As a student at Drexel, Marfo could not afford to foot the bill to visit her family home in Ghana during semester breaks:
“I wanted to see my family in Ghana during school breaks, but couldn’t afford the $2,000 ticket,” she recalled. “I stayed in the dorm alone or with other international students who couldn’t go home. Because of this personal frustration, I set out to determine how to make travel more accessible.” -Ama Marfo
Marfo ultimately took her disadvantage and created an opportunity. Airfordable is making traveling around the world more realistic for people with low income.
Here’s how it works:
Airfordable is a web based company allowing travelers to enroll in a (low interest rate) micro loan to help pay for flights and assists in repayment.
With Airfordable travelers are required to submit a snapshot of their travel itinerary, an initial deposit is paid, and payment arrangements are set up to pay off the remainder of the flight through affordable installments (installments that can be made all the way up to the date of the departure).
One of the biggest differences between this micro loan and a personal loan is that this service can be provided without a hard inquiry into your credit. This increases the chances of approval for people with fair to poor credit.
Inspired to help individuals in the same predicament, especially international college students, Marfo has created a successful business helping people fly on a budget.
According to Forbes, since 2015 Airfordable has assisted at least 10,000 travelers to finance their flights and travel on a budget. Future expansion includes micro loans for vacation packages, hotels, etc.