Research On Pricing Model Of Small Micro - Enterprise Loan Under Interest Rate Marketization

The main focus of this essay is about the mechanism of loan pricing for small and micro enterprises of commercial banks. With the development of economy, small and micro enterprises are becoming more and more important. The percentage of SME is really high. SMEs create more than half of whole GDP and occupy big percentage in tax and social sales. However, the financial resources that SMEs can get cannot match its significant status in national economy. Financing difficulties are becoming the main problem that stop SMEs from growing and developing. With the marketization of interests, the country cannot decide the interests directly. The interests are decided by the demand and supply of currency. Our current interests ‘policies are setting lower limit for loans and no upper limit. We can take a wild guess that interest’s policies will be totally open. This megatrend brings not only opportunities to commercial banks and SMEs, but also challenges.This essay is based on interest’ rates marketization and studies the EVA(economic value added) loan pricing model. Analyze and summary Western and Chinese loan pricing models. Get the basic interest rate measurement based on the EVA theory(economic value added) and do the empirical study. Some supplements are made to the model. Firstly, ensure the basic yield of commercial bank; secondly, contributions of customers are different, we modify the model according to the contributions made by the customers. finally, the credit risk of SMEs are relatively high, a successful pricing model must consider the risk, so we quantify the credit risk and add it into the final price.