Small And Medium-sized Enterprise Credit Guarantee System Research

Small and medium-sized enterprise (SME) financing is a major problem, which has disturbed the small and medium-sized enterprise development. Especially after the2008financial crisis, our country executes the tightening monetary policy, and the market is less money flow. At the same time, small and medium-sized enterprises in their own business operation is poorer and the credit of enterprises is lower,small and medium-sized enterprises from external financing becomes more difficult. However, the development of SME not only to the macro economy has played a vital role, but also in absorbing employment, technology innovation and rich market, meeting the diverse needs of regional economic development and promotion has irreplaceable role. To solve this problem, the effective way is that guarantee agencies use their own credit for guarantee of the small and medium-sized enterprise financing and enlarge the financial institutions credit in small and medium-sized enterprises.This paper introduces the theory related to the credit guarantee of SME firstly, which proposes that information asymmetry is a major cause of SME financing difficulties, and credit guarantee as the information transmission of third party, can correct the asymmetric information situation effectively. Then, the paper analyze the financing difficulties of small and medium-sized enterprises from realistic viewpoint., which puts forward the point is that credit guarantee agencies as the information transmission of third party, can effectively unblock small and medium-sized enterprise financing channel. In the international reference, comparing the mature experience of the establishment of SME, credit guarantee system is developed. And then, combining of the small and medium-sized enterprise credit guarantee system of the existing problems, this paper puts forward the suggestions that develop and improve our country credit guarantee system, and make preliminary assumption for small and medium-sized enterprise credit guarantee system of future development.The main content and the conclusions are as follows:Financing is the bottleneck of restricting the development of SME. Throughout the enterprise of endogenous and exogenous financing, we find that the threshold of bank loan is relatively small, and the scope of small and medium-sized enterprises has a wide applicability Small and medium-sized enterprises loans difficult is that the root cause of the small and medium-sized enterprises and the information asymmetry between the bank, and the resulting credit rationing, market failure and moral hazard problems. And the fact of the credit guarantee as between the bridge of the information can effectively solve the problem of asymmetric information.From the type of guarantee agencies classification, analyzed the policy guarantee agencies, commercial guarantee agencies and mutual guarantee agencies to their characteristics and the insufficiency. There are many drawbacks that social parties support the credit guarantee of small and medium enterprises, and which become the main problem to constraint the development of guarantee industry in China.Combined with developed countries and regions of the mature credit guarantee system and the characteristics of the situation of our country, puts forward the credit guarantee agencies for small businesses from the diversification and additional funding mechanism to improve bank relations of cooperation. The government also needs to increase the support strength as well as small and medium-sized enterprise credit system is established. And for small and medium-sized enterprise credit guarantee system of the future development direction to make outlook, we hope small and medium-sized enterprise credit guarantee institute can become small and medium-sized enterprise integration financing services.