吴安龙

摘  要：工程建设项目建设周期长、资金需求量大，故而由项目发起人来进行工程项目融资是破解“钱荒”的有效途径，但是面对等额本息与等额本金这两种偿还贷款的方式，如何决策是不容忽视的问题。鉴于此，该文采用文献资料法、逻辑分析法、案例分析法，解析了工程项目融资的内涵，分析了偿还贷款中等额本息与等额本金这两种方式的差异，尝试对每期还款的本息均相同的等额本息与每期还款里的本金均相同的等额本金以及工程项目融资偿还贷款时如何选择进行了机制的建构，以期有利于厘清对等额本息与等额本金差异的认识，有助于工程项目融资中偿还贷款时更加明智地选择还款方式，有益于推动工程项目融资工作的开展。

关键词：工程项目融资   等额本息   等额本金   贷款

中图分类号：F275                            文献标识码：A文章编号：1672-3791（2021）07（c）-0171-03

Abstract： The construction period of engineering construction project is long and the capital demand is large. Therefore， the project financing by the project sponsor is an effective way to solve the "money shortage". However， in the face of equal principal and interest and equal principal， how to make decisions is a problem that can not be ignored. In view of this， by using the methods of literature review， logical analysis and case analysis， this paper analyzes the connotation of project financing， analyzes the differences between principal & interest and the equivalent principal in the repayment of loan. This paper attempts to construct a mechanism for principal & interest with equivalent principal in each repayment period and principal & interest in each repayment period， as well as how to choose when the project financing repays the loan， so as to clarify the understanding of the difference between the equal principal and interest and the equal principal， and help to choose the repayment method more wisely when repaying the loan in the project financing， It is beneficial to promote the development of project financing.

Key Words： Project financing; Principal & interest; Equivalent principal; Loan

1  問题提出

工程的投资估算、设计概算、施工图预算、竣工结算、竣工决算、烂尾、工人工资拖延等，这些始终围绕着一个“钱”字。当然，工程管理的核心就是“三控两管一协调”，即对工期、质量、成本的三大控制，对合同与信息的两大管理，对内外的综合协调。故而，可以说资金是工程项目管理中举足轻重的影响因素，工程项目融资的价值非同一般，那么工程项目融资时偿还贷款，面对等额本金与等额本息该如何进行决策，是一个非常值得探讨的问题。

2  文献综述

自20世纪50年代末以来，美国等发达国家相继出台了相关法律，以鼓励中小企业发展，于是企业融资问题变得尖锐起来。……