The financing needs of small and micro enterprises are large, but the financing constraints always restrict the development of small and micro enterprises. Private lending is an important and realistic way to solve the financing difficulties of small and micro enterprises, but as the main body of the supply and demand of funds, both small and micro enterprises and private lending have their hidden risks and disadvantages. This paper collates and analyzes the relevant documents concerning small micro enterprises and private loans and those concerning the fit development of the two. It's found that the financing constraints, financing channels, risk causes and risk prevention and control are the main factors influencing the fit development of the two. It is suggested that the government should encourage private capital to participate in formal financial investment, and actively promote the marketoriented reform of interest rate.