This study explores the financing willingness and channel preferences of Chinese medicinal materials growers. The findings reveal that the financing characteristics of Chinese medicinal materials growers are prominent, especially when facing high-yield varieties, the financing willingness has not significantly increased, and the planting scale has not blindly expanded. Preference for risk, increasing income, and expanding planting area significantly boost financing willingness. Non-agricultural income, agricultural income, planting area, planting experience, and skill training influence growers’ access to formal financing channels. The research identifies that the behavioral motivation of growers is not purely rational but rather bounded rationality.