; (II) the loan must be so sound as to reasonably assure repayment; and (III) subject to the approval of the Administrator, the Director of the Office of Credit Risk Management may require additional criteria. (ii) Lending criteria for loans of $350,000 or more With respect to a loan guaranteed under this section that is not less than $350,000, the Administration and lenders shall, as applicable, consider the following: (I) Credit history of the applicant (and the operating company, if applicable), and the associates and guarantors of the applicant. (II) Experience and depth of management. (III) Strength of the business. (IV) Past earnings, projected cash flow, and future prospects. (V) Ability to repay the loan with earnings from the business of the applicant. (VI) Sufficient invested equity to operate on a sound financial basis. (VII) Potential for long-term success. (VIII) Nature and value of collateral (although inadequate collateral may not be the sole reason for denial of a loan application). (IX) The effect any affiliate of the applicant may have on the ultimate repayment ability of the applicant. (iii) Lending criteria for loans of less than $350,000 With respect to a loan guaranteed under this section that is less than $350,000— (I) lenders shall use appropriate and generally acceptable commercial credit analysis processes and procedures consistent with those used for similarly-sized commercial loans that are not guaranteed by the Administration; (II) the Administration and lenders may use a business credit scoring model; and (III) the Administration and lenders shall, as applicable, consider— (aa) the credit score or credit history of the applicant (and the operating company, if applicable), and the associates and guarantors of the applicant; (bb) the earnings or cash flow of the applicant; (cc) any equity or collateral of the applicant