By Sharda Associates | CA Firm, Bhopal
Most business owners know they need a CMA Report for their bank loan. But when their CA or bank officer asks for documents — they are caught off guard. They run around collecting papers for days — sometimes weeks — losing precious time that could have been spent getting their loan processed.
The reality is simple. If you have the right documents ready before you approach your CA for CMA preparation — your report gets prepared faster, your bank submission happens sooner, and your loan gets approved earlier.
At Sharda Associates, a qualified CA firm in Bhopal, Madhya Pradesh, we prepare CA-certified CMA Reports for bank loans starting at Rs.2,999 — accepted by SBI, PNB, Bank of Baroda, and all major banks across India. In this complete guide we have listed every single document you need — organised by category — so you can gather everything in one go and get your CMA Report prepared without any delays.
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What is a CMA Report and Why Do Banks Need It
A CMA Report — Credit Monitoring Arrangement Report — is a set of 7 standardised financial statements that banks require before approving any business loan above Rs.10 lakh. It was introduced by the Reserve Bank of India to give banks a consistent, reliable way to evaluate every borrower’s financial health using the same format.
The 7 statements in a CMA Report cover your past financial performance, current financial position, projected revenue and expenses for the next 3 to 5 years, working capital requirement, MPBF calculation, fund flow analysis, and ratio analysis including DSCR.
Banks use these 7 statements to answer one fundamental question — will this business generate enough cash to repay the loan on time for every year of the repayment period?
Without the right documents, a CA cannot prepare an accurate CMA Report. And without an accurate CMA Report, your bank cannot process your loan application.
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Complete Documents Checklist — CMA Report
Category 1 — KYC Documents
These are the basic identity and address verification documents required for all loan applications including CMA Report preparation.
Aadhaar Card of all promoters and directors — both sides. PAN Card of all promoters and directors. Passport-size photographs of all promoters — 2 each. Address proof — if address on Aadhaar is different from current address, provide utility bill or bank statement showing current address. For partnership firms — partnership deed with all partner signatures. For private limited companies — Memorandum of Association and Articles of Association, Certificate of Incorporation, and board resolution authorising the loan application.
Category 2 — Business Registration Documents
Banks verify that your business is legally registered and operating before processing any loan application.
GST Registration Certificate — GSTIN number. Udyam Registration Certificate — mandatory for all MSME loans including CGTMSE and PMEGP. Shop and Establishment Certificate — for service businesses and retail establishments. Factory Licence — for manufacturing businesses if applicable. FSSAI Licence — for food processing and food business operators. Drug Licence — for pharmaceutical and medical store businesses. Trade Licence from local municipal authority — if applicable to your business type. IEC — Import Export Code — if your business involves import or export. Any other specific industry licence or regulatory approval relevant to your business.
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Category 3 — Financial Documents Past Performance
This is the most critical category for existing businesses. Banks use your historical financial data to verify that your projected figures in the CMA Report are realistic and achievable.
Income Tax Returns — ITR Last 2 to 3 years ITR of the business — with computation sheet and acknowledgement. Last 2 to 3 years ITR of all individual promoters — with computation sheet and acknowledgement. If the business is a company — corporate ITR for last 2 to 3 years.
Audited Financial Statements Last 2 to 3 years audited Balance Sheet. Last 2 to 3 years audited Profit and Loss Statement. Last 2 to 3 years audited Cash Flow Statement — if available. Notes to accounts for each year. Auditor’s report for each year.
GST Returns Last 12 months GSTR-3B returns — monthly summary returns. Last 12 months GSTR-1 returns — outward supply returns. GST annual return — GSTR-9 — if filed. Banks cross-check your ITR turnover against your GST turnover — any inconsistency between these two figures triggers immediate queries.
Bank Statements Last 12 months bank statements of all business accounts. Last 6 months bank statements of all personal accounts of promoters — for some banks. If you have multiple bank accounts — statements of all accounts are required.
