不依赖于核心企业的订单融资模式研究

订单融资能够有效解决中小企业的融资困难，但在实际应用中往往要求订单发出方具有核心企业地位，阻碍了订单融资的发展。从资金和货物流转的角度来看，订单融资业务过程分为采购、生产和交付三个环节。在对各环节风险分析的基础上，提出对于符合银行质押要求的产品的订单融资，通过几种供应链融资方式的组合使用能够有效控制融资风险，而不需要限定其下游采购企业的核心企业地位。反之，对于不符合银行质押要求的产品的订单融资，贷方在资信不足时可以通过选用合适的信用担保模式来解决。

Research on Purchase-Order Financing Without Core Enterprise Support

Purchase - order financing plays a very important role in solving the financing problem of middle and small- sized enterprises. However, the policy is only open to the orders that come from core enterprises. According to cash and material flow in finishing the order, purchase - order financing process can be divided into three periods ： purchase, manufacture and deliver. By analyzing the risks of the above periods, loan bank can control risk by combined use of supply chain financing methods if order product has good liquidity, stable price and can be used as pledge. On the other hand, the company may take use of credit warranty to obtain loan if their product can＇ t satisfy bank＇ s pledge requirements.