A borrower must file an application with the Center to receive a loan under the Program. The application must be signed by the chief operating officer or an authorized officer of the nonprofit organization. The application must contain any information the Center determines is necessary, including: the projected cost of the qualifying energy system, energy efficiency action, or technical assistance being financed through the loan; the location of the property where the qualifying energy system will be installed or an energy efficiency action will occur and whether the property is owned or leased by the applicant; evidence that the borrower: is current on its registration status with the Secretary of State at the time the borrower submits the application; or is an exempt organization that is complying with any filing requirements of the Secretary of State related to exempt organizations; or certification that the borrower is not required to register or file as an exempt organization with the Secretary of State because the borrower does not solicit charitable contributions in the State; and any additional information relating to the borrower or the proposed qualifying energy system or energy efficiency action being financed through the loan that may be required by the Center to administer the Program. The Center may approve an application for a loan specified in § 10–867(a)(1) or (3) of this subtitle only if the application demonstrates that the proposed qualifying energy system or energy efficiency action is estimated, based on projected energy costs, to generate energy cost savings over the useful life of the system or energy efficiency action that equal or exceed the total amortized cost of the loan. In approving an application, the Center shall consider and give priority to an applicant that has an annual budget of $1,000,000 or less.