Research on Financing Cost of SMB in P2P Lending Platform

How to play the advantages of network loan platform to reduce the financing costs of net loan platform both in theory and practice has important significance. In this paper, we use the method of qualitative and quantitative combination. First of all, through the interview of the net loan platform practitioners, the financing cost of the net loan platform comes from the internal and external parts. Part of the network loan platform should be righteous, but counterproductive human and material costs, credit costs, information efficiency, transaction costs and matching costs; part of the emerging industry as a challenge, compliance costs, technical costs and safety costs and other cost. And put forward the top design credit system, promote the credit system; build a unified development of regulatory policies to reduce compliance risks; increase investment in technology, share the improvement of technological progress bonuses. Through the establishment of the regression model, the paper analyzes the influence of various indexes of network loan platform on the cost of network reception. It is found that the background of net loan platform with shareholder and executive team as the proxy variable has significant influence on the cost of network loan platform. The effect is not significant. Risk control indicators on the net loan platform cost has a significant negative effect. The impact of operating capacity on the cost of net loan platform differentiation, the acquisition of the cost of positive relations, the other is negative relations. Policy compliance indicators of financial security on the net loan platform cost significantly, the other did not significantly affect the role of liquidity indicators of differentiation, the average borrowing period will significantly affect the net loan platform costs, liquidity is a negative impact. And finally put forward the policy and recommendations and research limitations and future direction.