To be eligible for a loan guarantee, a guaranteed lender must be:
(a) A financial institution in good standing that has been a concurrent lender with RUS; or
(b) A legally organized lending institution, such as commercial bank, trust company, mortgage banking firm, insurance company, or any other institutional investor authorized by law to loan money, which must be subject to credit examination and supervision by a Federal or State agency, unless the Agency determines that alternative examination and supervisory mechanisms are adequate.