(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.