Research About SMEs' Financing Under Supply Chain Financial Model

Plenty of SMEs(small and medium-sized enterprises) have made great contribution to our economy;they have become the most important ingredient of our economic system.Because of their own features,it is nearly impossible for SMEs to get cash from direct financing sector. Financial institutions such as banks,hope to transfer capital to large-scale enterprises rather than to SMEs,so,things are difficult for SMEs to get cash from indirect financing sector.In order to resolve this international puzzle,scholars have done a lot of research.There are some suggestions that we need a number of small and medium-sized financial institutions.And some one suggests that we have to develop the Guarantee System.Other suggestions are that relation financing is effective.In fact,most of the researches about this issue in domestic are at the macro-level.When we consider the situation about the development of financial market,we find that there is a long way to resolve the puzzle about SMEs' financing by these means.So in this paper,we consider that the financial institutions have to develop some special risk prevention mechanism with other stakeholders,such creative program need to be negotiated with other participants in the market.Set up these programs to relieve the burden of SMEs' cash seems to be more practical.Nowadays,with the development of Logistics Service Industry,Supply Chain Finance becomes the efficient and effective way to resolve SMEs' financing dilemma in China.In this paper,we analysis the models of Supply Chain Finance and study the case of" YUNTONG " Supply Chain apply by Bank of Communications.