Based on the survey of 34 enterprises in districts of Jiangsu province,this paper ana-lyzes the relationship between the enterprise endowments,financing characteristics and their financing channels.The results showed that the formal and private financing channels have met the enterprise different financing demand.Enterprises with higher information endowments and asset endowments are easier to get funds from formal financial channels.For micro-enterprises, individual credit or asset mortgage is an important way to obtain bank loans.Therefore,for banks to provide good financial infrastructure in order to innovate financial products better ser-ving for small and micro enterprises,the government should perfect the accounts receivable pledge registration system and personal credit information service system.%通过对江苏省部分地区34家企业的调研，分析企业的禀赋、融资特征与融资渠道的关系。研究发现：正规金融和民间融资渠道满足了不同企业的融资需求，较高信息禀赋和资产禀赋的企业更容易从正规渠道获得融资；对于微型企业来说，凭借企业主个人信用或通过资产抵押是其获得银行贷款的重要途径。因此，应完善中国人民银行的应收账款质押登记公示系统和个人征信服务系统，为银行创新小微企业金融产品提供良好的金融基础设施。
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