Author
LoansJagat Team
Read Time
4 Min
24 Jun 2025
In a major boost to local businesses and budding entrepreneurs, Tiruchirappalli recently witnessed a unique financial event aimed at empowering startups and MSMEs.
The “Business Loan Festival for MSMEs & Startups” was jointly organised by EDII-ABIRF (Entrepreneurship Development and Innovation Institute - Atal Incubation Centre at Bharathidasan Institute of Rural Entrepreneurship Development Foundation) in collaboration with the Bank of India.
Held On: Monday, June 23, 2025,
Timings: 10:00 AM to 6:00 PM
Location: EDII-ABIRF Seminar Hall, situated in the CM Block of the University College of Engineering, BIT Campus, Anna University, Trichy.
This dedicated loan mela was a timely opportunity for micro, small, and medium-sized businesses and early-stage startups to gain direct access to financial aid and expert counselling, all under one roof.
The loan mela wasn’t just about disbursing funds. The major goal of this mela was a comprehensive support platform for entrepreneurs.
Here's what attendees gained access to:
The event was kept exclusive and high-impact, with only 50 slots reserved for pre-registered MSMEs and incorporated startups. According to a report by The Times of India, around 35 representatives of startups and small businesses actively participated in the event.
This initiative, supported by Bank of India, was specifically crafted to provide a “golden chance” to local businesses that are operationally sound but need that final push through funding and mentorship.
Post evaluation and eligibility screening, at least 22 businesses were assured financial support by the end of the event. Furthermore, several startups presented demonstrations of their products and scalability models efforts that caught the attention of banking officials and may translate into future funding opportunities.
After a thorough assessment of each applicant’s business model, existing capital, and projected scalability, business loans between ₹3 lakh to ₹7 lakh were sanctioned to qualifying enterprises. Importantly, the loan value was calculated based on 90% of the enterprise’s current capital valuation, ensuring realistic and need-based financial aid.
This thoughtful evaluation mechanism provided businesses not only with funding but also ensured that the loans remained within repayable limits for the borrower.
The Business Loan Festival by EDII-ABIRF and Bank of India in Tiruchirappalli marks a significant step toward fostering grassroots entrepreneurship. For MSMEs and startups struggling with credit access, the event offered a practical solution — combining immediate financial assistance with long-term advisory support.
Such initiatives, if scaled and replicated across other regions, can become catalysts for inclusive economic growth and help build a robust MSME ecosystem in India.
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LoansJagat Team
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