The council may make a loan or grant only if the council determines that:
(1) the loan or grant is consistent with the findings and purposes of this chapter because it primarily adds value to Montana's agricultural products;
(2) the project for which the loan or grant is made has prospects for achieving commercial success given the current personnel, experience, and resources of the applicant;
(3) the project for which the loan or grant is made is anticipated to create new jobs or retain existing jobs in the state;
(4) the loan or grant is primarily intended to be used for processing or adding value to agricultural products produced or potentially produced in the state; and
(5) the applicant has a management structure that allows the council to reasonably conclude that the applicant will comply with ongoing reporting requirements and postdisbursement monitoring activities established by the council.