Twelve effective financing methods for small and medium-sized enterprises

At present, there are 12 financing methods for small and medium-sized enterprises implemented and innovated in various places:

1. Comprehensive credit granting:

That is, banks grant a certain amount of credit line to some enterprises with good operating conditions and reliable credit for a certain period of time, which can be recycled by enterprises within the validity period and credit line. The comprehensive credit line shall be declared by the enterprise at one time and approved by the bank at one time. Enterprises can use the money in installments according to their own operating conditions, and it is very convenient for enterprises to borrow money and save financing costs. Banks provide loans in this way, generally for enterprises with industrial and commercial registration, qualified annual inspection, good management, reliable reputation and long-term cooperative relations with banks.

Second, credit guarantee loans:

At present, credit guarantee institutions for SMEs have been established in more than 1 cities in 31 provinces and municipalities across the country. Most of these institutions implement the form of membership management, which belongs to public service, industry self-discipline and self-non-profit organizations. The source of the guarantee fund is generally composed of local government financial allocation, member funds voluntarily paid by members, funds raised by the society and funds from commercial banks. When a member enterprise borrows money from a bank, it can be guaranteed by a small and medium-sized enterprise guarantee institution. In addition, SMEs can also seek guarantee services from guarantee companies that specialize in intermediary services. When the enterprise cannot provide the guarantee measures acceptable to the bank, such as mortgage, pledge or third-party credit guarantor, the guarantee company can solve these problems. Because compared with banks, guarantee companies have more flexible requirements for collateral. Of course, in order to protect their own interests, guarantee companies often require enterprises to provide counter-guarantee measures, and sometimes guarantee companies will send personnel to enterprises to monitor the flow of funds.

3. Buyer's loan:

If an enterprise's products have a reliable market, but its own capital is insufficient, its financial management foundation is poor, and it is difficult to provide collateral or seek a third-party guarantee, the bank can provide loan support to the buyer of its products according to the sales contract. The seller can charge a certain proportion of advance payment to the buyer to solve the financial difficulties in the production process. Or the buyer issues a bank acceptance bill, and the seller takes the bill to the bank for discount.

Fourth, cooperative loans in different places:

Some small and medium-sized enterprises sell their products widely, or provide supporting parts for some large enterprises, or are loose subsidiaries of enterprise groups. In the process of producing cooperative products, it is necessary to supplement production funds. You can seek a lead bank to provide loans to the group company in a unified way, and then the group company will provide the necessary funds to the cooperative enterprises, and the local banks will cooperate with the contract supervision. It can also be combined by the lead bank and the bank of the cooperative enterprise in different places to provide loans separately.

V. Project development loans:

Some high-tech SMEs can apply for project development loans from banks if they have significant scientific and technological achievements transformation projects and the initial investment amount is relatively large, which is unbearable for their own capital. Commercial banks will give active credit support to small and medium-sized enterprises with high-tech products or patent projects with mature technology and good market prospects, as well as small and medium-sized enterprises that use high-tech achievements for technological transformation, so as to promote enterprises to accelerate the transformation of scientific and technological achievements. For high-tech small and medium-sized enterprises that have established stable project development relations with universities and scientific research institutions or have their own research departments, banks can provide project development loans in addition to working capital loans.

VI. Loans for earning foreign exchange through export:

For enterprises producing export products, banks can provide packaged loans according to export contracts or credit visas provided by importers. Enterprises with cash accounts can provide foreign exchange mortgage loans. Enterprises with foreign exchange income sources can obtain RMB loans with foreign exchange settlement certificates. Enterprises with good export prospects can also borrow a certain amount of technical transformation loans.

VII. Guaranteed loans by natural persons:

In August p>22, China Industrial and Commercial Bank took the lead in launching the business of guaranteed loans by natural persons. In the future, domestic institutions of Industrial and Commercial Bank of China can provide property guarantees and assume compensation responsibilities for small and medium-sized enterprises when they handle credit business within three years. Natural person guarantee can take three ways: mortgage, pledge of rights and mortgage plus guarantee. Property that can be mortgaged includes personal property, land use right and means of transportation. Personal property that can be pledged includes savings deposit certificates, voucher-type government bonds and registered financial bonds. Mortgage plus guarantee refers to the joint and several liability guarantee of the mortgagor on the basis of property mortgage. If the borrower fails to repay all the loan principal and interest on schedule or other breach of contract occurs, the bank will require the guarantor to fulfill the guarantee obligation.

VIII. Personal entrusted loans:

Commercial banks such as China Construction Bank, Minsheng Bank and CITIC Industrial Bank have successively launched a new type of financing business-personal entrusted loans. That is, a loan that is entrusted by an individual to provide funds, and is issued, supervised, used and assisted by a commercial bank according to the loan object, purpose, amount, term and interest rate determined by the client. The basic procedures for handling personal entrusted loans are as follows: 1. The client applies to the bank for loan. 2. The bank selects and matches according to the conditions and requirements of both parties, and recommends them to the entrusting party and the borrower respectively. 3. The principal and the borrower meet directly to negotiate and make a decision on specific matters and details such as loan amount, interest rate, loan term and repayment method. 4. After the borrower and lender negotiate the requirements, they go to the bank together and sign the entrustment agreement with the bank respectively. 5. The bank investigates the borrower's credit status and repayment ability and issues an investigation report, and then the borrower and the borrower sign a loan contract and issue the loan after approval by the bank.