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Category 4 — Current Loan Details
Banks need complete information about all existing loans before sanctioning any new loan. This information goes into the CMA Report’s liability section and affects the DSCR calculation.
Sanction letters of all existing loans — term loans, working capital, vehicle loans, home loans, any other loans. Latest repayment schedule for each existing loan. Last 12 months repayment track record — bank statement showing EMI deductions. Outstanding balance certificate from each existing lender — for loans above Rs.5 lakh. If you have a working capital CC or OD account — last 12 months CC/OD account statement showing drawing power and outstanding.
Category 5 — Asset and Property Documents
For secured loans — banks require property documents. Even for CGTMSE collateral-free loans — banks need an asset list for the balance sheet in the CMA Report.
For owned property — sale deed or title deed. Latest property tax receipt. Approved building plan — for commercial properties. Valuation report from bank-approved valuer — if bank requires it. For rented premises — registered lease agreement or rent agreement. For machinery and equipment — purchase invoices and receipts. List of all business assets — machinery, furniture, computers, vehicles — with purchase dates and current book values.
Category 6—Project-Related Documents
These documents are specific to the new project or business expansion for which the loan is being taken. They help the CA prepare the projected financial statements in the CMA Report.
Detailed cost estimate of the project — land, building, machinery, working capital, pre-operative expenses. Machinery quotations from authorised suppliers — at least 2 quotations for major machinery. Civil construction estimate from contractor — for new building or renovation. Land documents — if land purchase is part of the project cost. Existing infrastructure details — if using existing premises. Raw material details — suppliers, current prices, availability. Product or service details — what you sell, at what price, to which customers.
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Category 7 — Projected Financial Information
Even though the CA prepares the projections, you need to provide the basic assumptions and business data that form the foundation of those projections.
Expected annual revenue for next 3 to 5 years — even rough estimates are fine. Major expense heads and approximate amounts — raw material, labour, rent, utilities, marketing. Expected production capacity — for manufacturing businesses. Current selling price of products or services. Expected growth rate of the business — realistic estimates. Any planned major expenses in the next 3 to 5 years.
Our CA team at Sharda Associates helps you structure these assumptions correctly — ensuring your projections are realistic enough to be credible and strong enough to support loan approval.
Category 8 — Scheme-Specific Documents
If you are applying under a specific government scheme — additional documents are required alongside the CMA Report.
PMEGP Applications EDP Training Certificate — mandatory for all PMEGP applications. Aadhaar-linked bank account details. Category certificate — SC/ST/OBC/minority/women/ex-serviceman — if applicable. Rural area certificate — if applying under rural category. Special category certificate — if applicable.
CGTMSE Applications Valid Udyam Registration — mandatory. No objection certificate from existing lenders — if applicable. Business vintage proof — for existing businesses applying for enhancement.
CMEGP Applications — Madhya Pradesh MP domicile certificate. Caste certificate — if applicable. EDP training certificate from MP government approved training centre.
NABARD Applications Land ownership documents or lease agreement. Animal purchase quotations — for dairy and livestock projects. Fodder availability certificate — for dairy projects.
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Documents Required
| Document | New Business | Existing Business |
| Aadhaar + PAN | Mandatory | Mandatory |
| GST Registration | Mandatory | Mandatory |
| Udyam Registration | Mandatory | Mandatory |
| ITR — Last 2-3 years | Not available | Mandatory |
| Audited Balance Sheet | Not available | Mandatory |
| Bank Statements | Personal only | Business + Personal |
| Existing Loan Details | Not applicable | Mandatory |
| Project Cost Estimate | Mandatory | Mandatory |
| Machinery Quotations | Mandatory | Mandatory |
| Revenue Projections | Provide rough estimates | Provide rough estimates |
For new businesses without ITR or audited financial statements — do not worry. Our CA team at Sharda Associates prepares complete projections based on real industry benchmarks and market research. Many of our 12,500 plus clients were first-time entrepreneurs with zero financial history when they first contacted us.
