A lender may submit an application on behalf of an applicant
if the applicant meets the following requirements:
(1) if an individual, the applicant is a United States
citizen and a resident of the State of Texas, or an entity in good
standing and legally authorized to conduct business in the State of
Texas;
(2) provides evidence that the applicant's farm, ranch,
or agriculture-related business is or will be located within the state;
and
(3) provides evidence of acceptable equity in the project
in accordance with the commercial lender's underwriting standards.
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