The office by rule shall establish the eligibility requirements for a loan to a small business under this subchapter. The requirements must include that the small business:
(1) is in good standing under the laws of this state;
(2) does not owe delinquent taxes to a taxing unit of this state;
(3) has suffered physical damage or economic injury as a result of the event leading to the disaster declaration; and
(4) has paid in full any previous loans received under this subchapter.