SBA Study Guide 2026

The current ratio is a key financial metric that measures a company's ability to meet its short-term obligations (those due within one year) using its current assets. It is calculated by dividing current assets by current liabilities. A higher current ratio generally indicates better short-term liquidity and financial health, signaling that the company has sufficient resources to cover its immediate debts.

The SBA Export Express program provides fast access to export financing with a maximum loan amount of $500,000 for eligible small businesses.

An elevator pitch is a concise, persuasive summary of a business idea, product, or service, designed to be delivered in a short amount of time, typically 30-60 seconds. Its purpose is to quickly capture interest and convey the core value proposition to potential investors, partners, or customers. It's a vital tool for networking and initial introductions.

M-commerce refers to commercial transactions conducted via mobile devices, including mobile payments, shopping apps, and mobile-optimized websites.

Intellectual property (IP) refers to intangible assets created through human intellect, including patents, trademarks, copyrights, and trade secrets.

A CRM system centralizes customer contact information, interaction history, and sales opportunities, helping businesses build stronger customer relationships and increase sales.