Case Analysis On Asset-backed Securitization Of Baidu Small Loan Company

Small loan companies has greatly settled the problem about financing of small and medium-sized companies.But with the rapid expansion of the size and number of microfinance companies,capital has become a major problem restricting their development.Therefore,some companies have tried a new financing method to solve the problem of financing difficulties--asset securitization.This paper attempts to comprehensively analyze the asset securitization financing methods of China's small loan companies through the case of "baidu small loan-tianfeng 2017 asset-support special plan",which can provide reference for more small loan enterprises.In the introduction part,this paper first introduced the background and significance of the case.Small and medium-sized enterprises are developing rapidly in the market economy,small loan companies face the strong demand for funds from these small and medium-sized enterprises and need to first solve their own capital bottleneck problems.The theoretical achievements of the research on asset securitization are quite rich.This paper sorts out the concept,basic process and main mode of asset securitization.In the part of case analysis,the paper introduces the basic situation of baidu small loan special plan,and analyzes the drivers of chongqing baidu small loan financing through asset securitization from the perspective of industry background and company.Then the five core elements of the transaction structure design are analyzed in depth,including the original equity holder,basic assets,risk isolation,credit enhancement measures and cash flow repayment.Then the advantages and risks of the project are analyzed and preventive measures are proposed.Finally,it is the summary of the full text,summarizes some enlightenment from baidu small loan cases,and makes a prospect for the future financing development of small loan industry.