Like stock financing, bond financing is direct financing, while credit financing is indirect financing. In direct financing, departments that need funds go directly to the market for financing, and there is a direct correspondence between borrowers and borrowers. In indirect financing, lending activities must be carried out through financial intermediaries such as banks, which absorb deposits from society and then lend them to departments that need funds. Bank loan financing means that securities companies borrow money from banks to raise needed funds. The ways for securities companies to borrow from banks include short-term credit loans and mortgage loans. Short-term credit loans are mainly revolving credit lines provided by banks. When a securities company reaches an agreement with a bank, it has the right to withdraw money from the credit line within a certain period without applying again. The credit line is only used as emergency funds when the capital turnover of the securities company is difficult. At present, it is mainly used by European and American securities companies. Mortgage loan mainly refers to loans issued by banks with the property of securities companies or third parties as collateral, including all kinds of securities and fixed assets.