The Perspective Of Relationship Lending, Sme Financing Problems

Both developed and developing countries, newly industrialized countries and regions have recognized the important position of SMEs in the economic development. The SMEs of our country highlight their importance more and more in promoting our country's economic growth, creating social wealth, pushing technological advancement, increasing exports, creating jobs and maintaining social stability and so on. Although the status of SMEs in our country's economy is increasing and the important role of SMEs is also outstanding, the financing problem of SMEs has not been solved. Although our country has taken a number of supporting policies for SMEs in recent years, the financing problem is still a stumbling block that plaguing the development of SMEs.A lot of literatures show that due to asymmetric information caused many of the problems of financing of SMEs is an important reason; these problems can be summarized as the financing gap, bank loans restriction, higher"bad loans"and so on. Certainly, there are other reasons that cause the financing problem of SMEs, including less own assets, lack of collateral, lower credit rating, low lever of firm management, the limited real profitability of investment projects and so on.The traditional theory and practice of foreign countries show that relationship lending as a loan financing technique to solve the asymmetric information, provides a new perspective for the financing problem of SMEs of our country. A lot of literatures also show that small and medium sized banks are effective carriers among the development of banks and SMEs(That is, small banks have a natural advantage in relationship lending), but small and medium banks in our country seem to prefer large companies rather than SMEs, SMEs financing main supply dislocation occurs, how to understand the contradiction between the foreign theory and practice and the reality of our country, discuss the relationship of our country's small and medium banks and SMEs, develop the market of small and medium banks, improve the lending relationship between banks and firms, are all essential for solving the financing problem of SMEs. Certainly, banks provide loans to SMEs are not simply to facilitate SMEs access to financing, and actively seek and nurture high-quality SMEs, but also relate to changes in the competitiveness of the banks themselves and future development strategies. Overall, the relationship lending between banks and SMEs is a"win-win"financing mode.This paper reviews the research results of the relationship lending at home and abroad, covering the definition and theory of relationship lending, empirical research of relationship lending and so on.? Secondly, focusing on the core theories of the relationship lending, including credit rationing under asymmetric information theory, modern financial intermediation theory, incomplete contract theory, the advantage theory of small and medium sized banks and the dynamics of relationship lending on SMEs, further emphasize the theoretical analysis of relationship lending in SMEs financing can effectively alleviate the financing. In the third part of the article, analyzes the definition of SMEs, describes the important position and role of SMEs, and then analyzes the financing situation of SMEs and the main reason for difficulties in financing, financing problem is not only the problem of enterprises, as well as the financial institutions and macroeconomic environment.? Foreign experience and theory all suggest that small banks and financial institutions have a strong tendency to lend to SMEs. The fourth part, the empirical analysis is verified by small and medium sized banks to promote SMEs financing, and the conclusion shows that our country should actively develop small and medium banks. At the last part, with the conclusion earlier, and learn from international experience, propose how to develop relationship lending in our country, as well as the development of ideas and policy recommendations to SMEs financing.