; and (iii) a business concern that leases or finances equipment to other businesses, if the business concern— (I) as of February 15, 2020, has not more than 5,000 full-time employees; and (II) is not— (aa) a mortgage lender; or (bb) a lender participating in the loan program under section 7(a)(36) of the Small Business Act ( 15 U.S.C. 636(a)(36) ). (7) Minority depository institution The term minority depository institution has the meaning given the term in section 308 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 ( 12 U.S.C. 1463 note). (8) Nonprofit organization The term nonprofit organization means an entity described in paragraph (3), (5), (6), (7) (related to housing), (12), (13), or (19) of section 501(c) of the Internal Revenue Code and that is exempt from taxation under section 501(a) of such Code. (9) Payroll costs The term payroll costs has the meaning given the term in section 7(a)(36)(A) of the Small Business Act ( 15 U.S.C. 636(a)(36)(A) ), except that such costs shall not include— (A) qualified wages taken into account in determining the credit allowed under section 2301(g) of the CARES Act ( Public Law 116–136 ); or (B) any payments made to an independent contractor. (10) Secretary The term Secretary means the Secretary of the Treasury. (11) Underserved borrower The term underserved borrower means any business concern that has traditionally had difficulty accessing finance, including— (A) business concerns that— (i) have fewer than 25 full-time equivalent employees as of February 15, 2020, and do not have a strong relationship with a bank; (ii) are owned or controlled by minorities; (iii) are owned or controlled by women; (iv) are owned or controlled by veterans, including service-disabled veterans (as those terms are defined in section 3(q) of the Small Business Act ( 15 U.S.C. 632(q) )); or (v) are located in low-income and rural communities, including low-income communities as defined in section 45D(e) of the Internal Revenue Code of 1986