Education institution funding document checklist

For schools, colleges and institutes in Maharashtra run by public trusts, societies or Section 8 companies, borrowing for buildings, buses, equipment or working capital. Lenders differ, so bring what applies to your institution.

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01Trust or society records

Trust deed, or society memorandum and rulesLenders check for an express power to borrow and to mortgage property.
Public trust registration certificate, and society registration if applicable
Current list of trustees, with accepted change reportsChanges must be reported to the Charity Commissioner within 90 days under Section 22.
Trustees' resolution approving the loan, security and signatories
PAN and Aadhaar of trustees and authorised signatories
For Section 8 companies: incorporation documents and board resolution

02Charity Commissioner and income tax

Charity Commissioner's prior sanction to borrow under Section 36A(3)Usually applied for after the lender's in-principle sanction.
Audited accounts filed with the Charity Commissioner
Income-tax registration under Section 332 (earlier 12A/12AB)Section 332 of the Income-tax Act, 2025; registrations under the old law continue.
Income tax returns of the trust or society

03Recognition and approvals

School recognition and board affiliation certificates
University affiliation and regulator approvals, for collegesFor example, AICTE approval for technical courses.
Fee approval recordsPTA executive committee decision for schools; Fees Regulating Authority approval for professional colleges.

04Students and fees

Class-wise or course-wise enrolment for recent years
Fee structure and fee collection records
Outstanding fees and RTE reimbursements receivable

05Financials and existing loans

Audited financial statements for the last 3 years
Recent bank statements of the institution
Sanction letters and statements of existing loans

06Project and property

Project cost estimate from an architect or engineer
Approved building plans and building permission
Land title deeds, or registered lease deed
Lessor's permission to mortgage, for CIDCO, MIDC or government leasehold land
Quotations for buses or equipment to be funded

Sources

L.A. Bill No. VI of 2016 — further to amend the Maharashtra Public Trusts Act (Section 36A(3) proviso) — Maharashtra Legislature Secretariat (via PRS Legislative Research)
Maharashtra Unaided Private Professional Educational Institutions (Regulation of Admission and Fees) Act, 2015 — Government of Maharashtra (via PRS Legislative Research)
Baroda Vidyasthali Loan — Bank of Baroda

Last reviewed 5 October 2026.

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Education institution funding document checklist

Education Funding

Loans for schools and colleges run by trusts and societies in Maharashtra

What lenders want in a project report (DPR) for a term loan

Project DSCR & repayment schedule

Sources

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