The Non Mainstream Financing Mode Of Small And Medium Sized Enterprises

< p > financing mode is different. The classification standard is different. With the gradual opening of the financial industry, there will be more innovative financing methods.

The following is a description of the non mainstream ways of financing for Chinese Enterprises: < /p >

< p > < strong > First: issuing bonds < /strong > /p >

< p > bond is a debt and debt certificate issued by an enterprise to investors when it directly raises funds to the society, which promises to pay interest at the fixed interest rate and repay the principal according to the agreed conditions.

The current company law stipulates that only Limited by Share Ltd, wholly state-owned companies and more than two state-owned enterprises or more than two wholly state-owned entities can be financed through bond issuance.

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< p > < < a > > < a href= > http://www.91se91.com/news/index_c.asp > > /a > financing requirement: the limited liability company with a net asset yield of not less than RMB 30 million yuan and a net assets of not less than 60 million yuan can issue bonds, plus more conditions.

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< p > bond issuance can also be issued by public offering or private placement. The former has higher paction costs, but it is more likely to expand the social popularity of issuers.

The issuer can also apply for the issuance of convertible bonds.

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< p > < strong > Second: private lending < /strong > < /p >

< p > private lending mostly occurs in areas with relatively advanced economy and high degree of marketization, such as Guangdong and Jiangsu and Zhejiang provinces.

These areas are economically active, with strong liquidity and huge demand for capital.

The real demand of the market determines the long-term existence and prosperity of private lending.

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In the P lending process, we should pay attention to the complete loan elements. The borrower and the borrower should sign written borrowings or agreements on the amount, interest, time limit and liability of the loan.

The regulation stipulates that the interest rate of private lending can be higher than the interest rate of bank loans, but the maximum rate should not exceed four times that of the same kind of bank loans. The part that exceeds this limit is called usury and is not protected by law.

In addition, interest should not be included in the principal to calculate compound interest (i.e. profit margin), otherwise it will not be protected by law.

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< p > at present, the savings deposits of residents in China are more than 13 trillion yuan, and the huge wealth of the people is quite incompatible with the narrow channels of private investment.

In order to make up for the unclear responsibilities and the lack of binding force of the private borrowers, the bank has launched the "individual entrusted loan business", which has become an innovative form of private lending and bank loans.

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< p > < strong > Third: credit guarantee < /strong > < /p >.

< p > credit guarantee is between commercial banks and enterprises. It is an intermediary service activity that combines credit attests and asset liability guarantees.

Since the guarantor is the potential creditor and owner of the guarantor, the guarantor has the right to supervise the production and operation activities of the guarantor, or even to participate in its management activities.

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Since October 1, 1995, since the implementation of the People's Republic of China guarantee act in October 1, 1995, Guarantee Corporation and guarantee institutions have been set up everywhere.

It is reported that the National SME credit guarantee institutions have reached 2188, raising a total guarantee fund of 65 billion 720 million yuan, a total of 188 thousand enterprises guaranteed, secured loans 323 billion 700 million yuan.

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< p > < strong > Fourth: financing lease < /strong > /p >

< p > > a href= "http://www.91se91.com/news/index_f.asp" > financing lease < /a > refers to the pfer of all or most of the risks and rewards related to asset ownership.

The essential difference between financial leasing and traditional leasing is that the traditional lease calculates the rent with the time that the lessee leases the goods, while the finance lease calculates the rent with the time of the lessee occupying the financing cost.

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< p > financing lease is a comprehensive financial product which integrates trade, finance and leasing. The Lessor provides financial services rather than simple rental services.

With the help of leasing this carrier, it is not only a financial innovation, but also a trade innovation.

There are mainly types of financial leasing, such as simple financial leasing, financing pfer, repaying lease, leveraged finance leasing, entrusted financing lease and project financing lease, and with the continuous development of financial products, there will be more business methods.

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< p > < strong > fifth: share pfer < /strong > /p >

< p > equity financing is part of a company's share pfer to raise funds needed by an enterprise.

After pferring equity, the ownership structure, management right, development strategy and the way of enterprise income will change.

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< p > pferring equity financing is also a process of introducing new partners, which must be carefully considered by enterprises.

< a href= "http://fz.sjfzxm.com/" > equity financing < /a > can be divided into comprehensive acquisition (merger), partial acquisition (holding or not holding) and so on.

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< p > industrial investment fund is a trend worthy of attention in equity financing.

Although the "fund law" has not been formally promulgated, the fund can not be formally launched and raised, but the fund has already launched private placement in the form of investment companies, active in various fields.

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< p > < strong > type 6: venture capital < /strong > /p >

< p > venture capital is a venture capital project in a broad sense. In a narrow sense, venture capital refers to investments with high risks, high returns, high growth potential and high technology projects.

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< p > venture capital generally comes from all kinds of pension and retirement funds, charities, investment banks, insurance companies, individual investors and so on. Vc firm is a specific operation organization, responsible for investment and risk, often high-tech enterprises will become a hot spot of investment.

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< p > < a href= > http://pop.sjfzxm.com/popimg/fz/index.aspx > venture capital > /a > has the characteristics of high risk, high return and high technology, but it often does not need to gain the controlling power of the enterprise, but it is for high value-added and high yield.

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< p > < strong > seventh: retained earnings financing < /strong > < /p >

< p > retained earnings are formed after the enterprise pays the income tax, and its ownership belongs to shareholders.

