SMEs have an extremely important position in the national economy and social life, but the SMEs financing is so seriously hampered that it hinders the development and growth of the enterprises. After the 2008 financial crisis, with the financing method of Chinese corporate sector growing diversified, bonds and bills financing has become increasingly important. However, the traditional bank loan is still important for enterprise, especially SMEs. Along with the 4 trillion yuan economic stimulus plan and easing monetary policy, a lot of money was supplied to the market in 2009 and 2010. But according to a survey, SMEs’ financing showed little sign of improvement. Then, as the monetary policy shifted from easing to tightening, lending rate rose sharply from 2011 through 2014.In this paper, the balance-sheet, funding channel, lending rate of the corporate sector and SMEs will be analyzed to elucidate SMEs’ financing difficulty.