As the most dynamic and promising economic entities and innovation carriers in Xuchang’s market economy, technology-based small and medium-sized enterprises (SMEs) have long faced the real challenges of “difficult, expensive, and slow financing,” which severely hinders their high-quality development. This paper analyzes the development overview and financing environment of technology-based SMEs in Xuchang, summarizes the f inancing constraints faced by these enterprises, and proposes strategies from the government, financial institutions, and the enterprises themselves to promote the healthy development of technology-based SMEs in Xuchang.