Research On Financing Problems Of Smes With Relationship Lending

The importance and effect of SMEs have been widely recognized by countries all over the world. And it's a consensus to pay more attention on developing SMEs. However, the financing predicament, which doesn't match with SMEs'important positions in economic development, has become the bottle-neck in their further growth. International researches on financing problems of SMEs show that, the financing predicament of SMEs caused by information asymmetry, its essence is the market failure in financial dealing. Meanwhile, empirical researches indicate that relationship lending is able to relieve credit market failure dramatically. Therefore, under the present condition of our country, it has great practical significance to research on SMEs relationship lending.This article begins with the relevant theories about SMEs and relationship lending. Based on these theories, from the angle of SMEs and by introducing the status quo of Chinese SMEs'relationship lending and domestic and foreign practical experience, the article finds out the factors effecting SMEs'relationship lending. Then based upon the sample points generated in Anhui province, the article establishes the multiple regression model of effect of SMEs'operating condition on relationship lending procurability, and then carries out empirical research on SMEs'relationship lending in Anhui Province.The conclusions of the empirical research are:One,enterprise gets more relationship lending as the credit relationship between bank and enterprise lasts longer; Two, amongst the distance between bank & enterprise, and the possibility of getting relationship lending, there is no strong relationship; There,the previous amount of credit, which is provided by the enterprise to the bank, will affect the enterprise's ability of obtaining relationship lending. In the end, the article proposes reasonable countermeasures and suggestions on the resolution of SMEs'financing problems, based on the result and analysis of empirical research and combining the status quo of SMEs'relationship lending in our country.