The University of the Philippines Los Baños, College of Agriculture (CA), now renamed as the College of Agriculture and Food Science (CAFS), established the CA Student Emergency Loan Fund (CASELF) in 1950s, with the objective of helping the CA students to meet their immediate financial needs especially for academic use. By October 24, 1969, CASELF was renamed College of Agriculture Fund for Emergency Loan (CAFEL).
The initial capital of the Fund came from CA emergency funds, contributions, donations coming from staff members and college organizations. At the start, the loanable amount is Php500.00 In 1998. It was increased to Php 2000.00 and eventually increased to Php 3000.00 by year 2000.