Research On T Company Receivables Financing Based On Supply Chain Finance

The financing problem has always been a bottleneck restricting the steady development of small and medium-sized enterprises.Under the current mode of promoting supply chain resources integration and focusing on supply chain management,banks have adjusted the lending model of SMEs and produced so-called “supply chain finance”.Based on the real trade background,supply chain finance integrates bank credit into the upstream and downstream SMEs,and compensates the credit shortage of SMEs with the information superiority of large enterprises,improves the credit level of SMEs,and meets the financing needs of SMEs.At the same time,it optimizes the resource allocation in the supply chain and enhances the competitiveness of the entire supply chain.This paper firstly discusses the actual operation status of T Company,including the supply,production and sales models of T Company,the situation of major upstream suppliers,the situation of major downstream purchasers and the basic situation of logistics companies.Through the main financial indicators of the five years from 2012 to 2016,the current financial status of T company is analyzed,which has low cash ratio,weak capital chain,poor liquidity,short-term solvency,and account receivables.Long,but high quality;high financial costs,and then analyze T company's financing methods,including retained earnings,absorption of direct investment and additional investment by the original shareholders,bank loans,the existence of a single financing channel,high financing costs.After introducing the concept of supply chain finance,try to solve the financing problem with the supply chain financial financing model.The basic concepts of supply chain finance are introduced,and three financing modes based on financing needs at different stages: accounts receivable financing,prepayment financing,and inventory financing.Based on the fact that T company accounts receivable is long-term,but the quality is high,and the downstream purchaser core enterprise has a long relationship of cooperation and good relationship,choose the accounts receivable financing mode.There are three types of accounts receivable financing: pledge of accounts receivable,factoring of accounts receivable and securitization of accounts receivable.By comparing financing costs,financing risks,etc.,choose the accounts receivable pledge financing plan and implement it.The financial data before and after the implementation of the accounts receivable financing plan will be compared and analyzed to draw conclusions.The accounts receivable financing model not only helps to solve the single limitation of financing channels,but also helps to reduce financing costs,revitalize corporate funds,and create greater value.Finally,some suggestions for the problems existing in the program are proposed,including improving the overall management level of financing enterprises,establishing long-term cooperative relationships with commercial banks,selecting core enterprises as suppliers and buyers as much as possible,and maintaining friendly cooperative relations with them.