CMA data preparation and presentation is necessary for bank loan or working capital loan or for seeking CC limit.By submitting CMA data report with right ratios and proper presentation of usage of funds, your chances of getting the loan has been increased. Provided you follow other procedures and requirements of banks.
WHATS INCLUDED IN CMA REPORT ?
data is Credit Monitoring Arrangement data. It is the report to be presented to bank to show your past financial history, current financial position and future financial planning.It covers 7 statements related to finance.
Audited P & L A/c & Balance Sheet of at least last 1 year, estimates of current year & projections of next at least 2 years are provided to bank by the applicant along with Funds Flow Statement, Ratio Analysis, Comparative Statement of Current Assets & Current Liabilities & Statement of Maximum Permissible Bank Finance. Number of years for which data is required may vary from bank to bank. Even after getting the finance such data is required to be submitted to the bank periodically.
Credit Monitoring Arrangement data. As per RBI guidelines, CMA data is required for Project Loans, Term Loans and Working Capital Limits. Thisdata is to be provided by a company to bank for getting the loan from bank and every year, for renewing or enhancing their existing Bank loan.
CMA Reports are required for getting project finance and such data is required to be submitted to the bank periodically for renewal.
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