Research On The Design Of Asset Securitization Financing Scheme Of A Small Loan Company

In recent years,China’s government has been strengthening its policy support for inclusive finance,but there are problems of insufficient supply and unbalanced structure of credit support from traditional banks and financial institutions for micro,small and medium-sized enterprises and farmers,and the problems of difficult and expensive financing are still prominent.As an important part of China’s financial market,microcredit companies focus on meeting the credit and financing needs of the "three rural areas" and small and micro enterprises,effectively making up for the shortcomings of the traditional financial system for small and micro and "three rural areas" and other groups of financial services.However,microcredit companies are influenced by the business model of "lending but not depositing",and can only use internal funds for lending,which is limited by the efficiency of the use of funds,and microcredit companies generally have the problem of restricted financing and insufficient lending funds.In recent years,the rapid development of asset securitization business in China has optimized the allocation of enterprise resources,driven the liquidity of enterprise assets,and become an effective way for microcredit companies to get rid of financing difficulties.The paper takes the current development of China’s microfinance industry as the background,and chooses A small loan company as the research object,in order to explore the problem of capital shortage of A small loan company through the development of asset securitisation business.Firstly,this paper summarises the concept of small loan companies and the guiding theories on the basis of the research on the development,financing and asset securitisation of small loan companies by scholars at home and abroad.Then,in the light of the actual situation of A small loan company,the organisational structure and business status of the company are sorted out,the current financing situation of the company is introduced and analysed in terms of the structure,channels,scale and maturity of financing,and the financing methods that can be adopted by A small loan company under the regulatory policy are further analysed and compared,while internal factors such as underlying assets,risk control,business team and shareholders’ strength and external factors such as policies and regulations,capital marke and intermediaries.Finally,based on the actual situation of A small loan company,the asset securitisation proposal of A small loan company was formulated with emphasis on four aspects:underlying assets,transaction structure,transaction model and credit enhancement measures.The potential credit,liquidity,policy and interest rate risks and preventive measures of the financing proposal were analysed,and the effective implementation of the proposal was ensured in terms of policy basis,risk control system,talent guarantee,technological innovation and corporate culture.The study shows that the asset securitization business model is necessary and feasible for A small loan company to transform microcredit assets with poor liquidity but stable cash inflows into marketable securities to achieve financing through packaging and restructuring,etc.On the one hand,by carrying out the asset securitization business,A small loan company can effectively alleviate the shortage of corporate lending funds,provide financial security for the company to expand its business,enable the company to obtain higher profit margins,and bring new opportunities for the company’s development.On the other hand,the concrete implementation of the asset securitization business of A small loan company explores new financing channels for small and medium-sized microcredit companies and provides more practical guidance for the study of expanding financing channels in the microcredit industry.