1. Small and medium-sized quality of enterprise is low and its credit status is poor.
The quality of small and medium-sized enterprises in China is generally not high, and a considerable part of them are urban and rural enterprises. Enterprises' weak technological innovation ability, lack of competitiveness and high market risk make banks and other financial institutions afraid to grant loans to them. Small and medium-sized enterprises are mostly private enterprises or partnership enterprises, with backward management level, high operational risk, poor credit concept, imperfect financial system and opaque information, which makes financial institutions unable to grasp the loan risk of small and medium-sized enterprises and increases the lending risk.
2. SMEs lack collateral
No matter what enterprises require loans or guarantees, they need collateral to provide guarantees. The only collateral of small and medium-sized enterprises is their limited and low-value land, real estate and machinery and equipment, and their scale also restricts the value of these collateral.
3. SMEs lack talents
Most small and medium-sized enterprises in China are private enterprises, and the quality of enterprise leaders is not high, lacking modern management concepts and leadership.
The performance of small and medium-sized enterprises is not ideal, and low credit is the biggest obstacle to corporate loans. Most small and medium-sized enterprises lack management experience, weak foundation, lack of standardized corporate governance structure, imperfect financial system and low transparency. In addition, the industries in which most small and medium-sized enterprises are located are not monopoly industries, but highly competitive industries, and the overall profit level is not too high, which makes the overall evaluation of the quality of credit assets of small and medium-sized enterprises by banks not high. Moreover, the evasion of bank debts by small and medium-sized enterprises is more serious, which leads to the low credit rating of small and medium-sized enterprises. In addition, there is a lack of authoritative enterprise credit evaluation institutions in China, and the current credit rating standards of state-owned commercial banks in China are not conducive to SMEs.
2. There are many weak links in the management of small and medium-sized enterprises, and their ability to resist risks is weak.
3. The commercial banking system affects the loans of SMEs.
Because China's commercial banking system, especially the four state-owned commercial banks, is in the process of transformation, far from marketization and commercialization, in recent years, in order to prevent financial risks, state-owned commercial banks have actually turned to large enterprises.
In addition, the unit transaction cost of SME loans is too high.
4. Small and medium-sized enterprise credit guarantee institutions are small in scale and lack of risk dispersion and compensation system.
5. The financial system structure is unreasonable and the policy support is insufficient.
6. The lack of relevant legal system makes it difficult to establish a normal market order.
Although the SME Promotion Law has been promulgated and implemented, it still needs a series of supporting laws, policies and regulations to refine it. At present, China lacks the relevant credit legal system, the unified enterprise and individual credit information system and the unified authoritative management department, which leads to the lack of effective coordination and convergence of relevant policies, the disorderly operation of credit guarantee institutions and the lack of legal system to support the development of small and medium-sized financial institutions.