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西北大学硕士学位论文
摘要
中小企业是国家经济发展的重要支柱，承担着经济发展、活跃就业、推动科
技创新、稳定社会、改善民生的角色，是我国经济发展中一支规模庞大的主流力
量。中小企业自身综合素质一般，缺乏信用，缺乏有效抵质押资产等，导致企业
在融资问题上处于劣势地位，因此，中小企业当前最大的障碍就是融资问题。企
业如何选择适合自身发展的融资方案，成为当前许多中小企业所面临的问题。
本文以JH公司为研究对象，将相关融资理论与实际结合，深入剖析中小企
业面临的融资难题，对企业融资业务开展有一定的指导意义。本文运用文献研究
法、实地调查法等研究方法，将相关融资理论与JH公司实际结合，分析JH公司
目前的融资现状，如合作银行分散，单笔融资金额小且分散；融资结构不合理等，
进一步从内部、外部分析产生该融资现状的原因。为帮助公司解决当下融资难题，
本文首先基于历年经营数据，运用销售百分比法预测JH公司的资金需求；其次，
提出银行贷款、股权融资、融资租赁等融资方式，运用组合融资方法设计初步融
资方案。最后，通过资本成本、负债结构等维度分析各融资组合的优劣势，最终
确定最佳的融资方案。此外，为保障融资方案顺利实施，本文提出了一些保障性
措施。
短期来看，为JH公司设计最佳融资方案，可以帮助企业解决当下融资难题，
为当前高速发展注入资金活力；长远来看，可督促企业规范内部融资流程、建立
可靠的信用体系等。同时也可为同类型制造型企业的融资带来一定的借鉴意义。
关键词：中小企业，融资，融资方案
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Abstract
Abstract
Small and medium-sized enterprises are an important force of national economic
development, playing an important role in promoting economic development,
achieving employment, promoting scientific and technological innovation, social
stability and improving people's livelihood, and are the one of the most dynamic and
large-scale mainstream force for china's economic development. That the
comprehensive quality of the medium and small-sized enterprises are general, the
credit degree is not high, lacking of effective assets and so on, they are at a
disadvantage in financing. Therefore, the biggest obstacle for small and medium-sized
enterprises is financing at present. How select financing schemes that are suitable for
self-development become the problem that many medium-sized enterprises are faced
with at present.
In this paper, taking JH company as the research object, combining relevant financing
theory with practice, in-depth analysis of small and medium-sized enterprises facing
financing problems, it has certain guiding significance. This article uses the literature
research method, the field survey method and so on, combining relevant financing
theory with practice of JH company, analys0e the JH company's current financing
situation. Take for an example, co-operative bank diversification, small and
fragmented individual financing; the unreasonable financing structure and so on, and
further from the internal external analysis of the causes of the financing status quo. In
order to help the company solve the current financing problem, this paper base on the
past years of business data first, we use the percentage of sales method to forecast the
future capital demand; then, this paper proposes bank loan, equity financing, finance
lease and so on, designing the initial financing scheme by using the combination
financing method. We analyze the advantages and disadvantages of each financing
through the cost of capital, debt structure and other dimensions, finalise the best
financing options. In addition, in order to ensure the smooth implementation of the
financing program, this paper puts forward some safeguards.
In the short term, that we design the best financing plan for the company can help JH
company to solve the current financing problems, and inject financial vitality into the
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