The Viking Resort is a small, inexpensive hotel on Baloy Beach, near Barrio Barretto in Subic Bay. The hotel has smallish but very comfortable rooms, a 24 hour bar and restaurant, and a fairly new swimming pool. I used to go there frequently for Filipino food – their portions are huge and it's delicious! They also have very good Pizza.
The beach is just across Baloy Beach Road, perfect for morning walks and evening swimming. You can get to Barrio Barretto by foot in about 20 minutes, or maybe 5 minutes by trike. There are sari sari stores all over the area, and Lucky Mike's convenience store is just down the street.
I like the Viking Resort. It's a very “Danish” place, and is very friendly and accommodating.
Oh – they also rent motorcycles and scooters – great deals.
Agoda has Fan Rooms for under $17.00, and Standard Rooms for under $30. Click the Website link in the upper right sidebar for details and pictures. Enjoy!