Abstract: We design questionnaires to get basic data from 204 financing guarantee institutions in 15 cities to analyze the financing guarantee service efficiency of policy guarantee agencies, commercial guarantee agencies and mutual guarantee agencies for small and medium enterprises. Conclusions from the empirical analysis reveal that the function of the above guarantee institutions in financing service system for small and medium enterprises varies in different areas. Regional economic development, industry concentration degree, the level of enterprise credit system, the degree of government support, the fund demand of small and medium enterprises and the development and location of commercial banks are the main factors to cause regional differences in financing guarantee service efficiency. Moreover, the impact of the above factors on the financing guarantee institutions is quite different accordingly. These conclusions provide a basis for reasonably defining the service function of the above three patterns of guarantee institutions in the financing service system for small and medium enterprises.

Key words: financing guarantee institutions, financing service efficiency for small and medium enterprises, regional difference, effective service section