Small Businesses Get Easier Loan Access Under Revised State Scheme

The state government has revised its loan scheme for small and medium enterprises, easing collateral requirements and shortening approval timelines under the new rules.

The trade department said many small entrepreneurs had previously struggled to secure loans for want of collateral. The revised scheme offers collateral-free lending up to a defined threshold.

Entrepreneurs in the handloom and food-processing sectors have welcomed the move. "We can now access the working capital we need to take on larger orders," said one weaving business owner.

The department said the new rules are already in effect, with applications now open at district industry centres.