Re: [Coworking] SBA 504 loan eligibility - passive?

Sounds like a plan! Actually that's more or less the set-up we have now. I own the building 50/50 with an investor, and I own the coworking 50/50 with another person and we lease and sublease the space, furnish it and organise activities etc... So it's a little more dubious. But good plan to

Re: [Coworking] SBA 504 loan eligibility - passive?

Hi Scott, I would be curious to know how your experience went! I'm currently starting up a coworking space, we already own the building but we're looking for money for renovations. One part I inquired for are solar panels, and the 504 sba green loan, but there I've been denied because I don't

Re: [Coworking] SBA 504 loan eligibility - passive?

Please be careful when you say “rent” as that invokes state regulations regarding your “tenant’s” occupancy. Most/all coworking spaces uses “memberships” like one would join a country club. Therefore, to get this 504 loan, I would recommend using another LLC to legally “rent” out the entire

[Coworking] SBA 504 loan eligibility - passive?

I’m exploring getting an SBA 504 loan to purchase the building I’ve been in for 10 years. They’re arguing that coworking isn’t eligible, as it’s a passive business, primarily engaged in real estate in which we lease (license) it out

Re: [Coworking] Re: Defining a "coworking" space as distinct from "office" space...a zoning ordinance question

Hi Deborah. I’m an architect who focuses on “tenant improvement,” which is typically office and restaurants. An architect should be able to submit your permit with existing codes/regulations. In general, don’t complicate your model - just permit as office + childcare. Ditto retail + cafe.