The Small And Micro Enterprise Credit Collection Debt Research And Analysis

Small and micro enterprises are an important driving force for the development of national economy,with a wide range of characteristics.They are distributed in various fields of national economy,and play an important role in activating market economy,stimulating employment,creating income and maintaining social stability.Supporting the development of small and micro enterprises has always been the top priority of national strategy.However,the sound development of small and micro enterprises has been hindered by the internal reasons such as lack of sound financial system,small strength,insufficient mortgage assets and backward credit status,as well as the external reasons such as the imperfect financial system,weak awareness of small and micro financial services,and single financing channels The problem of financing difficulties of small and micro enterprises has always existed.The emergence of credit-raising collection bonds for small and micro enterprises is a new initiative to alleviate the financing difficulties of small and micro enterprises in China.The main points of this paper are as follows:1.Coordination among the three main bodies of small and micro-debt can effectively realize benefit sharing;in the issuance structure,with the help of front-end direct financing and back-end indirect financing,it can achieve the separation between the issuer and the user of funds,and relies on multi-level risk mitigation measures to provide risk protection for creditors and reduce the probability of default risk.2.The potential motivation for issuers to issue the bond is to obtain the spread between Commission and loan to improve their capital structure and supplement the capital needed for their daily operation.At the same time,the size of issuance can be determined by the size of assets and the number of local small and micro enterprises,so as to avoid excessive or insufficient use of funds.3.Multi-level credit enhancement measures can improve the success rate of bond issuance and reduce costs,but there is still a high coupon interest rate.New credit enhancement methods are needed to improve the market acceptance of the bond.This paper is mainly divided into five parts.Firstly,on the basis of reading the relevant domestic and foreign literatures on the financing problem of small and micro enterprises,it analyses the causes of the financing difficulties of small and micro enterprises and briefly expounds the difficulties and innovations of this paper.Secondly,it collates the development process of small and micro debts and collects and collates the latest available data on small and micro debts to introduce their development status quo and the introduction of small and micro debts.Based on the three principles of credit enhancement,risk mitigation and credit endorsement,the paper summarizes its characteristics through the description of the operation structure.Thirdly,the paper chooses"16yuhang finance holding small and micro debts"as the object of case analysis,and introduces in detail the background of the small and micro-debt issuance,the issuing subject and the purpose of raising funds,as well as its issuing purpose,issuing scale,issuing process,credit enhancement measures,financing cost and so on.This paper analyses the risk of platform and points out that the credit enhancement measures are not perfect,the advantages of financing cost are less,and the main body still has risks.Finally,some suggestions are put forward to solve the problems existing in the"16yuhang finance holding small and micro debts".Widening the channels of credit enhancement measures for small and micro debts includes cultivating the main body of credit enhancement,improving the credit enhancement system,perfecting the credit system of small and micro enterprises,and avoiding the risk of local government financing platform by establishing platform risk early warning mechanism and improving the modern enterprise system of platform.