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.