Credit Risk Evaluation For The Small And Medium-sized Enterprises Based On Supply Chain Finance

SMEs have been an important part in China’s socialist market economy, which is a major component of China’s real economy, but financing difficulty has troubled SMEs all the time. Although commercial banks have carried out the "supply chain finance" in this business to help SMEs to solve financing difficulties, lack of an effective approach to measure credit risk of SMEs under supply chain finance, making the bank remains "cautious loan" psychology. Based on this, this paper studies on the credit risk measurement of supply chain finance for SMEs, wishing provide commercial bank credit risk measurement methods to help SMEs solve financing difficulties.At present, credit risk measurement methods for corporates are mainly divided into three categories:the traditional method, the credit scoring method and the modern analytical method. The modern analysis method is suitable for large listed companies. And the credit scoring method requires a large amount of data as research data, while SMEs’ data is relatively opaque and difficult to collect, which means this method does not apply to credit risk measurement of SMEs. In view of this, this paper uses a traditional credit risk measurement methods, combining the expert method and rating method effectively to measure credit risk under supply chain financeFirst of all, this paper from the perspective of supply chain to explore the credit risk factors of small and medium-sized enterprises under the supply chain finance. By comparing the traditional financing mode and supply chain finance financing mode, this paper finds out that under the supply chain finance, it needs an extra fator. It should be considering the influence of the core enterprise to small and medium-sized enterprise credit risk, the focus of which is the relationship between core enterprises and small and medium-sized enterprises. The paper puts forward Four Key Theory and builds the model to make the relationship quantitative.Then, the paper embarks from the influencing factors to extract key indicators of credit risk under the supply chain finance condition. For qualitative indicators (mainly non financial index), this paper uses theoretical research methods to determine; for quantitative indicators (mainly financial index), this paper adopts the method of the empirical research, collecting the financial data of92small businesses, using T-test, the Mann-Whitney U test and entropy weight method to extract. After extracting the qualitative and quantitative indexes, this paper constructs the small and medium-sized enterprise credit risk measurement model under supply chain finance.Then based on the investigation, this paper determines the influence of indicators of the small and medium-sized enterprises. This research mainly adopts questionnaire method. According to the questionnaire results, this paper determines the weight of each index. Considering rigorousness, this paper constructs the structural equation model to consider fitting degree of index model, index of the desirability and influence degree. The inspection result shows that it is feasible. Based on this, this paper puts forward the credit assessment of small and medium-sized enterprise under supply chain finance. And referring to a commercial bank, the paper gives the scoring criteria table and credit rating classification table, forming a complete credit risk assessment of small and medium-sized enterprise under supply chain financeAt last, this paper uses credit risk measurement method to measure a brewing company, finding out that the method is feasible, and the credit rating of the enterprise under the supply chain finance raises one level, from BB to BBB. Due to the increase of credit rating, banks are more willing to provide loans to the enterprise and the enterprise can also solve the "financing difficulties" problem.