Intellectual property financing is vital to accelerate the development of technology-based SMEs. Due to the lack of scale in the intellectual property financing market，and heterogeneity of intellectual property assets，there are many issues existing in intellectual property financing of technology-based SMEs，such as imperfect intellectual property value assessment system，high financing cost，insufficient reporting of intellectual property rights by enterprises，insufficient understanding of intellectual property rights by banks and difficult disposal of intellectual property collateral. It is suggested that Henan should strengthen the support of intellectual property financing policy，improve the government policy guarantee system，improve the enterprise intellectual property management system，build a database and credit system for technology-based SMEs，and use digital tools to reduce the risk of intellectual property financing，so as to improve the environment for intellectual property financing of SMEs.