Trichy Hosts Special Loan Mela for MSMEs and Startups – Check Offers and Eligibility

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.

Also Read - MSME Alert: New Govt Loan Schemes For 2025 Growth

What Did the Business Loan Festival for MSMEs and Startups Offer?

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:

1. Same-Day Business Loans: One of the main attractions of the event was the promise of on-the-spot loan approvals ranging from ₹1 lakh to ₹1 crore, tailored specifically for MSMEs and startup ventures.
   
   
2. Personalised Credit Counselling: Entrepreneurs received one-on-one financial counselling, helping them understand their business's creditworthiness and structuring a suitable loan product.
   
   
3. Advisory on Capital and Government Schemes: The event featured expert guidance on working capital loans, term loans, and navigating government-backed MSME support schemes.
   
   
4. Direct Bank Interaction: Participants had the rare opportunity to engage directly with banking officials, discuss their business needs, and clear doubts without any intermediaries.

How Many MSMEs and Startups Attended This Festival?

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.

How Many MSMEs and Startups Received Financial Aid?

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.

Read More – The Fastest Way to Get a Business Loan Approved

MSMEs and Startups Got Loans of What Value?

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.

Conclusion

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.
 

Apply for Loans Fast and Hassle-Free

Apply Now

About the Author

LoansJagat Team

‘Simplify Finance for Everyone.’ This is the common goal of our team, as we try to explain any topic with relatable examples. From personal to business finance, managing EMIs to becoming debt-free, we do extensive research on each and every parameter, so you don’t have to. Scroll up and have a look at what 15+ years of experience in the BFSI sector looks like.