Kazakhstani microfinance organization Solva is offering clients auto-title loans of up to 20 million tenge while retaining driving rights. The product is available for a term of 12 to 60 months with processing in 30 minutes.
What Solva offers
The microloan is available in amounts from 200,000 to 20 million tenge — up to 90% of the vehicle’s market value. Passenger and commercial vehicles are accepted as collateral: passenger transport with up to 16 seats and freight transport up to 5 tons.
The borrower can choose one of two repayment types:
- Annuity — equal payments of principal and interest every month
- Discrete — monthly interest only, with the principal due at the end of the term
The company promises processing in 30 minutes with no issuance fees or hidden charges. Early repayment is possible without penalties. The main condition is that the borrower continues to use the vehicle.
Who needs this
Solva positions the product for entrepreneurs and business owners: to cover a cash gap, buy equipment or goods, or rent premises. For taxi drivers and couriers, retaining driving rights is critical — the car remains a working tool.
The discrete repayment scheme is suitable for businesses with seasonal income: they can pay only interest during the term and return the principal amount after receiving significant revenue.
Why it matters
In the Kazakhstani market, auto-title loans are traditionally offered by banks, but with longer processing times and strict document requirements. MFOs can operate faster and with less bureaucracy.
The 20 million tenge limit makes Solva a competitor to banks in the medium-sized business segment, where the speed of receiving money is often more important than the interest rate. For comparison: the average auto loan in Kazakhstan rarely exceeds 10–15 million tenge.
Retaining driving rights is a key difference from pawnshops, where the car must be left in a parking lot. This is especially important in Kazakhstan, where a car is often the only way to earn a living for private carriers.
What’s next
High collateral lending limits show how MFOs are trying to occupy a niche between banks and pawnshops. If the demand is confirmed, other microfinance companies may follow Solva’s example.
The question of interest rates remains — the calculator on the company’s website does not show specific figures, indicating only that the calculation does not take into account the conditions of financial protection. This may mean that the final cost of the loan depends on additional services.