IX. Intangible assets secured loan:

According to the relevant provisions of the Security Law of the People's Republic of China, intangible assets such as trademark exclusive right, patent right and property right in copyright that can be transferred according to law can be used as loan collateral.

X. Bill discount financing:

Bill discount financing means that the bill holder transfers the commercial bill to the bank and obtains the funds after deducting the discount interest. In China, commercial paper mainly refers to bank acceptance bills and commercial acceptance bills. One of the advantages of this financing method is that banks do not lend money according to the asset size of enterprises, but according to market conditions (sales contracts). When an enterprise receives a bill, it usually takes as little as a few tens of days to as many as 3 days until the bill is cashed, and the funds are idle during this period. If enterprises can make full use of bill discount financing, it is far simpler than applying for loans, and the financing cost is very low. Discounting bills can only be done by taking the corresponding bills to the bank for relevant procedures, which can generally be completed within three business days. For enterprises, this is "using tomorrow's money to earn the money the day after tomorrow", which is worthy of being widely and actively used by small and medium-sized enterprises.

Xi. Financial leasing:

Financial leasing has become the second largest financing method for equipment investment in developed countries, after bank credit. Financial leasing is a new financing method which integrates credit, trade and leasing, and is characterized by the separation of ownership and use right of leased objects. After the equipment user takes a fancy to a certain equipment, he can entrust a financial leasing company to purchase it, and then deliver the equipment to the enterprise in the form of leasing. When the enterprise pays off the rent within the contract period, it will eventually own the ownership of the equipment. Through financial leasing, enterprises can obtain the required advanced technology and equipment with a small amount of funds, and they can pay back the rent while producing. For enterprises lacking funds, financial leasing is a good way to accelerate investment and expand production. For some enterprises with overstocked products, financial leasing is a good means to promote sales and expand the market.

XII. Pawn financing:

Pawn is a kind of financing method to obtain temporary loans in the form of transfer of ownership in kind. Compared with bank loans, pawn loans have high cost and small loan scale, but pawn also has incomparable advantages over bank loans. First of all, compared with the bank's almost harsh requirements for the borrower's credit conditions, the pawnshop has almost zero credit requirements for customers, and the pawnshop only pays attention to whether the pawned items are genuine or not. Moreover, general commercial banks only do real estate mortgage, while pawnshops can pledge both movable property and real estate.

Secondly, the starting point for pawning items in pawn shops is low, and items of 1, yuan and 1 yuan can be pawned. Contrary to banks, pawn shops pay more attention to serving individual customers and small and medium-sized enterprises. Third, compared with the complicated procedures and long approval period of bank loans, pawn loan procedures are very simple, and most of them are desirable. Even real estate mortgage is much more convenient than banks. Fourth, when a customer borrows money from a bank, the purpose of the loan cannot exceed the scope specified by the bank. Pawnshops, on the other hand, don't ask about the purpose of loans, and the money is very free to use. Repeatedly, the utilization rate of funds has been greatly improved. .

first, the financing status and problems of small and medium-sized enterprises

SMEs lack financial support, and financing is quite difficult, especially for non-state-owned SMEs. The shortage of funds and the inability to give full play to production capacity have become one of the main problems restricting the development of small and medium-sized enterprises. There are many reasons for this situation: financial institutions are reluctant to lend, afraid of lending, and refuse to lend; The current laws, regulations and policy guidance of listing financing, bond issuance and trust financing are incomplete (the entry threshold of the newly launched SME board is still high, and most SMEs are still difficult to enter); There are few venture capital institutions and small scale; The regional capital market is not perfect, the financial support ability is insufficient, the investment channels are too few, and the credit guarantee has just started, which makes enterprises lack an effective fund replenishment mechanism. At the same time, the state has strengthened macro-control, tightened monetary policy, commercial banks have strengthened financial risk prevention, and the interest rate control in the RMB market has not been fully liberalized, which has also seriously affected the financing problems of SMEs. Therefore, the long-standing problem of "financing difficulty" has not been fundamentally solved. According to statistics, more than 9% of the funds of small and medium-sized enterprises come from internal fund-raising, family and friends, and various abnormal channels (such as private high-interest loans, pooling, etc.), which not only increase the operating costs of enterprises, but also disrupt the normal financial order.

second, the financing strategy of small and medium-sized enterprises under the new form

(1) establishing trade associations or alliances of small and medium-sized enterprises

This kind of association or alliance should be mutual-aid, which can not only provide information needed for the small and medium-sized enterprises in the association or alliance, but also provide places and conditions for the small and medium-sized enterprises to exchange talents, technology, management and funds with each other. Small and medium-sized enterprises in associations or alliances should strengthen mutual assistance and cooperation. Enterprises with abundant funds can provide financial support for other enterprises, while enterprises with advanced technology can provide technical guidance for other enterprises and provide loan guarantees to each other. In this way, the financing difficulties of some small and medium-sized enterprises can be solved within the association or alliance. Moreover, this kind of association or alliance laid the foundation for its future development as a group company or an associated company.

