After the financial war without smoke ended, the world economy is in a period of downturn. China has advantages compared with other countries, but it also did not escape the shackles of crisis. Because there are no deep pockets as support for SMES, the financial crisis is undoubtedly to give them fatal injure, especially in respect of financing. In order to solve the difficulties, eyes for survival of small and medium-sized enterprises are thrown at the private lending which is not limited by regions. In recent years, as the private loans are broaden in scales and in varied forms, the private lending plays an irreplaceable role beyond the financial institutions, at the same time, it meets the needs of the masses of temporary financing and supports the development of the SMES. But because of not forming an unified and clear regulations, especially not giving a reasonable position to private lending in China, disputes about private lending increased and financial risks are also frequent. So it is necessary to construct the legal system on private lending.