; and (ii) be scheduled to be amortized over the remaining term of the loan. (C) Criteria (i) In general Any payment deferral under subparagraph (A) shall be contingent on the eligible infrastructure project meeting criteria established by the Board of Directors. (ii) Repayment standards The criteria established under clause (i) shall include standards for reasonable assurance of repayment. (4) Prepayment of direct loans (A) Use of excess revenues Any excess revenues that remain after satisfying scheduled debt service requirements on the eligible infrastructure project obligations and direct loan and all deposit requirements under the terms of any trust agreement, bond resolution, or similar agreement securing project obligations under this Act may be applied annually to prepay the direct loan, without penalty. (B) Use of proceeds of refinancing A direct loan under this Act may be prepaid at any time, without penalty, from the proceeds of refinancing from non-Federal funding sources. (j) Loan guarantees The terms of a loan guaranteed by IFA under this Act shall be consistent with the terms set forth in this section for a direct loan, except that the rate on the guaranteed loan and any payment, prepayment, or refinancing features shall be negotiated between the obligor and the lender (as defined in section 601(a) of title 23, United States Code) with the consent of the Chief Executive Officer. (k) Compliance with Federal Credit Reform Act of 1990 (1) In general Except as provided in paragraph (2), direct loans and loan guarantees authorized by this Act shall be subject to the provisions of the Federal Credit Reform Act of 1990 ( 2 U.S.C. 661 et seq.). (2) Exception Section 504(b) of the Federal Credit Reform Act of 1990 ( 2 U.S.C. 661c(b) ) shall not apply to a loan or loan guarantee under this Act. (l) Policy of Congress It is the policy of Congress that IFA shall only make a direct loan or loan guarantee under this Act if IFA determines that IFA is reasonably expected to recover the full amount of the direct