Study On Risk Management For Small&Medium Sized Enterprises Credit Guarantee Program

Credit guarantee system originated in1937in Japanese credit market, aiming to solve the financing problem of small and medium-sized enterprises. Chinese credit guarantee practice began in the early nineteen ninties, compared to developed countries, started relatively late, but the practice have proved that the problem of financing SMEs been alleviated to a certain extent, since the credit guarantee system was implementedCredit guarantee institutions play an significant role in solving the financing problem between the SMES and the banks. On one hand, credit guarantee institutions can improve the credit level of the SMES by its own credit and reduce the risk of banks the bank in lending loans to the SMES, which make it possible for SMES to get loans from the bank. On the other hand, the SMES get credit guarantee from credit guarantee institutions by providing collateral, which are usually not qualified in the banks’part, as counter guarantee measures so as to minimize the risk level of credit guarantee institutions. In general, compared to the bank, having more information of SMES and daring to undertake more risks are the core competitive advantages of credit guarantee institutions.Although SMEs credit guarantee institutions have begun to work, Chinese credit guarantee system should be improved greatly in many aspects, especially in the risk management. Credit guarantee institutions are commonly risk preference while they are awfully weak in risk management ability and consciousness, and the government also have pay little attention to this situation except launching the relevant regulation, that is," Interim Measures for the administration of financing of Guarantee Corporation ",in2010. Under this background, this article focus on how to manage the credit guarantee project risk efficiently from the perspective of credit guarantee institutions, including four parts in total. Firstly, distinguish the risk types and key points of special risk, and then set up the evaluation index system;Secondly, propose evaluate the risk level by VaR model before deciding whether to provide guarantee for SME or not, according to the final calculated VaR number; Thirdly, use the Multi-level Fuzzy Comprehensive Evaluation to build up a project risk early-warning model on the basis of the evaluation index system set up in the first part; Finally, study on the control and prevention of the credit guarantee project risk from internal and external aspects.