Research On Asset Securitization Innovation To Solve The Financing Dilemma Of Small Loan Companies

From the small loan company,it is defined as the "new financial organization",the loan is mainly funded by its own funds,the policy does not allow highly leveraged and the public to absorb deposits,so whether there is a stable and sufficient capital flow is the impact Key factors for sustainable development of small loan companies.The use of asset securitization of this tool can be reasonable and effective to avoid the existing policy restrictions,but also can optimize the financial structure,reduce financing costs,is conducive to innovation and crack down on China’s small loan companies face financing difficulties.Therefore,it is of great practical significance to study the financing of asset securitization.After analyzing the relevant basic theory and domestic and foreign research literature,this paper analyzes the current situation of the financing of small loan companies and the reasons for their financing difficulties.Based on the analysis of the financing situation and internal risk control system of Hanhua small loan companies,SWOT tools The advantages and disadvantages of the internal and external environment of the company,pointed out the company strategy,coupled with DuPont financial system analysis,analysis of the Hanhua small loan asset securitization of the necessity.At the same time,using the method of comparative argumentation,this paper analyzes the feasibility of using Hanhua small loan to use asset securitization as the tool to finance and innovate the financing channel.On this basis,this paper analyzes the financial pool and basic assets,transaction structure,credit enhancement,income and risk of Hanhua small loan asset securitization product,and expounds the application conditions and application situation of this financing instrument,In this process we can sum up the experience and the problems still exist,and make recommendations on the issue.A case study of Hanhua small loans found that:(1)the landing of relevant systems and policies has accelerated the speed of asset securitization of microfinance companies;(2)regional regulators are also actively support the widening of financing channels;(3)into the pool asset rating is fine,to a certain extent reduce the risk;(4)Hanhua small loan financial structure optimization,making Hanhua small loans for asset securitization financing More feasible.This paper puts forward some suggestions on how to improve the financing of asset securitization of microfinance companies in China: Under the current policy and system requirements,China’s small loan companies want to innovate the financing way,first of all,to improve their own strength,have a good financial structure;Followed by the need to improve the relevant legal system and the issuance of pricing mechanism;the final establishment of high-grade credit enhancement and credit rating agencies,improve the relevant supporting measures,making asset securitization products to crack the small loan companies face financing difficulties.