中小企业集合债券是一种新型的融资模式,在一定程度上缓解了融资难问题,但其自身也存在许多局限其发展的问题。文章在分析其发行特点和过程的基础上,深层剖析各参与主体存在的问题和面临的困难,发行企业自身管理不规范,担保资源缺失,审批程序复杂且时间过长等六个问题。并从规范企业经营管理,大力发展担保资源,扩展担保方式,成立专门审批部门以及政府,加大集合债券宣传力度等方面提出了政策建议。 The SME bond assembly is a new type of financing model that has alleviated the financing difficulty to a certain extent, but it also has many problems that limit its development. Based on the analysis of the characteristics and process of the issuance, the article deeply analyzes the problems and difficulties faced by the participating parties, the issue of non-standard management of the issuing enterprises, the lack of guarantee resources, the complicated examination and approval procedures, and the long period of time. And put forward policy suggestions from standardizing the operation and management of the enterprise, vigorously developing the secured resources, expanding the mode of guarantee, setting up a special examination and approval authority and the government, and intensifying the propaganda of collective bonds.