Re: [Coworking] SBA won't fund coworking??

[Randall G. Arnold]

I just threw magazines out as a quickie, not an end-all-be-all.  The point was supplementing operations with related retail; I know of spaces doing this.  And I led off with a deli because it was the stronger item, and would be a draw unto itself that could bring in potential customers.   Randy   On April 25, 2013 at 4:26 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   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.