Loan Mela by OASME for Startups & MSMEs to provide crucial financial assistance, guidance to entrepreneurs
Bhubaneswar(19/02/2025): The Odisha Assembly of Small and Medium Enterprises (OASME) in collaboration with MSME Department, Government of Odisha has successfully organized the “Loan Mela”for Startups and MSMEs today, providing crucial financial assistance and guidance to entrepreneurs across the state.
The event, held in Institute of Entrepreneurship Development, Odisha, Bhubaneswar, witnessed an overwhelming response, with more than 1000 Startups, MSMEs & aspiring entrepreneurs participating to explore funding opportunities. The Loan Mela served as a vital platform for bridging the gap between financial institutions and entrepreneurs, ensuring seamless access to credit facilities.
Leading banks such as IndusInd Bank, State Bank of India, South Indian Bank, Bank of Maharashtra,Kotak Mahindra Bank, IDBI Bank, HDFC Bank, Bank of Baroda, Canara Bank, Union Bank, SIDBI, Bank ofIndia, UCO Bank and Central Bank of India and financial service providers participated, offering various funding solutions tailored to the needs of small businesses and emerging enterprises. Speaking at the event, Hemant Sharma, Additional Chief Secretary, MSME Department, Government of Odisha, emphasized the importance of financial accessibility for business growth, stating, Government of Odisha is continuously working to empower Startups and MSMEs by providing them with the necessary financial backing to scale their businesses.
The success of this Loan Mela reflects the strong commitment of financial institutions toward fostering entrepreneurship in Odisha." Satwik Swain, Secretary General, OASME said, “We have signed an MoU with SIDBI to facilitate loans for MSMEs and Startups in the state, marking a first-of-its-kind initiative in Odisha.
This strategic partnership aims to streamline access to financial assistance, ensuring that small businesses receive the necessary funding to scale and succeed.
Further, we are excited to see such an overwhelming response from entrepreneurs at the Loan Mela, reaffirming the need for such platforms that bridge the gap between businesses and financial institutions." Several entrepreneurs expressed their gratitude for the opportunity to connect directly with banks and gain valuable insights into financial planning.
Many participants received instant in principle approvals and commitments for loans, which will significantly contribute to their business expansion. The event was organised in collaboration with MSME Department, Government of Odisha, SIDBI, Startup Odishaand key stakeholders in the startup ecosystem.
OASME reaffirmed its commitment to continuing such initiatives to boost financial inclusion and foster entrepreneurship in the state. Pradyumna Choudhury, Deputy General Manager, SIDBI, Gautam Patra, SLBC Head & General Manager, UCO Bank, P.K.Gupta, IEDS, Joint Director HOO, MSME DFO, Cuttack, Bibhuti Bhushan Dash, IOFS, Special Secretary, MSME Department, Government of Odisha andJyotirmayee Mohanty, Chairwoman, OASME Women Wing were also present.
