1. Payroll loan facility for small financial institutions (a) In general The Secretary of the Treasury shall establish a payroll loan facility which shall make loans to small financial institutions and which shall, to the maximum extent practicable, provide equivalent benefits and assistance that are provided by the Paycheck Protection Program. (b) Loan forgiveness The Secretary of the Treasury shall establish a loan forgiveness program with respect to loans made under subsection (a), that shall, to the maximum extent practicable, have the same requirements as the loan forgiveness program established under section 1106 of the CARES Act ( 15 U.S.C. 9005 ). (c) Definitions In this section: (1) Community development financial institution The term community development financial institution has the meaning given that term under section 103 of the Riegle Community Development and Regulatory Improvement Act of 1994 ( 12 U.S.C. 4702 ). (2) Small financial institution The term small financial institution means an institution that— (A) is a community development financial institution, minority depository institution, or rural bank