What are the channels of financing small and medium-sized enterprises

A, small and medium-sized enterprise financing channels which

1, bank borrowing financing channels bank loans is one of the most formal financing methods. Because the market elimination rate of small and medium-sized enterprises is much higher than that of large and medium-sized enterprises, bank loans to small and medium-sized enterprises to bear greater risks. Therefore, the feasibility of choosing this way of lending is not very large. At this time, a good bank-enterprise relationship may provide some convenience. Secondly, due to the complicated procedures of bank loans, the approval time is too long, many small and medium-sized enterprises in order to seek development had to retreat from the private financing. 2, financial leasing channels financial leasing in solving the problem of other small and medium-sized enterprises in the means of financing does not have a special advantage, is a solution to the current difficulties in enterprise financing in China's feasible choice. Financial leasing is a set of credit, trade, leasing in one, with the leased object ownership and the right to use the separation of the new type of small and medium-sized enterprise financing channels. Lessor according to the lessee selected leasing equipment and supply manufacturers, in order to provide the lessee with capital financing for the purpose of purchasing the equipment, the lessee through the financial leasing contract with the lessor to pay rent as the price, and obtain the long-term right to use the equipment. For the lessee, the financial leasing method realizes the purpose of financing for small and medium-sized enterprises through the way of financing, thus alleviating the financial pressure of fixed investment. In addition, the liquidity problem can also be solved through sale and leaseback. The so-called sale and leaseback is that the enterprise will sell the existing fixed assets to the leasing company, and at the same time, the leasing company will continue to give the assets to the enterprise to use in the form of leaseback, so that the enterprise not only obtains the funds, but also does not affect the normal production and operation. Research shows that the private SMEs to carry out equipment leasing business is more likely to be successful. First, private small and medium-sized enterprises to introduce equipment before the market research and demonstration will generally be done more fully, the payment of rent is more guaranteed; secondly, private small and medium-sized enterprises default on the disposal of non-payment of leasing fees can be less subject to the interference of other non-economic factors, can be handled in full accordance with the market rules; thirdly, the commercial banks in the operating network, management system, professionals and information networks have the advantage of leasing business. Therefore, in the current economic situation, the commercial banks for private small and medium-sized enterprises to carry out the second-hand equipment leasing business, should be a practical, but also can give full play to the bank's information, talent advantages of small and medium-sized enterprise financing. 3, private financing channels with the formal financing compared to the private financing provider more understanding of the borrower's credit and income status, so as to overcome the asymmetric information brought about by the moral hazard and reverse selection. This kind of financing can maximize the cooperation between the government and the private sector. This way of financing can maximize the pooling of funds will be credited to the production and circulation area, to a certain extent, to alleviate the pressure of the bank credit fund shortage. At the same time its interest rate leverage sensitivity is high, the phenomenon of capital retention is small, simple procedures, improve the utilization rate of funds, is an effective way to raise funds. But the way of the interest rate is relatively high, once the enterprise has a major problem makes it impossible to pay, the problem will be very tricky. In addition, because of its "underground" nature, it can enable SMEs to obtain financing at the same time to maintain the privacy of their operations. Therefore, private financing can become an important channel of external financing for SMEs. However, the private fund-raising has certain negativity, first of all, due to the law is not clear, the system is not perfect, as well as the understanding of the inconsistency, resulting in some places of the private lending in the illegal state or let go out of control state, which is the Wenzhou appeared in a number of cases of illegal fund-raising. So for the private financing activities, we should not simply prohibit, but should be regulated, will be incorporated into the formal financial system. 4, financial leasing channels financial leasing is a medium and long-term fixed asset financing, time is generally 3 to 5 years, and because of the financial leasing allows the lessee to return the rent in advance of the convenience of the financial leasing, so financial leasing and short-term advantages of financing. In addition, financial leasing also has the advantages of high efficiency, low risk, equipment, services and financing package solution. Most of the small and medium-sized enterprises in China are backward in technology and equipment, and no own accumulation and difficult to obtain loans from the bank to update the development of financial leasing industry, the enterprise can be in the case of or unwilling to use operating funds, purchase or update equipment to improve product competitiveness. At present, the financial leverage of financial leasing is basically not played, China's leasing company's asset size is at most tens of billions of dollars, so there is a lot of room for development. For this way we can do is to solve some policy constraints: one should be in the effective supervision of the premise, to liberalize the access of financial zu leasing company (due to financial leasing company belongs to the non-bank financial institutions, the current realization of a strict access system, subject to the supervision of the CBRC, it is difficult to approve); the second is to appropriately reduce the threshold of the capital (the current provisions of the new domestic leasing enterprises to achieve a minimum registered capital of 5. "Golden Shell" loan channel "Golden Shell" is an insurance product for unsecured and unguaranteed loans. Ningbo's urban and rural micro-guarantee insurance loans for the first time in the country, this government, banks, insurance cooperation to solve the small and medium-sized enterprises, farmers and urban and rural entrepreneurs lack of collateral guarantee financing model has been promoted in the province. The "Golden Shell" has strongly supported small businesses and urban and rural entrepreneurs in production and entrepreneurial development, and the "Golden Shell" business is only one of the many initiatives launched by Ningbo to ease the financing difficulties of small and medium-sized enterprises. This kind of financing support object including application for production and operation of agricultural planting and breeding households, start-up small enterprises and urban and rural entrepreneurs. 