Abstract: 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.

Key words: internet crowdfunding, SME, anti-locking effect, risks screening