This　paper　considers　a　capital-constrained　closed-loop　supply　chain　(CLSC)　composed　of　one　original　equipment　manufacturer　(OEM)　and　a　single　remanufacturer　(RM),　and　investigates　this　CLSC＇s　optimal　production　and　financing　strategy　under　fairness　concerns.　CLSC　decision-making　models　under　four　cases,　namely,　the　OEM　has　adequate　funds,　the　OEM＇s　funds　are　limited　without　financing,　the　OEM　has　limited　funds　with　debt　financing,　and　the　OEM＇s　funds　are　limited　with　advance　payment　financing,　are　formulated.　The　equilibrium　solutions　in　different　cases　are　obtained　through　the　backward　induction　method,　the　impact　of　fairness　concern　behavior　on　the　equilibrium　solutions　are　analyzed,　and　the　critical　conditions　for　OEM　to　adopt　optimal　financing　strategies　are　obtained.　The　results　show　that:　compared　with　the　advance　payment　financing,　the　yield　of　new　product　under　the　debt　financing　situation　is　higher,　but　the　yield　of　remanufacturing　products　is　lower,　and　the　sales　prices　of　both　products　are　higher;　furthermore,　the　fairness　concern　have　a　smaller　marginal　impact　on　the　quantities　of　new　products,　but　have　a　larger　marginal　impact　on　the　quantities　of　remanufactured　products.　Moreover,　only　if　the　OEM＇s　initial　capital　is　constrained　and　the　advance　payment　financing　ratio　is　below　a　certain　threshold,　the　OEM　will　adopt　advance　payment　financing,　and　when　the　initial　capital　is　exceedingly　scarce　and　the　advance　payment　financing　rate　is　relatively　large,　the　manufacturer　tends　to　adopt　debt　financing;　with　financing,　the　environmental　impact　will　increase　as　the　fairness　concern　grows　up,　while　with　debt　financing　it　is　even　more　eco-friendlier.　©　2022　Elsevier　Ltd