The establishment of Hainan Free Trade Port provides a new opportunity for the financing of small and medium-sized enterprises. In the process of the country continuously promoting the development of a free trade port, the financing environment of small and medium-sized enterprises has gradually improved, and the financing environment has been greatly improved. But the small and medium-sized enterprises “financing difficult” “financing expensive” problem still exists. The problems of difficult and expensive financing of small and medium-sized enterprises in Haikou city have their reasons as well as the influence of external environmental factors. Therefore, to better solve the financing problems of small and medium-sized enterprises in Haikou, this paper analyzes the reasons for the difficulty and expensive financing of small and medium-sized enterprises according to the existing research results and summarizes the financing experience of small and medium-sized enterprises at home and abroad. This article finds that the financing systems for small and medium-sized enterprises (SMEs) in developed countries are relatively well-established, and both the government and society offer significant support to SMEs. Therefore, this paper believes that the government should adjust the business strategy to improve the financing ecological environment and enhance the financing ability of SMEs. The government should take the lead in perfecting the guarantee system, continuously improving the credit information system of enterprises and various financial service institutions, promoting the opening and institutionalization of private credit, and developing Internet finance.