Research On Credit Rating Of Smalland Micro Enterprises In China

Small and micro enterprises(SMEs) play an irreplaceable role in China’s economy,such as the stability of economic development, employment issues, social stability. But now, the loans problem of SMEs breaks out that the funding needs are not met in the process of development. The reason is that the credit situation is difficult to rate, leading to that the SMEs can not get trust from banks. Thus they can not get loans, resulting in the deepen financing problem. This is mainly due to the unstandardized financial system(not even specialized financial sector exists), weak anti-risk capability, poor controllability, weak credit awareness, lack of historical financial data. Banks can not use the credit rating system of large and medium-sized enterprises in the credit rating for SMEs, because the index, weight and other factors are difficult to accurately reflect the actual situation and development prospects of them, otherwise it will have a negative impact for their loans problem. Taking this into consideration and coupled with more national support policies, how to rate credit for SMEs is currently a hot issue of both in industry and academia, and this paper also explores.Firstly, we collated and summarized the literatures on SMEs’ credit rating, found that the SMEs were classified as medium-sized and small enterprises in most scholars’ researches, instead they are separated out for research. In view if this, we separate the SMEs from small and medium-sized enterprises to redefined for credit rating, because their credit rating system is different and the defects exist. Secondly, we propose the ideas, principles and difficulties of indicators system’s construction, and accordingly build a credit rating system of SMEs. Then, we explain the indicators, using AHP to determine the index weight. Taking the uncertainty into consideration, we hope to make the qualitative indicators quantitative, and evaluate empirically by constructing fuzzy comprehensive evaluation model and cloud focus judgment model. The rating results are basically consistent with the bank’s internal credit rating results. It proves that the reasonableness and applicability of these two methods in credit rating of SMEs and the superiority in dealing with qualitative problem, which illustrate this article has practical value and reference value to some extent. Finally, we describe revelation of credit rating for China’s SMEs.