SBA Cheat Sheet 2026

The 30 highest-yield SBA facts, distilled from real exam questions. Print it, save it as a PDF, or study it here — free, no sign-up.

1. What is the purpose of a personal financial statement in an SBA loan application? → To demonstrate the owner's personal net worth and ability to guarantee the loan
2. Under the SBA 8(a) Business Development program, what is the maximum length of time a firm can participate? → 9 years
3. Which milestone in a startup's business development is known as 'product-market fit'? → When the product satisfies a strong market demand
4. A small business increases prices by 10% and sees only a 3% decrease in units sold. This product is best described as having: → Inelastic demand
5. What is the function of a 'contingency plan' in a business plan? → To describe predetermined responses to potential adverse events or setbacks
6. What SBA program provides research and development funding to small technology-driven businesses? → Small Business Innovation Research (SBIR) Program
7. Under the SBA 504 loan program, what is the typical structure of the financing arrangement? → Bank provides 50%, CDC/SBA provides 40%, borrower contributes 10%
8. What is an example of relationship marketing? → Personalized email campaigns
9. The Corporate Transparency Act (CTA), effective January 2024, requires most small businesses to report beneficial ownership information to: → FinCEN (Financial Crimes Enforcement Network)
10. What is the SBA's primary role in the 7(a) loan program? → The SBA guarantees a portion of loans made by approved lenders
11. What is a business continuity plan? → Emergency operations plan
12. Which pricing strategy involves setting a high initial price and lowering it over time as competition increases? → Price skimming
13. A small business experiences a key-person loss when its founder dies unexpectedly. The most targeted insurance product to mitigate this specific risk is: → Key-person life insurance
14. What is 'working capital' in small business financial management? → Current assets minus current liabilities
15. Which SBA loan program is specifically designed to provide microloans up to $50,000 to small businesses and certain non-profit childcare centers? → SBA Microloan Program
16. Under the Sarbanes-Oxley Act (SOX), which provision most directly affects small businesses that are publicly traded? → Internal controls over financial reporting (Section 404)
17. A business owner notices that 20% of customers generate 80% of revenue. This observation is best described as the: → Pareto Principle
18. What is the maximum loan amount under the SBA International Trade Loan (ITL) program? → $5 million
19. What is the goal of market segmentation? → Divide customers into groups based on needs
20. What role does the SBA play in the U.S. economy according to its core mission? → Aid, counsel, assist, and protect the interests of small businesses
21. Under the SBA 7(a) program, what is the guarantee fee called that borrowers typically pay? → SBA guaranty fee
22. Which metric best measures the long-term value of a customer relationship? → Customer Lifetime Value (CLV)
23. What does risk management involve? → Identifying and mitigating risks
24. What is the primary difference between the SBIR and STTR programs? → STTR requires the small business to partner with a nonprofit research institution
25. Which type of business plan is typically shorter, visually driven, and used to pitch investors quickly? → Lean startup plan
26. Which strategy helps new businesses build credibility? → Networking and partnerships
27. What does 'HUBZone' stand for in the SBA HUBZone program? → Historically Underutilized Business Zone
28. What role does a Customer Relationship Management (CRM) system play in small business operations? → Organize and manage customer interactions, sales pipelines, and communication history
29. A Net Promoter Score (NPS) survey asks customers to rate their likelihood to recommend a business on a scale of 0-10. Customers who score 9-10 are called: → Promoters
30. What is the maximum loan amount available under the standard SBA 7(a) loan program? → $5 million