(a) Any application for financial assistance shall be filed with the CID program manager of the foundation, on forms supplied by the foundation, and shall contain such information and data, in addition to that supplied in the preliminary application or current business plan, as may be requested by the CID program manager.

(b) The applications shall conform to applicable rules and regulations of the Economic Development Administration of the U.S. Department of Commerce, a copy of which shall be supplied to applicants by the foundation.

(c) The application shall contain a full disclosure of information regarding the principals of the applicant's business, including relationships with foundation officers and employees, if any.

(d) The application shall contain a full disclosure of all owners, officers, directors, partners or parties in interest of the business venture of the applicant, together with the total annual compensation of each, the percentage of ownership of each and the personal guarantee or insurance maintained by each for the benefit of the applicant, if any.

(e) The application shall contain a statement by the applicant of every payment made, or agreed to be made, by the applicant to any person or entity in connection with the preparation, filing or furtherance of the application. An applicant shall be required to submit proof of all facts relating to any such payment or agreement, at or prior to the closing of any agreement for financial assistance with the foundation and an application shall contain a statement that the applicant has read, understands and agrees to the provisions of this subdivision.

(f) The application must be complete, in proper form and verified by the applicant.