Axuda, Inc. ( “Axuda”, “we”, “us”, “our”) works to provide financial resources in the form of microloans to members of our local community (“Borrowers”) who are struggling to meet their short term financial needs. Our goal is to provide a forum for Borrowers to tell their stories and crowdfund loans from lenders (“Lenders”) via the Axuda web platform (the “Axuda Program”).
The loans offered through Axuda are unsecured, and are generally considered “high risk” because of the high risk of default. Borrowers likely could not access credit or receive loans from traditional financial institutions for a variety reasons, including a lack of credit history and the use of loan proceeds. Lenders can donate funds to Axuda, and then direct those donated funds to the Borrower(s) they choose by funding all or a portion of that Borrower’s loan request. Borrowers are expected to repay their Axuda loans, and lenders can loan any repaid funds to new Axuda borrowers. All lender contributions to Axuda, including Axuda “loans,” are charitable donations.
The loans to Borrowers from Lenders through the Axuda Program (“Loans”) are unsecured and bear a high risk of non-repayment.
Axuda works with organizations (“Sponsors”) to identify Borrowers for participation in the Axuda Program. Loan requests are posted on the Website only in cooperation with Sponsors. Lenders may direct funds they have donated to Axuda and loaded into their Axuda accounts to the Borrowers and loan requests that they select on the Website. Axuda and the Sponsors have no responsibility or liability with respect to the screening or selecting of any Borrowers and Lenders understand that they loan funds at their own risk.
Any material (including without limitation text, images, audio material, video material and audio-visual material) that you submit to the Website, for whatever purpose, shall constitute User Content (“User Content”).
You hereby grant to Axuda a worldwide, irrevocable, non-exclusive, royalty-free license to use, reproduce, adapt, publish, translate and distribute your User Content in any existing or future media. You also grant to Axuda the right to sub-license these rights, and the right to bring an action for infringement of these rights.
User Content must not be illegal or unlawful, must not infringe any third party’s legal rights, and must not be capable of giving rise to any legal action whether against you or Axuda or a third party. You must not submit any User Content to the Website that is or has ever been the subject of any threatened or actual legal proceedings or other similar complaint. You also agree to fully indemnify and hold harmless Axuda from any third-party claim, proceeding or complaint brought against Axuda or its licensors based on your User Content.
Axuda reserves the right to approve, edit or remove any material submitted to the Website or hosted or published upon the Website, including, without limitation, any material that Axuda deems in its sole discretion to be offensive, abusive, harmful, negative, or to constitute spam or advertisement. Axuda reserves the right to restrict, suspend or terminate the account or participation of any User from the Website at any time, with or without prior notice. Axuda does not undertake to monitor the submission of User Content to, or the publication of such content on, on the Website.
Axuda will make a reasonable attempt to contact any Lender who fails to log into their Axuda account for a continuous six month period by sending an email notification to the email address associated with that Lender’s account. If the Lender does not respond to Axuda’s notice within thirty (30) days from the date of the notice, the balance of any funds that have been credited to that Lender’s account will become an unrestricted donation to Axuda.
Axuda is not responsible or liable for any incorrect or inaccurate information posted on the Website, and is not responsible for any liability, cost or expense you may incur in connection with the Axuda Program. You understand that Axuda has not verified any of the information or content posted by Borrowers or Sponsors on the Website. You also acknowledge that Sponsors are not liable to you for content posted on the Website, and Sponsors do not guarantee repayments by any Borrowers. Axuda is not responsible for the conduct of any User of the Website. Further, Axuda is not responsible for any error, omission, deletion, delay in transaction, communications line failure, destruction of or unauthorized access to, or alteration of any content on the Website or communication from Axuda.
You acknowledge that any and all of your decisions with respect to the Axuda Program (including without limitation, decisions made regarding which Loan(s) to fund) are made independently by you. You acknowledge that Axuda is not a bank or other financial institution or investment adviser, broker or dealer, Axuda is not acting as your fiduciary, and neither Axuda nor any Sponsor assumes an advisory or fiduciary responsibility with respect to you in connection with your participation in the Axuda Program.
Axuda is not responsible for any loss or damage, including, without limitation, personal injury or death, resulting from any use of the Website or participation in the Axuda Program, including without limitation any content posted, uploaded, or otherwise shared on the Website or any interactions between any Users of the Website, whether online or offline.
THE WEBSITE AND AXUDA PROGRAM, INCLUDING, WITHOUT LIMITATION, ANY CONTENT OR INFORMATION CONTAINED WITHIN IT, IS PROVIDED "AS IS" WITH NO REPRESENTATIONS OR WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT. YOU ASSUME TOTAL RESPONSIBILITY AND RISK FOR YOUR USE OF THE WEBSITE AND PARTICIPATION IN THE AXUDA PROGRAM.
Axuda shall not be responsible or have any liability for any decisions or interactions resulting from your participation in the Axuda Program, or any damages, costs, losses or expenses you incur as a result of your participation in the Axuda Program or your use of the Website.