There has large number of SMEs in Xinjiang, and they had become an important part of national economic development. For a long time, SMEs financing has become a bottlenecks problem to its development. This paper based on the current situation of SMEs financing in Xinjiang, starting from the SMEs financing mechanism model, to analyze and compare with variety of financing models. At last, explore the proper mode and channels of financing for small and medium enterprises in Xinjiang.