loan products & services
Basa Air Base Savings
and Loans Association Inc.
BABSLAI is engaged in the business of accumulating the savings of its members and using such accumulations for loans to members to service the needs of households by providing long term financing for home building and development and for personal finance.
It is not uncommon to experience being a victim of usurers and loan sharks among the residents of Basa Air Base among the marginal income earners. Having this in mind, Retired General Loven C Abadia and his concerned group, namely General Roberto A De Peralta, General Antonio E Sotelo, General Loven C Abadia, General Reymundo D Estuesta, General Reynaldo E Sile, Colonel Faustino J Maque, 2Lt (Ret) Isabelito A Sanchez, Atty. Apolinario S Diamante, Mr. Ernesto Morales and Mrs. Cravena A Ponce, thought of forming some sort of mutual benefit plan which can also provide opportunities to would be members within the vicinity of the Base to accumulate savings and at the same time earn extra income in form of dividends or profit sharing. They pooled their resources and expertise and founded what is now today as the Basa Air Base Savings and Loan Association, Inc. (BABSLAI).
BABSLAI is a non-stock, non-profit organization established on January 6, 1975 by ten incorporators headed by now Retired General Loven C Abadia. It aims to provide service on household needs and personal finances among its members. It started operation with a capital of P 104,783.54 with 224 members. At that time, BABSLAI had two employees with a small rented room for its office and two manual typewriters for its daily transactions. Loans were granted for a term of one year and with a maximum amount of P500.00.