1. Borrower profile & initial credit bottleneck

  • Two private banks declined the file because the borrower is a Public Charitable Trust registered under the Maharashtra Public Trusts Act, 1950, requiring prior borrowing and mortgage permission from the Charity Commissioner under Section 36A.
  • Standard monthly EMI schedules created artificial cash-flow gaps in April and May because school tuition fees are collected in three academic term tranches (June, October and January).
  • The new academic wing could admit its first batch only in June of the following academic year.

2. How the file and cash-flow waterfall were structured

  • Prepared the Section 36A application package demonstrating public-purpose asset creation, trustee resolution and fee-surplus repayment capacity, securing Charity Commissioner permission.
  • Structured a ₹14.00 crore Institutional Term Loan with a public-sector bank at 9.15% p.a. featuring an 18-month construction moratorium aligned with the June academic intake.
  • Replaced flat monthly principal repayments with term-aligned balloon instalments falling due in July, November and February — matching fee collection peaks and achieving a 1.69x average DSCR.

3. Before vs. after sanction comparison