The Study Of The SMEs’ Finance Based On Development Financial Theory

In the national economy and social development SMEs pay an important position and role. Along with our country market economy unceasing development, the SMEs play a more important role in many aspects such as product innovation, industrial structure adjustment, regional economic rise, solving the problem of employment and the transfer of rural labor force. Basing the theory of development financial, development financial shall make a contribution in the field of "three farming", SMEs, education,public health, livelihood or enrich people project.In practice, development finance undertook a lot of design and construction financing mechanism for SMEs. Research reflect that the "wholesale" loan mode can solve the contradiction between the Development Finance Institution(DFI) less staff, short management radius, restraint of national policy and the loan characteristic of "short, sharp, frequency" of SMEs. "The four Platform and one Association" pattern reflects the DFI has a very good effect in the financial system, credit construction and market construction. By the following aspects, the paper makes some researches in detail about SMEs Lending Based on Development Financial.A combined guarantee mechanism design of mutual guarantee and professional guarantee institutions is advised to cope with financing problems of SMEs. Through constructing an unperfected dynamic game model on SMEs, We analyze the SMEs credit loan market success in three circumstances of no guarantee, full guarantee and combined guarantee. In the situation of full guarantee, if the high rick SMEs’ collaterals are large enough, the SMEs credit loan market would be success. If the high rick SMEs’ collaterals are small value and high rick SMEs’are a small proportion, the SMEs credit loan market would be part success. In the situation of combined guarantee, under some constraint condition, the SMEs credit loan market would be success without any collateral.Based on the development financing, we establish a SMEs loan pricing model. The model combines the traditional cost pricing model and leadership pricing model. It considers the mechanism construction, social responsibility, strategic customers and other factors. The mechanism construction affects no only the bank’s operating costs, but also the SMEs’ loan business of the development of financial institutions. Strategic customers reflect the bank business development direction. The social responsibility is the values of development financial. Considering three factors, the pricing model comply with the development financial institution’s business characteristics and to guide the actual business. In addition, due to the consideration of mechanism construction and strategic customer factors, it have incentive effect on cooperation institutions or strategic customers.From a long-term perspective, through the loan pricing, it have advantage in the risk control and the development of business. Using this model, it can accurate differential pricing for each loan. The loan pricing will become more scientific, standardized and changes the extensive management pattern.Thought the logistic and linear regression model, we make an empirical study of factors impacted the credit availability of SMEs bade on development financial.We analysis the "hard" information (financial characteristics) or the "soft" information affect the credit availability of enterprise. The banks pay little attention to the financial characteristics of SMEs. Further thought regression, it shows that the credit availability (relative to the number of enterprise capital) is closely related to the scale of the company, loan type, loan history in other bank and the company’s ownership structure. Except for the factor of ownership structure, the other variables are positively related to the credit availability. Look from the views of the bank, the SMEs lending technologies is "relationship lending" instead of "financial statements lending" technology in China development bank.The development financial institution plays an important role in achieving the development objectives of government, making up the market failure and alleviating the financing difficulties. This paper draws many conclusions which are advantage to the SMEs loans of development financial institution.