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 occupy the building myself for +50%, since we rent out to individual businesses, and gradually as we're expanding, more and more to coworking members.
I agree with your reasoning that coworking isn't just real estate, but it's a business in itself that definitely isn't a passive investment!
Thanks,
Denis