Sme Credit Re-guarantee Institution Building

In recent years, SMEs unceasingly rose to the national economy, however, financing difficultly is always "the bottleneck", which restricts SMEs' healthy development.In order to alleviate SMEs' financing difficulties, various forms of SMEs credit guarantee institutions have been established. And afterwards, a credit guarantee industry has been formed gradually. But a large number of them are facing new problems, such as lack of capital, lack of risk diversification mechanism, which cause some guarantee institutions to closure as a result of the compensation. At this time, credit re-guarantee institution is appealed to arrive, and the necessity of establishment obtains the social affirmation from all walks of life.Re-guarantee theories are introduced, for re-insurance theory, re-loans theory and so on. And comparisons between international and domestic re-guarantee experiences are completed. On the objections of credit guarantee system, re-guarantee institution's construction is the system necessity. All above form the basis of the re-guarantee instituion's construction.After building the models of commercial and political operational re-guarantee institutions, and using mathematical analysis, we find that the commercial operational re-guarantee institutions are more efficiency. So, government should provide the fund, and they should follow commercial operation. In view of Hunan Province's credit guarantee organizations exceptional case, survey questionnaires had been sent to investigate their operational efficiencies. Low magnification, small business volume, large risks undertook are the common characteristics of the three types guarantee institutions, "non-compensation guarantee institutions", "strong debt redemption ability guarantee institutions" and "low property quality guarantee institutions". Therefore, in accordance with the province's realities, specific program elements and specific establishment way are proposed.