Tabung Pembangunan Usahaniaga Peladang (TPUP) Malaysia
Tabung Pembangunan Usahaniaga Peladang (TPUP): How Can The Loan incentive from Agriculture Department Malaysia Help in Agricultural Entrepreneurship
Agriculture is where all it starts. Malaysia has a great climate for agriculture, we have known this fact for quite a long time. Agriculture, as a field of business, has a lot of potential in Malaysia, and this is another thing that is not unknown. Due to this reason, the government of Malaysia has been bringing many schemes and incentives with its approach to attract more entrepreneurs in this field, and among them is the Tabung Pembangunan Usahaniaga Peladang (TPUP). And today we talk about everything you will need to know about the scheme.
Tabung Pembangunan Usahaniaga Peladang (TPUP): What Is It All About
The Tabung Pembangunan Usahaniaga Peladang is a scheme from the Ministry of Agriculture and Agro-based Industry (MOA). It has been funding farmers to help them turn agriculture into money bearing business.
With this scheme, the moderator, Lembaga Pertubuhan Peladang (LPP), provides farmers with the needed financial resources up to RM 50,000 with a grace period of 60 months, to help them not depend on the government funding only. Besides, this is an incentive providing loans with no interest rate. Anyway, they charge 3% of the funds as the processing fee. The program is also a government’s way of implementing its plan of helping every farmer’s income reach to at least RM 4,000 per month.
Farmers can use the funding for any agricultural job, including cultivation or animal husbandry to increase the productivity and improve the quality. Also, farmers from any part of Malaysia can apply for the program and the agriculture ministry Malaysia expects it to attract more entrepreneurs in the field of agricultural business.
Here are the conditions to be fulfilled by the individual to be eligible for the program.
- Should be a Malaysian citizen in the field of agriculture.
- The individual should be a member of an area farming organization.
- A minimum stock of at least RM200 is needed.
- The project should be in the field of agriculture; any other areas are not allowed.
- The individual should be able to invest some capital themselves; this is in order to motivate them to get in their business.
- Should have a liable project and have managed a project area, or land for cultivation or animal husbandry.
You can apply for Tabung Pembangunan Usahaniaga Peladang (TPUP) in case you fulfil all the requirements for the program. For this, first, you will have to get the application form from any regional establishments of PPK. There, you will need to provide your agricultural project details and also other relevant information. After that, you will need to submit it to the nearest KDP office. Then they will be call you for an interview. Also, they will inspect your project with a field visit. You will get the funds after your application is processed and approved.
Well, this was it for the Tabung Pembangunan Usahaniaga Peladang (TPUP). I hope this article will help you. To learn more, you may also read about guide to start business in Malaysia.