; (dd) shall ensure loans made available to all eligible borrowers have a maturity of no less than seven years; and (ee) shall prohibit eligible lenders from requiring additional collateral beyond minimum collateral requirements the Board of Governors of the Federal Reserve System may require. . (b) Deadline Not later than the end of the 5-day period beginning on the date of enactment of this Act, the Board of Governors of the Federal Reserve System shall issue such rules or take such other actions as may be necessary to implement the requirements made by the amendments made by this section. 605. Options for small businesses and non-profits under the main street lending program (a) In general Section 4003(c)(3)(D)(ii)(II) of the CARES Act ( 15 U.S.C. 9042(c)(3)(D)(ii)(II) ), as added by section 110604, is further amended by adding at the end the following: (cc) shall provide at least one low-cost loan option that small businesses, small non-profits, and small institutions of higher education (as such term is defined in section 101(a) of the Higher Education Act of 1965 ( 20 U.S.C. 1001(a) ) are eligible for that does not have a minimum loan size and includes the ability to defer payments, without capitalization of interest. . (b) Deadline Not later than the end of the 5-day period beginning on the date of enactment of this Act, the Board of Governors of the Federal Reserve System shall issue such rules or take such other actions as may be necessary to implement the requirements made by the amendments made by this section. 606. Safe banking (a) Short title