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Common Document Mistakes That Delay CMA Report Preparation
Based on our experience of preparing 12,500 plus CMA Reports at Sharda Associates, these are the most common document-related mistakes that delay the process.
ITR and GST turnover mismatch — Many businesses show different turnover in ITR and GST returns. Banks cross-check these figures. If they do not match, the CA needs a written explanation before proceeding with projections.
Missing auditor’s report — Many businesses provide only the Balance Sheet and P&L but forget to include the auditor’s report and notes to accounts. These are mandatory for the CA to verify the authenticity of financial statements.
Incomplete bank statements — Providing 6 months statements when the bank requires 12 months — or providing statements for only one account when the business has multiple accounts — causes delays.
Old machinery quotations — Machinery quotations older than 3 months are generally not accepted by banks. Always get fresh quotations before approaching your CA.
Missing GSTR returns — Many businesses file ITR but do not provide GST returns. Banks cross-check both — missing GST returns cause significant delays.
How Sharda Associates Helps You
At Sharda Associates our process is designed to make document collection as simple as possible for you.
When you contact us — our CA team gives you a customised document checklist specific to your business type, loan amount, and specific bank. You send documents by WhatsApp or email — no office visit required. Our CA team reviews your documents and immediately tells you if anything is missing — before starting work — so there are no surprises midway.
We prepare your complete CMA report—all 7 statements, CA-certified with ICAI stamp—in 3 to 5 working days from the date we receive your complete documents. We also prepare your project report, detailed project report, and feasibility report alongside the CMA report—ensuring complete consistency across all documents submitted with your loan application.
All revisions are completely free — unlimited — until your bank is fully satisfied and your loan is approved.
Conclusion
Having the right documents ready before approaching your CA for CMA Report preparation is the single most effective thing you can do to speed up your bank loan process. Every missing document adds days — sometimes weeks — to your timeline.
Use this complete checklist to gather everything in one go — KYC documents, business registration, financial statements, bank statements, existing loan details, project documents, and scheme-specific papers — and your CMA Report will be prepared and delivered without any delays.
At Sharda Associates our CA team prepares your complete CMA Report — all 7 statements, CA-certified with ICAI stamp — in 3 to 5 working days. We serve clients across all states of India — fully online — with unlimited free revisions until your loan is approved.
Call or WhatsApp — +91 89899 77769
Frequently Asked Questions
Q1 : What is the most important document for CMA Report preparation?
For existing businesses — last 2 to 3 years ITR and audited Balance Sheet are the most critical documents. For new businesses — machinery quotations and project cost estimate are most important.
Q2 : Can CMA Report be prepared without ITR?
Yes — for new businesses without ITR our CA team prepares complete projections based on industry benchmarks. For existing businesses without ITR — the bank may require an explanation letter
Q3 : How many years of financial data is required for CMA Report?
Most banks require last 2 to 3 years of audited financial statements and ITR. Some banks require only last 2 years. Our CA team will tell you exactly what your specific bank requires.
Q4 : Do I need GST returns for CMA Report preparation?
Yes — last 12 months GSTR-3B and GSTR-1 returns are required. Banks cross-check ITR turnover against GST turnover — inconsistency between the two causes queries and delays.
Q5 :What if my audited accounts are not ready yet?
Provisional unaudited accounts can be used for CMA preparation in some cases — with a note that audited accounts will be submitted separately. Our CA team will advise you on the best approach for your specific situation
Q6 : Do I need a Project Report along with the CMA Report?
Yes — for most loan applications above Rs.10 lakh both a Project Report and CMA Report are required together. We prepare both as an integrated package ensuring complete consistency between all figures.
Q7 : How long does it take to prepare a CMA Report after documents are submitted?
Standard delivery is 3 to 5 working days from the date we receive your complete documents. Urgent delivery in 24 to 48 hours is available for time-sensitive bank deadlines.
Q8 : What if I am missing some documents?
Call us at +91 89899 77769 before gathering documents. Our CA team will tell you exactly what is mandatory for your specific loan type and what can be substituted or deferred