CMA Template
The Credit Monitoring Arrangement (CMA) format is the lender's lens on your business. Use this template to assemble the inputs an institutional lender or private credit fund will need before they can sanction a working-capital or term-loan facility.
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What the cma template covers
The full contents of the PDF are reproduced below so you can review them before downloading. Prepared for cfos and finance teams preparing a working-capital or term-loan proposal.
Form I — Particulars of Existing & Proposed Limits
- Existing fund-based limits with lender, sanction date and outstanding
- Existing non-fund-based limits (LC, BG, buyer's credit)
- Proposed enhancement / new facility with sub-limits and security
- Inter-lender consortium / multiple-lender arrangement details
- Pricing, tenor and amortisation schedule for each facility
Form II — Operating Statement (2 yrs actual + projections)
- Gross sales, net sales and sales mix by segment
- Cost of goods sold, gross margin and contribution analysis
- Selling, general and administrative expenses
- Depreciation, interest, tax and PAT
- Cash accruals and retained earnings reconciliation
Form III — Analysis of Balance Sheet
- Current liabilities — borrowings, sundry creditors, statutory dues
- Term liabilities — secured loans, unsecured loans, debentures
- Net worth — paid-up capital, reserves and surplus
- Current assets — inventory, receivables, cash & equivalents, advances
- Fixed assets — gross block, accumulated depreciation, net block
Form IV — Comparative Balance Sheet & Ratios
- Current ratio, quick ratio and TOL/TNW
- Debt-equity, interest cover and DSCR (existing & projected)
- Inventory days, debtor days and creditor days
- Return on capital employed and return on net worth
- Asset coverage and security cover for the proposed facility
Form V & VI — Working Capital Assessment
- Maximum Permissible Finance (MPBF) — Method I and II
- Build-up of inventory holding norms by stage and category
- Debtors holding norms by customer segment and geography
- Margin contribution from net working capital
- Sensitivity for sales growth, margin compression and collection delays
Fund-Flow & Supporting Notes
- Sources and uses of funds for the projection period
- Capex plan with vendor quotes and commissioning schedule
- Assumptions note — sales growth, pricing, raw material, FX
- Sensitivity tables and downside / base / upside cases
- Auditor's certificate on past financials and provisional accounts
Frequently asked questions
- What is CMA data?
- CMA (Credit Monitoring Arrangement) data is a standardised financial statement pack — typically Form I to Form VI — that lenders use to assess past performance, projections and the permissible level of working-capital finance.
- How is MPBF calculated?
- Under Method I the lender funds 75% of working-capital gap after deducting the borrower's margin; under Method II the borrower must fund 25% of current assets from long-term sources. Both are set out in Form V of the template.
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