Study On SMEs’ Relationship Loan Under Information Asymmetry

In our country,SMEs play an important role in promoting economic growth and stable employment.However,SMEs generally face financing difficult with the rapid development of SMEs.One reason is the SMEs lack qualified collateral,followed by SMEs’ poor ability to resist risks.But the fundamental reason is the asymmetric information between banks and enterprises,Most SMEs financial system is not perfect,it is difficult for banks to obtain information about the fund risk.It is easy to cause adverse selection if the banks only use rate instrument to adjust the fund demand.Because the lack of necessary supervision moral hazard often occurs after the enterprise gets the loan.To sum up,SMEs in the financing process is vulnerable to affected by credit rationing.Therefore,to solve the financing difficulties of s SMEs’ must reduce the information asymmetry between banks and enterprises.To solve this problem,this article explores the possibility and conditions of addressing the credit rationing of SMEs from the point of information acquisition.The analysis of information how to ease credit rationing,increase enterprise loan availability.Finally,we will combine the specific case analysis.To find out the effective relief to solve SME financing difficulty,and put forward some suggestions.Through the analysis of the theory and the specific case we can see that the key to alleviate the financing problems of SMEs is to reduce the information asymmetry between banks and enterprises.In order to reduce the information asymmetry between banks and enterprises,the banks should collect information about the enterprises before the loan and supervise the enterprises after the loan.So it can maintain long-term and close cooperation between banks and enterprises.Enterprises become the relationship customer between the bank customers,improve the availability of loans.Therefore,as SMEs themselves should take the initiative to disclose relevant information to the banks,in order to reduce the cost of banks information acquisition and their financing costs,so that can achieve a win-win effect.