Sme Financing In The Credit Evaluation Study

With the development of China's opening and reform, SMEs are playing an increasingly important role in the national economy. SMEs in China have gradually become an important power to push the development of national economy and maintain social stability. In the development process, they are still facing with many difficulties and problems, among which, the lacking of funds and difficult financing is the most universal and principal factor.It is hindering with SMEs'development as bottleneck, has aroused the concern of the whole socity.Based on the analysis of financing status and reasons of financing difficulty of SMEs in china,the main cause is information asymmetry and lacking of a suit of credit evaluating index system specially for SMEs.Starting with the financing difficulty of SMEs, basing on the analysis of the defects of present credit evaluating index system in our country, this paper establishes two suits of credit evaluating index system respectively for financial factors and non-financial factors to reflect the SMEs'credit roundly and factually, according to the characteristics of our country's SMEs. The paper uses the method of principal component analysis(PCA) to establish comprehensive evalution model for financial factors, uses the method of analytic hierarchy process(AHP) combined with fuzzy comprehensive evaluation to establish the comprehensive evalution model for non-financial factors, then combines the two models to form the credit evaluating model of SMEs with weighted sum method.In order to explain the use of this model and verify the feasibility and scientificity of this model, the author chooses a listed SMEs to evaluate its credit level using this model. The result proves that the credit evaluating index system and model which are established in this paper are feasible and scientific, and they are able to reflect the SMEs'credit roundly and factually. They can help commercial bank to make correct Loan decision, help to solve the problem of financing difficulty of SMEs. The paper point out the insufficiencies and future direction of research in the end.