For a long time，financing difficulties and high financing cost have always been the major issues that have hindered the development of enterprises. After the revision of “The Promotion Law of China’s Small and Medium Enterprises” the financing of small and medium enterprises had received further attention. The People’s Bank of China and other three ministries and commissions in the “Opinions on Further Deepening the Financial Services of Small and Micro Enterprises” proposed to urge and guide financial institutions to increase financial support for small and micro enterprises，and relief the financing difficulties for small and micro enterprises. In response to the financing difficulties of small and medium enterprises，Shandong Province had issued documents such as “Several Opinions on Supporting the High-quality Development of Private Economy”，continuously enhancing the service capabilities of financial institutions，supporting direct financing of enterprises，and assisting the development of small and medium enterprises. This report combines regular financing and private financing，analyzes Shandong Province’s small and medium enterprises’ bank loans status，bill market，bond market，direct capital market financing and private lending，and finds that financing of the small and medium enterprises in Shandong Province presents financial acquisition capacity still need to be improved，the enterprises financing channel are single，capital market relief financing difficulties and active develop supply chain finance.