In-kind credit assistance refers to a type of financial support or aid provided to individuals or organizations in the form of goods or services rather than direct monetary assistance. Instead of giving cash or loans, assistance is offered by supplying specific products, equipment, or services that can help the recipient meet their needs.

 

Below are the definitions of each kind of credit institution. 

 

1. Cooperative/Association - A duly registered association of persons with a common bond of interest, who have voluntarily joined together to achieve a lawful common social, economic end, making equitable contributions to the capital required and accepting a fair share of risks and benefits of the undertaking in accordance with universally accepted cooperative principles 

 

2. Farmers’/Fishermen’s Organization Farmer’s organizations – refer to farmers’ associations, or corporations duly registered with appropriate government agencies. They are composed primarily of small agricultural producers, farmers, farmworkers, and other agrarian reform beneficiaries who voluntarily join together to form business enterprises which they themselves own, control, and patronize. The government extends support to farmers’ organizations by providing farmers with appropriate policies, research, technology, and training, and financial, production, marketing, and other support services to enhance their agricultural productivity. Fishermen’s organizations are similar to farmers’ organizations, except that their members are fishermen, fishworkers, and/or fisherfolks and that their concerns are about fisheries and/or aquaculture. 

 

3. Local Government Unit An administrative and political government unit subsidiary to the national government. The LGUs in the Philippines, which consist of the provinces, cities, municipalities, and barangays are instituted through a system of decentralization, whereby they are given more power, authority, responsibilities, and resources to enable them to attain their fullest development as self-reliant communities and make them more effective partners in the attainment of national goals. They are the main points of contact for the delivery of basic services and national programs to the citizens. 

 

4. Office/Branch of National Government Agency/Institution Refers to an organization owned and operated by the government. Examples are penal colonies, agricultural schools, correctional institutions, National Development Corporation, Bureau of Plant Industry Experimental Station, and Bureau of Animal Industry 

 

5. Private Organization (e.g., Establishment/Individual) - refers to an organization owned and operated by a group of people with the same interest and who bonded themselves together. This excludes private corporations. Examples are charitable institutions and private schools. 

 

6. Non-Government Agency/ Organization - any nonprofit voluntary citizens’ group which is organized on a local, national, or international level. Task-oriented and driven by people with common interest, NGOs perform a variety of service and humanitarian functions: bring citizen concerns to Governments, advocate and monitor policies, and encourage political participation through the provision of information. Some are organized around specific issues, such as human rights, the environment, or health. They provide analysis and expertise, serve as early warning mechanisms, and help monitor and implement international agreements. 

 

7. Other in-kind Credit Assistance refers to in-kind credit institutions not mentioned above.