The Research Department of Economics and Management of Tadbir Nikan Business, Marketing, and Finance Open In Press 2027 09 01 Developing a Financing Model for Small and Medium-Sized Enterprises in Zanjan Province Developing a Financing Model for Small and Medium-Sized Enterprises in Zanjan Province 1 19 EN Journal Article 2026 07 19 <p>The present study aimed to develop a financing model for small and medium-sized enterprises (SMEs) in Zanjan Province using a qualitative-quantitative mixed-methods approach. The qualitative phase involved experts, with a sample of 50 participants, and data were collected through interviews. In the quantitative phase, the statistical population comprised managers and experts working in SMEs in Zanjan Province; using Cochran's formula, the sample size was estimated at 284. A researcher-developed 64-item questionnaire was used after the qualitative phase. Face validity was used to assess the validity of the instrument, and Cronbach's alpha was used to assess reliability. Data were collected using stratified sampling and analyzed with SPSS and AMOS. Exploratory findings identified 10 factors related to SME financing. Confirmatory factor analysis indicated significant effects of the economic environment, government environment, modern financing methods, domestic financing, public participation, supportive policies, value creation, investment, foreign financing, and borrowing on SME financing. The Friedman ranking test further showed that foreign financing ranked first, with a mean rank of 9.30, whereas value creation had the lowest mean rank (2.98).</p> https://bmfopen.com/index.php/bmfopen/article/download/660/484