Research On Small And Medium-sized Enterprises Financing Based On Supply Chain Financing Model

The small and medium enterprises develop rapidly in China. They play pivotal role increating the wealth of the society, providing jobs and impelling advance in technology. Butfinancing difficulty is always the problem hindering the rapid development of the small andmedium enterprises. Aiming at the difficult financing situation, the government and thesociety have adopted a variety of macro measures, such as developing the financial guaranteesystem, establishing small and medium-sized banks specialized services for SME, and settingup diversified financial service system for small and medium-sized enterprises. Althoughthese measures to some extent, solve the financing problem of mall and medium-sizedenterprises, besides giving measures from macro, also proposing solutions from micro level tosolve the financing difficulties fundamentally. This paper puts forward the concept of supplychain from the point of the day-to-day transactions standing on the micro-perspective, andintroduces the innovative idea of supply chain financing. In the supply chain financing, thesmall and medium enterprises overcome the problems of information asymmetry from bankloans, the high cost of financing, high risk and the lack of mortgage. Considering the smalland medium-sized enterprises in the whole supply chain, it uses the supply chain financingcharacteristics of integrity and stability to control the risk, maximizing the financial benefits.Currently the practice of supply chain financing has initially formed, but the theoreticalresearch is still in the primary stage and lack the systematic research on supply chainfinancing. This paper bases on the existing literature result, analyzes the model of supplychain financing comprehensively and systematically and proposes the new solution for thefinancing of small and medium-sized enterprises.This paper uses the method of normative study and case study. Firstly, it describes thesupply chain financing concept, characteristics and theoretical basis. Secondly, it analyzes thefinancing problems and the reasons of the small and medium-sized enterprises, consideringthat should be from the small and medium-sized enterprise itself to solve the financingproblem, and puts forward to using a new supply chain financing model. By comparing themodel of supply chain financing and traditional financing way, it considers that supply chain financing has obvious advantages in credit mode, financing object, guarantee way and creditrisk valuation. It also states the operation mechanism of the three basic financing model indetail and proposes specific solution combined with cases. Finally, in view of supply chainfinancing, the paper puts forward from macroscopic strategies in three aspects of government,bank, small and medium-sized enterprises.