The purpose of this paper is to extend the analysis presented in Goswami et al. [ Phys. Rev. Lett. 96 031302 (2006)] by means of investigating how a specific type of loop (quantum) effect can alter the outcome of gravitational collapse. To be more concrete, a particular class of spherically symmetric spacetime is considered with a tachyon field \phi and a barotropic fluid constituting the matter content; the tachyon potential V(\phi) is assumed to be of the form \phi^{-2}. Within inverse triad corrections, we then obtain, for a semiclassical description, several classes of analytical as well as numerical solutions. Moreover, we identify a subset whose behavior corresponds to an outward flux of energy, thus avoiding either a naked singularity or a black hole formation.