The shareholders' retained profit after tax is retained in the enterprise, which is essentially an additional investment to the enterprise.

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< p > the key to the rational distribution of dividends is not only to satisfy the shareholders, but also to the development of the company and balance the dividend distribution.

Among them, fixed dividend policy, normal dividend plus additional dividend policy are two basic policies adopted by the company.

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< p > fixed dividend policy means that the company will pay dividends in installments over a longer period of time, and dividends do not change with the change of operating conditions; the normal dividend plus extra dividend policy means that the company only pays regular dividends in a relatively low amount in normal circumstances, and in the year of more surplus, dividends are paid to shareholders according to the actual situation, which means that the company has greater flexibility in supporting dividends.

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< p > < strong > eighth: asset management financing < /strong > /p >

< p > enterprises can finance their assets through mortgage, pledge and other means, mainly including accounts receivable financing, inventory financing and other means.

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< p > main ways are: < /p >.

< p > < a href= "http://www.91se91.com/news/index_x.asp" > accounts receivable < /a > financing.

As accounts receivable financing has greater flexibility, it can become a loan guarantee, and obtain certain financing credit through mortgage and agency, but the cost is high.

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< p > two, inventory financing.

Inventories are assets with relatively high liquidity. They are suitable for short-term loans. In addition, inventory can also be financed by keeping stock of the right to use.

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< p > < strong > ninth: bill discount financing < /strong > < /p >

< p > bill discounting financing refers to a bank's credit business when a bill holder pfers the commercial bill to the bank when the fund is insufficient, and the bank pays the balance to the payee after deducting the discount interest on the face value.

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One of the advantages of such a financing method is that banks do not need to borrow money on the scale of the assets of the enterprise, but rather lend money on the basis of market conditions (sales contracts). P

The application of discount financing by enterprises is much simpler than the application for loans, and the cost of financing is very low.

Besides, negotiable instrument financing does not need guarantee and is not restricted by asset size. It is especially suitable for small and medium-sized enterprises.

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< p > < strong > tenth: pawn financing {page_break} < /strong > /p >

< p > pawnage refers to the act of a user who takes relevant assets or property rights as a material pledge to a pawn shop and pays a certain proportion of expenses to obtain gold and pay the interest, repayment of principal and redemption of pawn products within the agreed time limit.

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< p > the main feature of pawn financing is flexibility, not only for pawnshops, but also for flexibility in pawnage, and when fees can be formulated flexibly, the financing procedures are simple and quick, with limited conditions.

Of course, pawn shops can auction pawnshops if they can not redeem and pay interest fees on time.

Another feature of pawn financing is that the cost is higher, and its financing cost is often higher than that of bank loans.

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< p > State regulations, when the object should be estimated in accordance with the present value, and according to the valuation of 50% to 90% to determine the price.

The monthly interest rate of pledge loans can be up to 50% on the basis of the prescribed loan interest rate of the state level, and the total monthly fee shall not exceed 4.5% of the price.

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< p > < strong > eleventh: project financing < /strong > < /p >

< p > project financing refers to the establishment of a item company by project sponsors for financing and operation of the project. It is a form of loan without any recourse or limited recourse, which is secured by item company and is paid by the item company as cash flow and proceeds of the item company as the source of repayment and the assets or interests of the project as collateral.

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< p > project financing is mainly used for projects that require huge amounts of capital, large investment risks and difficult to meet traditional financing methods, but with stable cash flow, such as natural gas, coal, oil and other natural resources development, as well as pportation, power, agriculture, forestry, electronics, utilities and other large-scale construction projects.

Project financing has the characteristics of large amount of one-time financing, long construction period and long recovery period, many uncertain factors, and generally good economic and social benefits.

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< p > < strong > twelfth: commercial credit financing < /strong > < /p >

< p > in commodity trading, a loan relationship formed between the two parties through delay in payment or delay in delivery.

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< p > commercial credit financing mainly consists of three modes of operation: < /p >

< p > one is accounts payable financing, for financing enterprises, it means giving up the discount of cash pactions, and at the same time, it also needs to bear certain costs, because the sooner the payment is, the more discount.

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< p > two is commercial paper, a debt and debt instrument issued by an enterprise in deferred payment pactions.

For some companies with good financial and reputation, the commercial bills issued can directly raise short-term money funds from the money market.

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< p > three is the advance payment, which is the commercial credit provided by the seller to the seller. It is a short-term source of funds for the seller. The application of the credit form is very limited. It is limited to the market shortage, the buyer is in urgent need or the necessary commodity, the construction cycle and the heavy manufacturing are longer and the production cycle is longer.

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< p > < strong > thirteenth: special fund investment < /strong > /p >

< p > special funds mainly refer to the special funds set up by the government for the specific projects funded by the government.

For enterprises that are competitive in a certain industry or a certain field, special funds are the most appropriate choice.

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< p > China's small and medium enterprises promotion act, which began in January 1, 2003, has clearly defined the obligations and responsibilities of governments at all levels in promoting and guiding the development of SMEs, and has a positive effect on the healthy development of SMEs.

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< p > at present, the central finance policy includes the international market development fund for small and medium-sized enterprises, the Innovation Fund for technological SMEs, the pformation funds for agricultural science and technology achievements, the special subsidy funds for the service system of small and medium-sized enterprises, and the small secured loans for laid-off workers.

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