信息技术高速发展背景下，互联网金融对小微企业支持的路径、效应值得深入探究。本文依托信息不对称和金融反锁定效应，以网络众筹为例，构建模型分析发现网络众筹主要通过规模反锁定、结构反锁定和技术反锁定支持小微企业。在信息不对称的情况下，网络众筹可以通过采集信息、增大违约成本等机制有效甄别小微企业风险；通过规模经济，降低信息成本实现反锁定效应。基于此，本文从完善平台认证机制、构建网络信用体系、引入对赌机制以及强化风险背书等方面提出对策建议。

In the context of the rapid development of information technology, the path and the effect of internet financial supporting S&MEs, is worth exploring. Based on the information asymmetry and anti-locking effect, this paper analyzes and finds that internet crowdfunding supports S&MEs is mainly through scale anti-locking, structural anti-locking and technical anti-lock. In the case of asymmetric information, internet crowdfunding can effectively identify the risk of S&MEs through collecting information and increasing default cost. It can reduce the cost of information through the economies of scale to achieve the anti- lock effect. Based on this, this paper puts forward some countermeasures and suggestions from the aspects of improving the platform authentication mechanism, constructing the network credit system, introducing the gambling mechanism and strengthening the risk endorsement.