(a) The corporation may provide financial assistance to recipients for eligible projects from any available moneys in the fund, if and to the extent the corporation determines that it is unable to, or that it is impractical or inadvisable to, finance all or a portion of the costs of an eligible project from the proceeds of bonds or notes that are special obligations of the corporation.

(b) The corporation may provide a short-term financing or a long-term financing as a direct financing.

(c) Interest rates for direct financings shall be determined by the corporation as an interest rate or rates no higher than the market rate of interest.