
(4) providing for the confidentiality of financial statements submitted; and
(5) prescribing the conditions for making loans.