It is difficult for small and medium-sized enterprises to obtain credit and finance from traditional financial institutions due to their weakness, small scale, high credit and risk identification costs. P2P supply chain finance has opened up a new financing channel for small and medium-sized enterprises, which has solved the dilemma of financing shortage for small and medium-sized enterprises. However, due to P2P financial supply chain' involvement in many parties, difficult credit supervision, complex operation link and risk factors, P2P supply chain finance business contains a huge and systemic risk. Based on the in-depth analysis of the main mode and corresponding risk of the P2P supply chain finance, it is of great significance to put forward the feasible risk warning and prevention and control strategy.