6, pawn SMEs financing pawn may be one of the oldest line of work, and in the eyes of many people have a dishonorable history. However, in recent years, pawnbrokers have regained the market with their unique advantages in SME financing. There are more than 1,000 pawnbrokers in China, and some new pawnbrokers are in the process of approval. Pawnbroking is a financing channel for small and medium-sized enterprises (SMEs) to obtain temporary loans in the form of transfer of ownership of physical goods as collateral. For many small and medium-sized enterprises there is a commodity stagnation backlog, pawnbrokers can help small and medium-sized enterprises to use idle assets to raise to liquidity, so as to revitalize the stock of enterprise assets, and promote the flow of commodities to play a positive role. Compared with bank loans, in addition to loan interest, pawn loans also need to pay higher comprehensive fees, including custodial fees, insurance premiums, the cost of pawn transactions expenses, etc., so pawn loans are more expensive, in addition to the scale of pawn loans is also relatively small, but pawn loans have the advantages that bank loans can not be compared. First of all, it is convenient and fast, and can quickly and timely solve the financial needs of the pawnbroker; secondly, the operating products are flexible and mobile; thirdly, the period is short and the turnover is fast; fourthly, since it is a pledge and mortgage of physical objects, it does not involve the credit problem. These points are very suitable for small and medium-sized enterprise capital demand characteristics. 7, inventory financing channels inventory financing specifically is to provide a mechanism through which the lender can receive more information related to warehousing inventory, and warehousing inventory for more advanced control. Among other things, the warehoused inventory secures the financing arrangement and provides the lender with a guarantee that collateral will be available in the event of a default by the borrower. Currently, there are three main types of inventory pledge financing that are more commonly used internationally: warehousing financing, trust receipt financing and collateralized bill of lading inventory financing. The amount of funds financed in this way is flexible. Small and medium-sized enterprises (SMEs) use their inventories of raw materials, work-in-process and finished goods as collateral to finance funds from financial institutions. However, considering the credit risk of banks and other financial institutions, the amount of funds obtained through inventory guarantees is relatively small, although this can be used to alleviate the short-term lack of funds.8. Accounts Receivable Financing Channels The financing of accounts receivable is a financing method with distinctive features. It is mainly that SMEs conditionally transfer their accounts receivable to specialized financing institutions, which provide financial services such as funding, debt recovery, sales sub-account management, credit sales control as well as bad debt guarantee, so that the enterprises can obtain the required funds for working capital. This is a more elastic source of financing flexibility. When a business needs more money due to increased sales, its invoice amount will increase day by day, so that the amount of money obtained on this basis grows day by day. Second, accounts receivable provide security for borrowing that may otherwise be extremely difficult for a business to obtain. Finally, when accounts receivable are brokered or sold, businesses can obtain credit sector services that would otherwise be unavailable or costly to obtain. However, the cost of this type of financing is too high, usually 2 or 3 per cent above the base rate. In addition, a large number of invoices in small denominations may make this method seem cumbersome. In some western industrialized countries, accounts receivable financing has seen a significant growth trend.9. Venture capital channels Venture capital originated in the Silicon Valley of the United States in the 1940s. It is in the absence of any property as collateral, with funds and company owners to hold the company's equity in exchange. Venture capital has experienced a long period of introduction and growth in China, and it should be said that it is a more mature financing channel for small and medium-sized enterprises (SMEs) in terms of policy system and operation. Venture capital is most suitable for small and medium-sized high-tech enterprises with products or projects of high technological content, broad development space and market prospects, such as those in the telecommunications, semiconductor, bioengineering and other industries. It is a better channel for enterprises at the beginning of their business, or at the stage of product research and development and market entry when they are in urgent need of capital. By utilizing venture capital, small and medium-sized enterprises can be launched as soon as possible. At present, venture capital in China has been the rapid development of venture capital institutions have more than 200, of which the largest venture capital fund is funded by the state treasury, the Ministry of Science and Technology management of 1 billion yuan of science and technology venture capital fund. 10, the establishment of a guarantee company channel SMEs to finance a bottleneck is the guarantee is difficult, the government does not necessarily have to participate in large-scale SMEs in the form of investment or borrowing, but rather to guide the guarantee. Forms. The establishment of guarantee companies is one of the most direct initiatives. It is reported that the high marketing costs of banks, small enterprises to the bank direct application for loan acceptance is more difficult, which results in small enterprises have financing needs will often be to the guarantee agency and other financing institutions for help, the guarantee agency to choose the customer's cost is relatively low, from which the selection of high-quality projects recommended to the cooperative bank, to improve the success rate of financing, it will reduce the bank's marketing costs.11, the credit guarantee lending channels credit guarantee is a kind of intermediary service between banks and enterprises. Due to the intervention of the guarantee, the risk of bank loans is dispersed and dissolved, the security of bank assets is guaranteed, and the loan channels of enterprises become smooth. At present, in 31 provinces, municipalities and autonomous regions, more than 100 cities have established small and medium-sized enterprise credit guarantee institutions, most of these institutions implement membership management form, belonging to the public **** service, industry self-regulation, their own non-profit organizations. When member enterprises borrow from banks, they can be guaranteed by SME guarantee organizations. In addition, SMEs can also seek guarantee services from guarantee companies specializing in intermediary services. Under the strong support of national policies and relevant departments, credit guarantee loans will become another effective SME financing channel for SMEs. Legal Basis "The People's Bank of China Law" Article 25 The People's Bank of China can act on behalf of the State Council's financial department to the financial institutions to organize the issuance and payment of treasury bonds and other government bonds. Article 3 of the Law of the People's Republic of China on Commercial Banks of the People's Republic of China*** and the People's Republic of China, commercial banks may operate some or all of the following businesses: (1) to absorb public deposits; (2) to grant short-, medium- and long-term loans; (3) to handle domestic and foreign settlements; (4) to handle the acceptance and discounting of bills; (5) to issue financial bonds; (6) to act as an agent for the issuance, redemption and underwriting of government bonds; (7) to buy and sell government bonds, financial bonds; (viii) engaging in interbank lending; (ix) trading, agency trading of foreign exchange; (x) engaging in bank card business; (xi) providing letter of credit services and guarantees; (xii) acting as an agent for the collection and payment of payments and agency insurance business; (xiii) providing safe deposit box services; (xiv) other businesses approved by the State Council's banking supervision and regulatory authorities. The scope of business shall be stipulated in the charter of the commercial bank and reported to the banking regulatory authority of the State Council for approval. Commercial banks may, with the approval of the People's Bank of China, operate foreign exchange settlement and sale of foreign exchange business.

