SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
(Rule 13d-102)
INFORMATION STATEMENT PURSUANT TO RULES 13d-1 AND 13d-2
Under the Securities Exchange Act of 1934
Universal Automotive Industries, Inc.
(Name of Issuer)
Common Stock, par value $.01 per share
(Title of Class of Securities)
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913378 10 5
(CUSIP Number)
Check the following box if a fee is being paid with this statement [ ].
---------- *The remainder of this cover page shall be filled out for a
reporting person's initial filing on this form with respect to the subject class
of securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
CUSIP No. 913378 10 5
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1. NAME OF REPORTING PERSON(S)
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON(S)
Sirrom Capital Corporation -- Taxpayer I.D. No. 62-1583116
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) N/A
(b) N/A
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Tennessee
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON
WITH:
5. SOLE VOTING POWER
Total of 450,000 shares of Common Stock (on an as converted basis),
consisting of 400,000 shares of Common Stock issuable pursuant to an
immediately exercisable warrant having an exercise price equal to 80%
of the average closing bid price of the Common Stock for the 20 trading
days preceding July 11, 1998
6. SHARED VOTING POWER
N/A
7. SOLE DISPOSITIVE POWER
Total of 450,000 shares of Common Stock (on an as converted basis),
consisting of 450,000 shares of Common Stock issuable pursuant to an
immediately exercisable warrant having an exercise price equal to 80%
of the average closing bid price of the Common Stock for the 20 trading
days preceding July 11, 1998
8. SHARED DISPOSITIVE POWER
N/A
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
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Total of 450,000 shares of Common Stock (on an as converted basis),
consisting of 450,000 shares of Common Stock issuable pursuant to an
immediately exercisable warrant having an exercise price equal to 80%
of the average closing bid price of the Common Stock for the 20 trading
days preceding July 11, 1998
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
N/A
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.23% of Common Stock
12. TYPE OF REPORTING PERSON*
IV
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Item 1. (a) Name of Issuer:
Universal Automotive, Industries, Inc.
(b) Address of Issuer's Principal Executive Offices:
3350 North Kedzie
Chicago, Illinois 60618-5722
Item 2. (a) Name of Person Filing:
Sirrom Capital Corporation
(b) Address of Principal Business Office, or if None,
Residence:
500 Church Street, Suite 200
Nashville, Tennessee 37219
(c) Citizenship:
Tennessee
(d) Title of Class of Securities:
Common Stock, par value $.01 per share
(e) CUSIP Number:
913378 10 5
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Item 3. Filing Pursuant to Rule 13D-1(B):
This statement is filed pursuant to Rule 13-d-1(b). The person
filing is an Investment Company registered under Section 8 of
the Investment Company Act.
Item 4. Ownership.
If more than five percent of the class is owned, indicate:
(a) Amount beneficially owned:
Total of 450,000 shares of Common Stock (on an as
converted basis), consisting of 450,000 shares of
Common Stock issuable pursuant to an immediately
exercisable warrant having an exercise price equal to
80% of the average closing bid price of the Common
Stock for the 20 trading days preceding July 11, 1998
(b) Percent of class:
6.23% of Common Stock,
(c) Number of shares as to which such person has:
(i) Sole power to vote or direct the vote:
450,000 shares of Common Stock, only upon
exercise of warrant,
(ii) Shared power to vote or to direct the vote
N/A,
(iii) Sole power to dispose or to direct the
disposition of 450,000 shares of Common
Stock, only upon exercise of warrant,
(iv) Shared power to dispose or to direct the
disposition of N/A.
Item 5. Ownership of Five Percent or Less of a Class.
N/A
Item 6. Ownership of More Than Five Percent on Behalf of Another
Person.
N/A
Item 7. Identification and Classification of the Subsidiary which
Acquired the Security
Being Reported on By the Parent Holding Company.
N/A
Item 8. Identification and Classification of Members of the Group.
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N/A
Item 9. Notice of Dissolution of Group.
N/A
Item 10. Certification.
By signing below I certify that, to the best of my knowledge
and belief, the securities referred to above were acquired in
the ordinary course of business and were not acquired for the
purpose of and do not have the effect of changing or
influencing the control of the issuer of such securities and
were not acquired in connection with or as a participant in
any transaction having such purposes or effect.
Signature.
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
Date: October 1, 1997 SIRROM CAPITAL CORPORATION
By: /s/ Carl W. Stratton
Carl W. Stratton
Chief Financial Officer
