Research On The SMEs Group Financing Mode Based On Credit Guarantee

Small and medium-sized enterprises are an important force to promote the growth of national economy and have created more than 50% of the products and services in our country, but the financial strain and narrow channels of financing has restricted the sustainable development of SMEs. In our country’s commercial banks-main financial system, the problem of financing of SMEs can be converted into the problem of difficulty of access to bank loans in the very great degree. In order to break the Macmillan Gap, the innovative financing modes are emerging constantly, and the group financing from Bangladesh has raised an upsurge at home and abroad. With the development of group financing in practice, however, some defects and institutional predicament have gradually appeared, the differences between repayment rates in time and space also show that this financing model needs further perfected. In this thesis, research status and financing practices at home and abroad were analyzed and summarized, and some improvement views of group financing model are put forward.After 2010, the credit system construction of SMEs in our country has stepped into a normal and sustainable development track, the credit qualification of SMEs has gradually became valuable assets of the enterprise. This thesis analyzes the promoting role of credit guarantee system for SMEs, believing that the credit guarantee make the main groups involved in the group financing more complete, and establish a more reasonable risk-sharing mechanism, which conducive to control the risk level of commercial banks and fiance companies at a reasonable range and reduce the risk of default.This thesis argues that the mainly problem which impeding the access of SMEs to bank credit lies in the dilemma facing the banks, which bank demand for sound operation and SME is high risk. But financing path based on credit guarantee groups can not only enhance the credit of enterprises and also reduce bank risk level. Then the efficiency of group financing can be raised easily. Based on the study of traditional game model of repayment on the basis of group financing, thought adding a third party guarantee agencies, which provide repayment guarantees for enterprises involved in the financing process, we can combine the group financing and credit guarantee. After that, this thesis evaluate commercial banks credit guarantee effectiveness from the microscopic view of financing enterprises, macro-perspective and finance groups. In order to maximize the prevention and resolution of a single negative role and influence of the credit game, this thesis use main repetitive game theory as a tool for analysis of rational choice of credit game path.In the process of research in this thesis, the following three important conclusions are drawn. First of all, it proved that the group financing mode based on credit guarantee made is better than the original group financing model no matter from aspect of repayment rate or scope of bank lending. Secondly, the financial support is Indispensable during the entire duration of SMEs, from this perspective, default of enterprises in the process of financing will bring a very big discounted future loss, and the repayment rates under the condition of repeated game will increase. Thirdly, the credit guarantee can play an part in repayment rates, mainly depends on the guarantee agencies to take strong punishment to the contract breakers.