After reviewing the material submitted under Section 58.053, the board shall consider the following factors in deciding whether to approve an application for a loan guarantee:
(1) the anticipated benefits from granting a loan guarantee to the applicant, including both potential job creation and commercial benefits to the agricultural industry;
(2) the applicant's qualifications;
(3) the feasibility of the applicant's plan; and
(4) other repayment sources available to the applicant.