However, criticism of the plans is building before they have even been announced.
First, there is the danger that these products may echo some of the complicated financial engineering which helped contribute to the 2008 credit crisis. One banker, who did not want to be named, described them as "CDOs by another name," (referring to the collateralized debt obligations which are credited with the sub-prime mortgage crisis).
There is also the disparity between what a "shadow banking" pension fund wants – usually 10-30 year assets – and the typical five-year length of a small business loan.
Read MoreThe banks said no: This investor said yes
"The kernel of the problem remains that SMEs have demand for short-dated loans, and shadow banking wants long-maturity assets, which are easier to research," Capper pointed out.
"How do you create a quality tranche of loans banks are happy to keep which also keeps regulators happy?"
A further problem is that SMEs across the euro zone don't have the same problem: German small businesses are reporting that getting loans is increasingly easy, according to the Ifo institute. Underwriting standards and legal hurdles also vary.
Also, the funds which might want to hold these assets differ across the region. The UK system is based around household wealth and pension schemes, which might be more receptive to this type of investment, whereas in France and Germany life insurers are more likely to be interested.
Read MoreHow politicians can help small businesses
There is a lack of clarity over how such tranches would fare under new bank capital rules, which set out how much capital banks and insurers should hold.
Also producing a new financial product risks ignoring some of the other problems limiting small business lending.
The reduction of the number of high street bank branches, and subsequently the number of local bank managers who know businesses well has also been blamed for the poor lending environment.
Businesses are also less likely to approach banks for funding because of nervousness about getting into greater debt. Peer-to-peer lending has been mooted as an alternative, but has so far not provided the volume of funding needed.
The real answer may lie in reverting to the old-fashioned way of doing business -- rather than developing a new class of securities.
"It worked fine when you had experienced managers in banks who knew how to assess and advise. Now, there's no proper relationship," Peter Hollis, founder, Hollis and Co and a campaigner on small business loans, said.