With regard to the specific provisions on the transfer of creditor's rights of small loans, it is clear which platforms obtain the creditor's rights of packaged assets through other cooperative institutions, and then publish the target collection on the platforms by transferring the creditor's rights of these assets. This business form involves various asset classes, such as consumer credit and mortgage loans. Although the underlying assets of some asset packages also meet the conditions of small dispersion, if the creditor's rights are transferred in the form of packaging, it is difficult to verify the matching of funds and assets during the transfer process, and the risk of opaque asset information is difficult to control, which also involves the issue of third-party credit enhancement. This model is contrary to the basic requirements of "information intermediary" of online lending institutions and "small dispersion" of online lending. The negative list of the Regulatory Measures prohibits the platform from "carrying out asset-like securitization business or realizing the transfer of creditor's rights in the form of packaged assets, securitized assets, trust assets and fund shares". It can be seen from this article that the negative list prohibits securitization business and financial business, that is, the transfer of creditor's rights with cross-border financing nature is prohibited. Negative list prohibits the transfer of creditor's rights of financial products such as securities, trusts and funds. First, because the sales behavior of such financial products already belongs to the essence of "issuing securities", it should be supervised by the CSRC and need to obtain the corresponding financial license; Second, products such as trusts and funds are restricted by qualified investors, while products such as trusts and funds are sold in split packages, which breaks the restrictions of qualified investors, making the risk transmission scope of products such as trusts and funds unlimited, and many investors who cannot bear the risks take risks beyond the limit. In this mode, professional lenders (usually the actual controller of the platform, platform finance or other individuals who are easily controlled by the platform) lend money to borrowers to obtain corresponding creditor's rights, and then package and mismatch the creditor's rights according to the amount and term, distribute them to investors in small amounts, and promise to buy back the creditor's rights at maturity. At this time, the professional lender is actually an "intermediary". After the intermediary lends money to the borrower and obtains the creditor's right, it transfers the creditor's right to the platform investor through the online lending platform, and the investor obtains the interest income brought by the creditor's right. There are a series of potential risks in this model, such as maturity mismatch, fund pool, validity of creditor's rights transfer, false creditor's rights, capital leverage and so on. The transfer of creditor's rights of small loans will be subject to certain legal constraints, and the parties need to take the initiative to explain the problems themselves when dealing with them, so that their rights and interests will have an important factual basis. However, such platforms are risky, and once the relevant parties cannot make reasonable plans, problems will arise.