Since 2017, the Boys & Girls Clubs of Stoneham & Wakefield has participated in a valued community partnership with the Axuda program.
Axuda is a non-profit organization that provides small, short-term interest-free loans of up to $600.00 to individuals and families in need. There is no credit reporting and the loan term is one year. The organization’s unique approach helps neighbors borrow through crowdlending. This pay it forward lending model allows Lenders to use dollars to fund another community member’s loan request as borrower’s repayments are made.
Axuda has created an online community that brings together Lenders, Sponsors, and Borrowers to make an impact.
Katie Cafferty, Development Associate, at the Boys & Girls Clubs of Stoneham & Wakefield commented “We are proud to work with an organization that promotes meaningful ways to support people in the community. A recent federal study showed that 78% of Americans are living paycheck to paycheck and two-thirds of Americans lack an emergency fund which is why partnerships like this are so important..”
If you or someone you know is struggling financially with an unforeseen important expenses such as a much-needed home repair, car repairs, assistance with daycare expenses, the first security deposit for housing, or even the cost of books required for college courses, please contact [email protected].