| SMEs have stimulated employment,but because of their small scale, low Reputation problems, SMEs face serious problems in financing. According to the survey, the total loans of commercial banks, SMEs accounted for only22.5%in the monetary policy tightening, the proportion of SME loans less than15%.In the financing structure of SMEs, the main source of financing for SMEs mainly in three areas:commercial bank loans, the source of financing, private lending. The commercial bank lending is the main way of financing for SMEs. However, due to information asymmetry between banks and SMEs, as well as the relationship between the non-cooperative game,it makes difficult for SMEs to obtain loans from banks. Limitations on SME financing for the long-term development of SMEs. Thus we try to find the most fundamental problems caused by the financing of SMEs, so as to provide some financing suggestions for SMEs to make them become better and better.This paper describes the status of SME financing, highlighting the SME financing reasons. Combined with related theories to explain the financing of SMEs, such as the MM theory, asymmetric information, pecking order theory organised a detailed analysis of the main factors of SME financing. On the basis of comprehensive analysis, this paper presents the main financing for our SMEs.The financing way is not unique,and the combination of financing methods constitute the financing structure. Through comparing the advantages and disadvantages of each method of financing, we finally give the financing structure of SMEs in China. With GEM and small plates latest data, using empirical data and comparative analysis to find the main factors affecting the structure of the financing of SMEs.There are many small and medium enterprises financing,.But commercial loans still plays a role mainstay. We can say in the choice of financing for SMEs are bank loans.Only if the bank loans can’t go through, they will turn to find other ways, but because of the shortcomings of China’s bank Reputation, as well as their own problems of SMEs, which make banks and SMEs are in a state of non-cooperative game, we construct a non-cooperative game model between banks and SMEs.We find that the bank bear a considerable risk in the loan to SMES, and this is the main reason why banks are reluctant to lend to small and medium enterprises, and why SMEs would be very difficult to obtain loans from banks radically. Then by taking advantage of the dynamic game model between banks and SMEs, I analyze the important role of Reputation in the SME financing SMEs,in order to obtain loans from banks,must maintain a steady stream of their own Reputation. Who mastered the SME Reputation information, also mastered the lifeblood of SME financing in today’s fast Internet banking.The reason why Private finance can continue for many years still enduring precisely is that private finance can be cheaper than bank,and easear than bank. This paper describes the financial and private financing of the Internet business model and its contribution to financing of SMEs, as a practical support for the empirical analysis.Reputation for SME financing plays a vital role, to solve the financing difficulties of SMEs totally.The establishment of SME Reputation system is essential.The last part of the article describes the importance of the Reputation system, the status of China’s Reputation system,and privide some views for the building of the Reputation system. |
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