(II) Creating new direct financing methods

Direct financing has the advantages of obtaining external ownership financing without repayment, improving the asset-liability structure of enterprises and effectively allocating social resources, which is an important way to solve the financing difficulties of small and medium-sized enterprises and the single financing channel. The first is the shareholding system reform of small and medium-sized enterprises. Joint-stock cooperative system absorbs the advantages of joint-stock system and cooperative system, which is more suitable for the specific situation of small and medium-sized enterprises at present. It plays an important role in attracting social idle funds by clearing property and joint venture, and then issuing shares and expanding shares after confirming equity. The second is to develop venture capital funds. Venture capital fund is a kind of investment fund that invests in an industry by means of long-term equity investment, especially in emerging industries at the start-up stage, with the goal of pursuing long-term benefits from enterprise growth. The most direct beneficiaries of such funds are emerging small and medium-sized enterprises engaged in high technology, and one of its functions is to gather thousands of scattered small and medium-sized venture capital funds to form a certain scale of venture capital. The establishment of venture capital fund is helpful to accelerate the industrialization of high-tech and the direct investment mode with the characteristics of regional small and medium-sized scientific and technological enterprises. The third is to develop a multi-level capital market.

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(III) Expanding indirect financing channels

According to the characteristics of small and medium-sized enterprises' production, operation and capital movement, flexible and diversified settlement tools are introduced to smooth the remittance channels and provide convenient and fast settlement tools for small and medium-sized enterprises. We should increase the collection and acceptance, bill acceptance and discount business for small and medium-sized enterprises as soon as possible. In addition, we should also take advantage of the numerous outlets of financial institutions and the large amount of information to provide small and medium-sized enterprises with market opportunities, economic policies, management and investment decision-making consultation and other information services. In addition, we can also expand the financing channels of small and medium-sized enterprises in other aspects, expand their sources of funds, give positive and lasting support and inclination in policies, and gradually realize their real "national treatment" with large and medium-sized enterprises in financing.

(4) Building a perfect legal guarantee system

The existing legal provisions for small and medium-sized enterprises are mainly the Regulations on Urban Collective Ownership Enterprises and the Law on Township Enterprises. These two laws and regulations are classified according to the nature of ownership and different organizational forms, lacking unified legislative standards and behavioral norms. In terms of financial credit, there is a lack of supporting and protecting laws and regulations specifically for small and medium-sized enterprises. Drawing lessons from the experience of developed countries and regions, providing all aspects of policy and financial support for the development of small and medium-sized enterprises is inseparable from legislative support. Legal guarantee can be considered from the following levels: laws to protect small and medium-sized enterprises, such as the Small Enterprise Law of the United States and the Small and Medium-sized Enterprise Law of Japan; Professional, regional or industrial laws, such as the Small Enterprise Technology Innovation and Development Law of the United States and the Small and Medium Enterprise Financial Pool Law of Japan. Anti-monopoly laws, such as Sherman Anti-trust Law of the United States and Anti-unfair Competition Law of Germany. Accelerate the legislation on the credit system of small and medium-sized enterprises. Relevant departments should be designated as soon as possible to organize the formulation of laws or regulations on SME loans. First of all, it is necessary to divide the classification standards of small and medium-sized enterprises and clarify the definition methods of small and medium-sized enterprises. Secondly, it is necessary to clarify the roles and functions of various financial institutions in the SME credit system, and formulate specific management methods and incentives for SME loans. Thirdly, it is necessary to implement the financial channels, executing agencies and management measures for the government to support loans to small and medium-sized enterprises.

(5) Establish and improve the credit guarantee system for financing small and medium-sized enterprises

The government should guide intermediary agencies to establish enterprise economic files and credit files of legal representatives through scientific evaluation and demonstration, and establish and improve the enterprise credit system that meets the requirements of market economy. Revise the evaluation standard of credit rating of state-owned commercial banks. At present, the credit rating of state-owned commercial banks in China is not conducive to small and medium-sized enterprises, which contains psychological discrimination against them. Practice has proved that comprehensive enterprise groups that blindly expand their business scale can not adapt to market changes and produce more stable benefits and stronger credit than specialized small and medium-sized enterprises. Therefore, state-owned commercial banks should adjust their strategies in the evaluation of enterprise credit rating in time, change their emphasis on the scale of enterprise operation to the efficiency of enterprise operation, and cancel some discriminatory evaluation items. According to the actual situation of our country and the experience of other countries