i think the SBA instituted these rules to avoid using the money for real-estate speculation, yes, but as we all know, running a coworking space is far more hands-on than a sublease or even managed office.
classes and event rentals can make up a large chunk of revenue but i don't want to pitch it as an event rental space! argh. this frustrates me so. On Thu, Apr 25, 2013 at 2:26 PM, Jerome Chang <jer...@blankspaces.com>wrote: > Alex, my understanding is that the govt is backing these bank loans. So > the govt would want businesses to hire people to run the operations, not a > kick-back-and-collect-revenue biz model. > > Yes you could sell magazines and stuff, but that would have to amount to a > lot of revenue...at least equal to the coworking memberships. 1 desk = > $500, vs 100 magazines @ $5 each. Multiply by at least 20 desks. Print > magazines are dying so... > > Rena, it's possible to convince some loan officer to convince the loan > committee and therefore the SBA approval process, but it'd be an exception > than the rule. > > Jerome > www.BLANKSPACES.com > > On Apr 25, 2013, at 2:15 PM, "Randall G. Arnold" < > randall.arn...@texrat.net> wrote: > > Which would support the idea of hosting a deli and/or magazine and other > related sales activities onsite. Is training considered passive? After > hours rentals? > > Randy > > > On April 25, 2013 at 4:05 PM Jerome Chang <jer...@blankspaces.com> wrote: > > An inside source once told me that the SBA doesn't finance operations > based on passive income. Gyms with passive membership fees get away with it > because they have a lot of trainers, retail sales, etc. > > So unless you can prove that more than 50% of your business is not > passive, you're out of luck. > > Jerome > www.BLANKSPACES.com > > On Apr 25, 2013, at 1:58 PM, Rena Tom < bob...@gmail.com> wrote: > > Help me out, all. I just had a conversation with the NYBDC (New York > Business Development Corporation) which works with the SBA on lending. They > said the SBA won't fund coworking spaces because it's too much like a > landlord/subtenant situation which is not in their charter. > > Have any of you taken a SBA loan for your space? This just sounds wonky > to me. > > Rena > > > -- > Visit this forum on the web at http://discuss.coworking.com > --- > You received this message because you are subscribed to the Google Groups > "Coworking" group. > To unsubscribe from this group and stop receiving emails from it, send an > email to coworking+unsubscr...@googlegroups.com. > For more options, visit https://groups.google.com/groups/opt_out. > > > > > > > > -- > Visit this forum on the web at http://discuss.coworking.com > --- > You received this message because you are subscribed to the Google Groups > "Coworking" group. > To unsubscribe from this group and stop receiving emails from it, send an > email to coworking+unsubscr...@googlegroups.com. > For more options, visit https://groups.google.com/groups/opt_out. > > > > > > Randall (Randy) Arnold > Developer and Enthusiast Advocate > http://texrat.net > +18177396806 > > -- > Visit this forum on the web at http://discuss.coworking.com > --- > You received this message because you are subscribed to the Google Groups > "Coworking" group. > To unsubscribe from this group and stop receiving emails from it, send an > email to coworking+unsubscr...@googlegroups.com. > For more options, visit https://groups.google.com/groups/opt_out. > > > -- Visit this forum on the web at http://discuss.coworking.com --- You received this message because you are subscribed to the Google Groups "Coworking" group. To unsubscribe from this group and stop receiving emails from it, send an email to coworking+unsubscr...@googlegroups.com. For more options, visit https://groups.google.com/groups/opt_out.
