A Study On Syndicated Loan From Small Loan Companies And Commercial Banks

The paper summarizes the present situation and the fundamental reason of why it is hard for small-and-medium-sized enterprises (SME) to borrow and hard for commercial banks to loan, which is that the SME high risk and the bank low risk preferences do not match. The paper indicates the newly solution: to reduce the bank's risk awareness and the loans risks to make up for the match between supply and demand. This is the research angle throughout this paper. Based on the above point, the article introduces the advantages of the loans from small loan companies (SLC) to SME, and bring forward the new ideas of combined loan mode of the commercial banks and the SLC.The second part reviews the theory of small-and-medium enterprises financing and the traditional system of bank's risk sharing. Based on the finacial agency theory of information discrepancy, the banks become weak in processing the information under the traditional way, and it's hard to lower the risk recognition to the SME and also hard to manage the risk sharing. So the SME loan requires more reasonable ways to replace the bank's traditional angent function of information processing and it turns out that the SLC is the best choice. This part provides the theoretical evidences and standing points for the mode of combined loans of the banks and the SLC.The third part analyzes the features of the bank's risk sharing system under the traditional mode and points out the existing disadvantages to process the SME loan issues: On the guaranty and surety methods, the property guaranty and the third party surety are both the risk sharing party and they can lower the SME risks efficiently, but the bank's preference of low risk requires more on the property guaranty, which could never be accomplished by the SME. Besides, the development status of the third party of surety agent widely determines the usage of the assured loan, which still makes the SME loan hard to match the bank's risk preference. The union loans and debts dispart the union enterprises'business risk to each single one and the bank, which can effectively make up the risk matching problems between the capital suppliers and demanders. But it requires time and cost, and the difficulty with the scale enlargement increase. That will weaken the organization for the adequacy. Therefore, requires an innovation loan to solve the problem.Based on the analysis of the theory of loan capital pool built together by various small banks, it makes the innovation and development to introduce the mode of union capital pool of the bank and the SLC, and dissertates that, under this mode, the SLC's information advantage and loan sharing can make up the bank's problems of information discrepancy and high loan risks, while, the bank's capital advantage can make up the SLC's capital limitation. In this chapter on the way of loans to build, the process design and try to study in the process of practice, thus effectively alleviate the SME loan difficult problem.