Second, now the small loan company to finance, what channels?

Now there are some asset management companies have begun to do, such as the Guangdong Pacific Asset Management (Group) there are several modes of financing

three, now the small loan company to finance, what are the channels?

Private lending, pulling a name, looking for people to invest. The company has a large number of such companies in Guangzhou, the pit is full of old people's money. The company's name is "The Harmony of the World", and it's not a good idea to have a company like that.

Four, what is BO financing?

It should be BOT financing method

BOT is the abbreviation of English Build-Operate-Transfer, that is, Build-Operate-Transfer method, is the government will be an infrastructure project concession awarded to the contractor (generally international consortium). The contractor is responsible for the design, financing, construction and operation of the project during the concession period, and recovers costs, repays debts and earns profits, and transfers ownership of the project to the government at the end of the concession period. In essence, BOT financing is a special mode of operation in which the government and the contractor cooperate to operate an infrastructure project.

BOT financing method in China is called "concession financing method", which means that the state or local government departments through the concession agreement, granted to the contracting party's foreign-invested enterprises (including Sino-foreign equity joint venture, Sino-foreign cooperation, wholly foreign-owned) to undertake the financing, construction, operation and maintenance of the public **** infrastructure (basic industry) projects; in the agreement stipulated in the concession period, the project company The project company owns the facilities it has invested in and constructed, and is permitted to charge the users of the facilities appropriate fees, thereby recovering the costs of investment, operation and maintenance of the project and obtaining a reasonable return on its investment; upon expiration of the concession period, the project company transfers the facilities to the contracting party's governmental authorities at no cost to the contracting party.