Axuda Inc.

Axuda Inc. is a 501(c)(3) non-profit organization dedicated to providing financial assistance to individuals facing short-term financial difficulties. The organization operates by facilitating interest-free microloans, leveraging a crowdlending model where numerous individuals contribute small amounts to support borrowers in need.

Mission and Objective

Axuda's mission is to help local communities by offering a platform where borrowers can request and receive financial aid for essential expenses such as vehicle repairs, moving costs, and education fees. Borrowers must be endorsed by a sponsor, typically a non-profit community organization or employer, which assesses the borrower's need and ability to repay the loan.

How Axuda Works

1. Loan Requests: Borrowers, often endorsed by non-profit sponsors or employers, submit loan requests ranging up to $600. These requests are posted on Axuda's platform for funding.
2. Crowdlending: Lenders contribute amounts starting as low as $10 to fund these requests. The loans are interest-free and repayable over a maximum period of one year.
3. Repayment and Reuse: As borrowers repay their loans, the funds are returned to the lenders' accounts, allowing them to support additional loan requests.

Key Features

• Tax Deductibility: Contributions to Axuda, including lending funds, are considered charitable donations and are tax-deductible to the extent allowed by law.
• Privacy and Security: Axuda emphasizes privacy protection, ensuring that personal financial information is safeguarded and not sold to third parties.
• Community Impact: Axuda's model promotes community engagement and support by enabling individuals to contribute directly to the needs of their neighbors.

Significance and Impact

Axuda's approach fills a gap in traditional lending by providing accessible financial aid to those who might not qualify through conventional means. By fostering a cycle of giving and repayment, Axuda enhances community resilience and promotes social welfare.

[1] https://www.axuda.org/FAQ.aspx [2] https://www.axuda.org [3] https://www.axuda.org/PrivacyPolicy.aspx [4] https://www.axuda.org/Browse.aspx [5] https://www.axuda.org/Profile.aspx?ID=26